Inflation and Price Adjustments: Micro Evidence from Norwegian Consumer Prices 1975-2004

• 成果类型: Article
• 署名作者: Wulfsberg, Fredrik
• 署名单位: Oslo Metropolitan University (OsloMet)
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20140095
• 发表日期: 2016
• 页码: 175-194
• 关键词: menu costs; fluctuations; RIGIDITY; POLICY; facts

摘要

This is the first paper documenting the frequency and size of price adjustments using micro data from both the high-inflation period in the 1970s and 1980s, and the period of low inflation since the early 1990s. When inflation is high and volatile, prices change more frequently and in smaller magnitudes. When inflation is low and stable, prices change less frequently but in larger magnitudes. The frequency of price changes is more important for the variation in inflation when inflation is high and volatile. When inflation is low and stable, the magnitude of the price changes is more important than the frequency.