We document a sizeable increase in the frequency of price adjustments following the large
energy shocks of 2022. We use a tractable New Keynesian model, calibrated to the …

We dissect the impact of a large and sudden exchange rate appreciation on Swiss border
import prices, retail prices, and consumer expenditures on domestic and imported …

Using CPI microdata for 11 euro area countries over 2010–2019, we document new findings
on consumer price rigidity in the euro area:(i) the average frequency of price changes is 12 …

We give a full analytic characterization of a large class of sticky-price models where the
firm's price-setting behavior is described by a generalized hazard function. Such a function …

Using CPI micro data for 11 euro area countries, covering 60% of the European
consumption basket over the period 2010-2019, we document new findings on consumer …

In a broad class of sticky-price models, the non-neutrality of nominal shocks is captured by a
simple sufficient statistic: the ratio of the kurtosis of the price change distribution over the …

Abstract The New Keynesian framework implies that sluggish price adjustment results in a
distorted allocation of resources. We use a tractable model to identify these unobservable …

Abstract Using a New Zealand firm-level survey, I show that firms producing more goods
have both better information about inflation and more frequent but smaller price changes. To …

The flexibility of the aggregate price level affects the ability of monetary policy to stabilize
business cycles. Monetary policy can be ineffective even if only few prices adjust, as long as …

Using a rich survey panel of Italian businesses, this paper provides new empirical evidence
on the drivers of firms' pricing decisions over the last six years. We document a set of …