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Autor:innen: 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
CFS Working Paper No. 2007/13
Verlag: 
Goethe University Frankfurt, Center for Financial Studies (CFS), Frankfurt a. M.
Zusammenfassung: 
I employ a large set of scanner price data collected in retail stores to document that (i) although the average magnitude of price changes is large, a substantial number of price changes are small in absolute value; (ii) the distribution of non-zero price changes has fat tails; and (iii) stores tend to adjust prices of goods in narrow product categories simultaneously. I extend the standard menu costs model to a multi-product setting in which firms face economies of scale in the technology of adjusting prices. The model, because of its ability to replicate this additional set of micro-economic facts, can generate aggregate fluctuations much larger than those in standard menu costs economies.
Schlagwörter: 
State-Dependent Pricing
Multi-Products Firms
JEL: 
E31
E32
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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