TY  - JOUR
AU  - Kashyap,Anil K
TI  - Sticky Prices: New Evidence from Retail Catalogs
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 4855
PY  - 1994
Y2  - September 1994
UR  - http://www.nber.org/papers/w4855
L1  - http://www.nber.org/papers/w4855.pdf
N1  - Author contact info:
Anil Kashyap
Booth School of Business
University of Chicago
5807 S. Woodlawn Avenue
Chicago, IL 60637
Tel: 773/702-7260
Fax: 773/702-0458
E-Mail: anil.kashyap@chicagobooth.edu
AB  - This paper presents new results on the size, frequency, and synchronization of price changes for twelve selected retail goods over the past 35 years.  Three basic facts about the data are uncovered: first, nominal prices are typically fixed for more than one year although the time between changes is very irregular; second, prices change more often during periods of high overall inflation; third, when prices do change, the sizes of the changes are widely dispersed. Both 'large' and 'small' changes occur for the same item and the sizes of these changes do not closely depend on overall inflation.
ER  -