How Frequent Are Small Price Changes?

被引：45

作者：

Eichenbaum, Martin ^{[1
]}

Jaimovich, Nir ^{[2
]}

Rebelo, Sergio ^{[1
]}

Smith, Josephine ^{[3
]}

机构：

[1] Northwestern Univ, 2001 Sheridan Rd, Evanston, IL 60208 USA

[2] Duke Univ, Dept Econ, Durham, NC 27708 USA

[3] NYU, Stern Sch Business, Kaufman Management Ctr, New York, NY 10012 USA

来源：

AMERICAN ECONOMIC JOURNAL-MACROECONOMICS | 2014年 / 6卷 / 02期

关键词：

STICKY PRICES; MENU COSTS; DYNAMICS; ADJUSTMENT; INFLATION; RETAIL; MONEY;

D O I：

10.1257/mac.6.2.137

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Recent empirical work suggests that small price changes are relatively common. This evidence has been used to criticize classic menu-cost models. In this paper, we use scanner data from a national supermarket chain and micro data from the Consumer Price Index to reassess the importance of small price changes. We argue that the vast majority of these changes are due to measurement error. We conclude that the evidence on the prevalence of small price changes is much too weak to be used as a litmus test of nominal rigidity models.

引用

页码：137 / 155

页数：19

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