This article uses weekly scanner data from two small U.S. cities to characterize time and state dependence of grocers' pricing decisions. In these data, the probability of a nominal adjustment declines with the time since the last price change. A store's price for a particular product typically...

I examine the implementation of the Friedman rule under the assumption that age dependent lump sum transfers are possible and private intermediation is costly. This is done both in an infinitely lived agents model and in an overlapping generations model. I argue that in addition to a zero...

[fre] Quand l'offre de monnaie est stable, les agents économiques veulent employer la monnaie comme unité de compte dans leurs contrats futurs ; par conséquent, H faudrait, quand il se produit des perturbations monétaires, préserver les contrats émis en termes nominaux. C'est pourquoi ce...