stochastic general equilibrium models with nominal price rigidities. While the focus is on Calvo-style nominal price contracts … with a range of indexation rules for constrained price setters, the conclusions have much wider validity: (1) Regardless of … whether nominal price and/or wage rigidities are due to New-Keynesian, Old-Keynesian or sticky-information Phillips curves …

stochastic general equilibrium models with nominal price rigidities. While the focus is on Calvo-style nominal price contracts … with a range of indexation rules for constrained price setters, the conclusions have much wider validity: (1) Regardless of … whether nominal price and/or wage rigidities are due to New-Keynesian, Old-Keynesian or sticky-information Phillips curves …

We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price … data from the German Consumer Price Index that covers the years 1998 to 2003. We strong find evidence of time- and state …-dependent price adjustment. Most importantly, the differences in quot;unconditionalquot; sectoral price flexibility are found to be …

We provide new evidence on price rigidity at the product level based on microdata underlying the Swiss consumer price … index from 2008 to 2020. We find that the frequency of price changes has increased over the last decade, particularly among … products where collection switched to online prices, reflecting the rise of e-commerce. Furthermore, price changes tend to be …

beliefs, generating positive price-quantity comovement. The feedback of beliefs into prices can be so strong that even …

simple mapping from the frequency of price changes in micro data to impulse responses of prices and quantities to shocks. We …

This paper presents a model in which price setting firms decide what to pay attention to, subject to a constraint on … absolute size of price changes observed in micro data, prices react fast and by large amounts to idiosyncratic shocks, but …