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 …

input price volatility. …We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price … data from the German Consumer Price Index which covers the years 1998 to 2003. We strong find evidence of time- and state …