Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/206846 
Erscheinungsjahr: 
2008
Quellenangabe: 
[Journal:] Journal of Monetary Economics [ISSN:] 0304-3932 [Volume:] 55 [Issue:] 4 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2008 [Pages:] 728-737
Verlag: 
Elsevier, Amsterdam
Zusammenfassung: 
Analyses of a large retail scanner price data set reveal a new and surprising regularity – small price increases occur more frequently than small price decreases for price changes of up to 10¢. That is, we find asymmetric price adjustment “in the small.” Furthermore, it turns out that inflation offers only a partial explanation for the finding. Indeed, substantial proportion of the asymmetry remains unexplained, even after accounting for the inflation. For example, the asymmetry holds also after excluding periods of inflation from the data, and even for products whose price had not increased. The findings hold for different aggregate and disaggregate measures of inflation and also after allowing for lagged price adjustments.
Schlagwörter: 
Asymmetric Price Adjustment
Price Rigidity
Inflation
Rational Inattention
Monetary Policy
JEL: 
E31
D11
D21
D80
L11
L16
M31
DOI der veröffentlichten Version: 
Dokumentart: 
Article
Dokumentversion: 
Accepted Manuscript (Postprint)
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