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dc.contributor.authorLevy, Daniel C.en
dc.contributor.authorChen, Haipeng (Allan)en
dc.contributor.authorRay, Souraven
dc.contributor.authorBergen, Marken
dc.date.accessioned2009-01-28T15:00:01Z-
dc.date.available2009-01-28T15:00:01Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1356en
dc.subject.jelD21en
dc.subject.jelD11en
dc.subject.jelL11en
dc.subject.jelM31en
dc.subject.jelE31en
dc.subject.jelD80en
dc.subject.ddc330en
dc.subject.keywordAsymmetric Price Adjustmenten
dc.subject.keywordPrice Rigidityen
dc.titleAsymmetric Price Adjustment in the Small-
dc.typeWorking Paperen
dc.identifier.ppn535021976en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1356en

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