the stations respond asymmetrically to changes in the spot market price. Hence, asymmetric pricing is not a feature of the …This paper studies asymmetric price responses of individual firms, via daily retail prices of almost all gasoline … market as a whole, but of individual firms. For asymmetrically pricing stations, the asymmetry is substantial directly after …

of price adjustment, informational frictions, etc. - are an important factor for nominal price rigidity at the micro … consistent with New Keynesian macroeconomic models in which firms have heterogeneous price stickiness …

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 …

price data. Even with significant pricing frictions, the models still imply a trade response to exchange rates stronger than …U.S. imports and exports respond little to exchange rate changes in the short run. Pricing behavior has long been …. Sticky prices and strategic complementarities in price setting generate sluggish responses, and they are necessary to match …

the stations respond asymmetrically to changes in the spot market price. Hence, asymmetric pricing is not a feature of the …This paper studies asymmetric price responses of individual firms, via daily retail prices of almost all gasoline … market as a whole, but of individual firms. For asymmetrically pricing stations, the asymmetry is substantial directly after …

We propose a simple framework to assess the costs of nominal price adjustment using stock market returns. We document … array of checks. These results suggest that menu costs---broadly defined to include physical costs of price adjustment …, informational frictions, etc.---are an important factor for nominal price rigidity. We also show that our empirical results …

We propose a simple framework to assess the costs of nominal price adjustment using stock market returns. We document … array of checks. These results suggest that menu costs---broadly defined to include physical costs of price adjustment …, informational frictions, etc.---are an important factor for nominal price rigidity. We also show that our empirical results …