evidence of linear and fixed menu costs that account for inaction of price adjustment. Convex menu costs are statistically … (incomplete) synchronization of price changes …

Existing micro evidence of firms' price changes tends to show a downward sloping hazard rate – the longer the price of … a product has remained the same, the less likely it is that the price will change. Using a panel of Norwegian plant- and … suggests time-dependent price-setting by at least some of the producers. The spike after 12 months might be explained by …

This paper investigates how financial market imperfections and the frequency of price adjustment interact. Based on new … frictions changes profits and the price distribution of firms compared to a model without financial frictions. Our results …. Moreover, in response to aggregate shocks, aggregate price rigidity moves substantially, the response of inflation is dampened …

We document a novel role of heterogeneity in price rigidity: It strongly amplifies the capacity of idiosyncratic shocks … to drive aggregate fluctuations. Heterogeneity in price rigidity also completely changes the identity of sectors from … as large as those arising from an aggregate productivity shock. Heterogeneous price rigidity amplifies the aggregate …

heavily dependent on the characteristics of the price-setting firms. The reforms generated bimodal price-change distributions …-segment indicators. Instead, differences appear to arise because independent restaurants aim for (very) crude price ranges rather than …

The Generalized Calvo and the Generalized Taylor model of price and wage-setting are, unlike the standard Calvo and … Taylor counter-parts, exactly consistent with the distribution of durations observed in the data. Using price and wage micro … systematic wage and price indexation …

By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro … changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate …

We use detailed micro data to document a causal response of local retail price to changes in house prices, with … elasticities of 15%-20% across housing booms and busts. Notably, these price responses are largest in zip codes with many … homeowners, and non-existent in zip codes with mostly renters. We provide evidence that these retail price responses are driven …

heterogeneity in price stickiness, sector size, and input-output linkages. We calibrate a 341 sector version of the model to the … United States. Both theoretically and empirically, sectoral heterogeneity in price rigidity (i) generates sizable GDP …