This paper summarises the vast evidence on micro price-setting recently obtained for euro area countries. We consider studies with micro data on consumer and producer prices, as well as survey information. The main findings are: (1) prices in the euro area are sticky and stickier than in the US;...

Based on an ad hoc firm-level survey on wage and pricing policies conducted in a large number of European countries, this study finds that about 60% of firms change base wages once a year with some clustering of wage changes observed in January. Differences in the frequency of wage changes...