, become more urgent during holidays. As a result, the holiday-period opportunity cost of price adjustment may increase … dramatically for retail stores, which should lead to greater price rigidity during holidays. We test this prediction using weekly … retail scanner price data from a major Midwestern supermarket chain. We find that indeed, prices are more rigid during …

We show that standard menu cost models cannot simultaneously reproduce the dispersion in the size of micro-price … changes and the extent to which the fraction of price changes increases with inflation in the U.S. time-series. Though the … Golosov and Lucas (2007) model generates fluctuations in the fraction of price changes, it predicts too little dispersion in …

consumers have become less price sensitive over time …