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Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
CESifo Working Paper No. 10520
Versionsangabe: 
This Version: August 2025
Verlag: 
CESifo GmbH, Munich
Zusammenfassung: 
This paper uses a new survey approach to empirically characterize firm-level passthrough dynamics and explores them in a price-setting model. We directly elicit price pass-through of cost shocks in the field and survey experiments. We find gradual pass-through due to infrequent adjustments (nominal rigidities) and high costs of deviating from competitors (strategic complementarities), especially for transitory shocks. The experiments provide causal evidence supporting non-constant demand elasticities: firms raise prices incrementally to a permanent aggregate shock, and samesize idiosyncratic shocks exhibit lower pass-through. We quantify nominal rigidities and strategic complementarities in a general equilibrium price-setting model, finding both play substantial roles.
Schlagwörter: 
pass-through
cost shocks
heterogeneous expectations
firm survey
nominal rigidities
strategic complementarities
JEL: 
E24
E31
E50
E60
Dokumentart: 
Working Paper
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Version Dokument Versionsbeschreibung
2 10419/279270.2 This Version: August 2025
1 10419/279270 Original Version: June 2023

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