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| Author: | Alvarez, L. J. (et al.) |
| Title: | Sticky prices in the euro area: a summary of new micro-evidence |
| Journal: | Journal of the European Economic Association
2006 : MAY, VOL. 4:2-3, p. 575-584 |
| Index terms: | euro price determination |
| Freeterms: | euro area price rigidity sticky prices |
| Language: | eng |
| Abstract: | This article discusses recent evidence on micro price-settings recently obtained for euro area countires. The main finding are: Prices in the euro area are sticky and stickier than in the US; downward price rigidity is only slightly more marked than upward price rigidity; heterogeneity and assymmetries are observed in price settings; and the relevance of theories that explain price stickiness is confirmed, whereas menu costs, thresholds, and costloy information explanations are judged much less relevant by firms. |
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