@techreport{Alvarez2006Sticky,
abstract = {This paper presents original evidence on price setting in the euro area at the individual
level. We use micro data on consumer (CPI) and producer (PPI) prices, as well as
survey information. Our main findings are: (i) prices in the euro area are sticky and
more so than in the US; (ii) there is evidence of heterogeneity and of asymmetries in
price setting behaviour; (iii) downward price rigidity is only slightly more marked than
upward price rigidity and (iv) implicit or explicit contracts and coordination failure
theories are important, whereas menu or information costs are judged much less relevant
by firms.},
author = {Luis J. \'{A}lvarez and Emmanuel Dhyne and Marco Hoeberichts and Claudia Kwapil and Herv\'{e} Le Bihan and Patrick L\"{u}nnemann and Fernando Martins and Roberto Sabbatini and Harald Stahl and Philip Vermeulen and Juoko Vilmunen},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E31; D40; C25; 330; Price setting; Price stickiness; Consumer prices; Producer prices; survey data; Preisrigidit\"{a}t; Betriebliche Preispolitik; Preisniveau; EU-Staaten},
language = {eng},
number = {2006,02},
title = {Sticky prices in the euro area: a summary of new micro evidence},
type = {Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank},
url = {http://hdl.handle.net/10419/19630},
year = {2006}
}
