Title of article
Asymmetricpriceadjustmentinthesmall$
Author/Authors
Haipeng (Allan) Chen، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2008
Pages
10
From page
728
To page
737
Abstract
Analysesofalargeretailscannerpricedatasetrevealanewandsurprisingregularity–
smallpriceincreasesoccurmorefrequentlythansmallpricedecreasesforpricechanges
of upto10b. Thatis,wefindasymmetricpriceadjustment‘‘inthesmall.’’Furthermore,it
turnsoutthatinflationoffersonlyapartialexplanationforthefinding.Indeed,substantial
proportion oftheasymmetryremainsunexplained,evenafteraccountingfortheinflation.
For example,theasymmetryholdsalsoafterexcludingperiodsofinflationfromthedata,
and evenforproductswhosepricehadnotincreased.Thefindingsholdfordifferent
aggregate anddisaggregatemeasuresofinflationandalsoafterallowingforlaggedprice
adjustments.
Keywords
Asymmetric priceadjustmentPrice rigidityInflationRational inattentionMonetary policy
Journal title
Journal of Monetary Economics
Serial Year
2008
Journal title
Journal of Monetary Economics
Record number
846209
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