Nakamura, Emi; Steinsson, Jón - In: The Quarterly Journal of Economics 123 (2008) 4, pp. 1415-1464
We establish five facts about prices in the U.S. economy: (1) For consumer prices, the median frequency of nonsale price change is roughly half of what it is including sales (9-12% per month versus 19-20% per month for identical items; 11-13% per month versus 21-22% per month including product...