Hoffmann, Johannes; Kurz-Kim, Jeong-Ryeol - 2006
We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price …-dependent price adjustment. Most importantly, the differences in ?unconditional? sectoral price flexibility are found to be linked to … data from the German Consumer Price Index which covers the years 1998 to 2003. We strong find evidence of time- and state …