Price Rigidity: Microeconomic Evidence and Macroeconomic Implications
---- Acknowledgements -----
We thank Katrina Evtimova for excellent research assistance. We thank Ariel Burstein, Gauti Eggertsson and Peter Klenow for helpful comments and discussions. This research has been supported by the National Science Foundation grant SES 0922011 and Columbia Business School Dean's Office Summer Research Assistance Program. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.