The new edition of a comprehensive treatment of monetary economics, including the first
extensive coverage of the effective lower bound on nominal interest rates. This textbook …

We establish five facts about prices in the US economy:(1) For consumer prices, the median
frequency of nonsale price change is roughly half of what it is including sales (9–12% per …

In the 1988–2004 microdata collected by the US Bureau of Labor Statistics for the Consumer
Price Index, price changes are frequent (every 4–7 months, depending on the treatment of …

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 …

We introduce a model of monetary policy with downward nominal wage rigidities and show
that both the slope and curvature of the Phillips curve depend on the level of inflation and …

A sticky price theory of the transmission mechanism of monetary policy shocks based on
state-dependent pricing yields two testable implications that do not hold in time-dependent …

Sažetak Rezultati brojnih istraživanja pokazuju da je učinak konverzije nacionalnih valuta u
euro na rast potrošačkih cijena u zemljama europodručja u pravilu bio blag i jednokratan …

This paper estimates the pass-through of minimum wage increases into the prices of US
grocery and drug stores. We use high-frequency scanner data and leverage a large number …

Although a business's reputation can affect its pricing, prices can also affect its reputation. To
explore the effect of prices on reputation, we investigate daily data on menu prices and …

We document that the aggregate price level responds flexibly and asymmetrically to large
positive and negative value-added tax changes. We present a price-setting model with …