The impact of macroeconomic management (monetary policy) and administrative price adjustments on price variability in a … low inflation economy characterized by relatively frequent administrative price adjustments is examined. Fluctuations of … administrative price changes and monetary policy. If monetary policy does not account for expected changes in administrative prices …

the steady-state distribution of price adjustments in microdata; realism calls for firm-specific shocks. Computing a … that the real effects are small and short-lived, especially if money growth is iid. An increase in aggregate productivity … it does if all firms have recently received an economy-wide productivity shock …