State-dependent and time-dependent price setting models yield distinct implications for how frequency and magnitude of price changes react to shocks. This note studies pricing behavior in Brazil following the large devaluation of the Brazilian Real in 1999 to distinguish between models. The...

Using semi-aggregate data on price and a methodology based on dummy indicator, we assess price rigidity in Ghana and discuss its implications for monetary policy. Price features in Ghana are compared to that of South Africa which is a similar country both in terms of economic structure and...

This note explains cross industry heterogeneity in the frequency of price adjustment. We use the quasi-maximum approach of Papke and Wooldridge (1996) to avoid the shortcomings of OLS regressions to analyse frequencies. We pay particular attention to the role of costs and market competition in...