@techreport{NBERw3646,
 title = "Why are Prices Sticky? Preliminary Results from an Interview Study",
 author = "Alan S. Blinder",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "3646",
 year = "1991",
 month = "March",
 URL = "http://www.nber.org/papers/w3646",
 abstract = {This paper reports preliminary results from a large research project on business pricing which is currently underway. The idea is to use interviews with actual price setters to assess the validity of a dozen theories of price stickiness. The rather unorthodox (for economists) methodology is defended; the research design is described briefly; and a few results based on the first 72 interviews (out of a projected 200) are presented. This sample suggests that the median firm changes its price annually and that price adjustments typically lag 3-4 months behind shocks to demand or cost.},
}