Sheremirov, Viacheslav - 2015 - This version: July 2015; first version: November 2013
between inflation and output stability. While the comovement of price dispersion and inflation implied by standard models is … the data, the comovement of price dispersion and inflation turns positive. Nevertheless, I show that a wide variety of …In macroeconomic models, the level of price dispersion - which is typically approximated through its relationship with …