Some Evidence on the Importance of Sticky Prices

We examine the frequency of price changes for 350 categories of goods and services covering about 70 percent of consumer spending, on the basis of unpublished data from the Bureau of Labor Statistics for 1995–97. In comparison with previous studies, we find much more frequent price changes, with hal...

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Bibliographic Details
Published in:	The Journal of political economy 2004-10, Vol.112 (5), p.947-985
Main Authors:	Bils, Mark, Klenow, Peter J.
Format:	Article
Language:	English
Subjects:	Business cycles Changes Consumer goods Consumer Price Index Correlations Costs Data analysis Economic research Economic theory Empirical research Expenditures Inflation Inflation rate Inflation rates Information Services Marginal costs Market structure Mathematical models Modeling Monetary policy Political economy Prediction models Price changes Price cuts Price level changes Price quotations Price stickiness Price volatility Prices Sales Standard deviation Standard error Statistical analysis Statistics Sticky prices Studies Volatility
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