Carstensen, Kai; Schenkelberg, Heike - 2011 - Current version: March 2, 2011
This paper evaluates the predictions of different price setting theories using a new dataset constructed from a large … on both price realizations and expectations. Aggregating the price data we find clear evidence in favor of state …-dependence; for periods of relatively high and volatile inflation not only the size of price changes (intensive margin) but also the …
