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dc.contributor.authorLevy, Daniel C.en_US
dc.contributor.authorChen, Haipeng (Allan)en_US
dc.contributor.authorRay, Souraven_US
dc.contributor.authorBergen, Marken_US
dc.date.accessioned2009-01-28T15:00:01Z-
dc.date.available2009-01-28T15:00:01Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/17868-
dc.description.abstractAnalyzing a large weekly retail transaction price dataset, we uncover a surprising regularity?small price increases occur more frequently than small price decreases for price changes of up to about 10 cents, while there is no such asymmetry for larger price changes. The asymmetry holds for the entire sample and for individual categories. We find that while inflation can explain some of the asymmetry, inflation is not the whole story as the asymmetry holds even after excluding inflationary periods from the data, and even for products whose price had not increased over the eight-year period. The findings hold for different measures of inflation and also after allowing for lagged price adjustments. We offer a consumer-based explanation for these findings.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKieler Arbeitspapiere 1356en_US
dc.subject.jelD21en_US
dc.subject.jelD11en_US
dc.subject.jelL11en_US
dc.subject.jelM31en_US
dc.subject.jelE31en_US
dc.subject.jelD80en_US
dc.subject.ddc330en_US
dc.subject.keywordAsymmetric Price Adjustmenten_US
dc.subject.keywordPrice Rigidityen_US
dc.titleAsymmetric Price Adjustment in the Smallen_US
dc.typeWorking Paperen_US
dc.identifier.ppn535021976en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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