nominal and real factors in price rigidity. Using two rich datasets consisting of a large fraction of the price quotes used to … compute the Belgian and French Consumer Price Indices, we are able to evaluate, the importance of the menu costs and to …. We find that infrequent price changes are not necessarily associated with large menu costs. Indeed, real rigidities …

the degree of price rigidity that is inherent to the price setting mechanism (intrinsic) and that which is due to the … price's driving variables (extrinsic). Using two data sets consisting of a large fraction of the price quotes used to … compute the Belgian and French CPI, we are able to assess the role of intrinsic and extrinsic price stickiness in explaining …