This chapter reviews the role of temporary price and wage rigidities in explaining of the
dynamic relationship between money, real output, and inflation. The key properties to be …

We review recent evidence on price rigidity from the macroeconomics literature and discuss
how this evidence is used to inform macroeconomic modeling. Sluggish price adjustment is …

The last decade has seen a burst of micro price studies. Many studies analyze data
underlying national CPIs and PPIs. Others focus on more granular subnational grocery store …

Golosov and Lucas recently argued that a menu‐cost model, when made consistent with
salient features of the microdata, predicts approximate monetary neutrality. I argue here that …

We use store-level data to document the exact process of changing prices and to directly
measure menu costs at five multistore supermarket chains. We show that changing prices in …

We study the price adjustment practices and provide quantitative measurement of the
managerial and customer costs of price adjustment using data from a large US industrial …

I use daily prices collected from online retailers in five countries to study the impact of
measurement bias on three common price stickiness statistics. Relative to previous results, I …

We study the daily behavior of supermarket prices and product availability following two
recent natural disasters: the 2010 earthquake in C hile and the 2011 earthquake in J apan …

This paper is concerned with the interaction between price and inventory decisions in
retailing firms and its implications for the dynamics of markups and the existence of sales …

Abstract The Hebrew University of Jerusalem and NBER. Using a unique data set on store-
level monthly prices of four homogenous products sold in Israel, I study the existence and …