Sudo, Nao; Ueda, Kozo; Watanabe, Kota; Watanabe, Tsutomu - Center for Advanced Research in Finance, Faculty of … - 2014
Standard New Keynesian models have often neglected temporary sales. In this paper, we ask whether this treatment is appropriate. In the empirical part of the paper, we provide evidence using Japanese scanner data covering the last two decades that the frequency of sales was closely related with...