Reference Prices, Costs, and Nominal Rigidities

摘要: We assess the importance of nominal rigidities using a new weekly scanner dataset. find that take form inertia in reference prices and costst defined as most common costs within given quarter. Reference are particularly inertial have an average duration roughly one year, even though change once every two weeks. document relation between sharp evidence state dependence prices. use simple model to argue useful statistics for macroeconomic