type="main" xml:lang="en" <p>Temporal distribution of individual price changes is of crucial importance for business cycle theory and for the microfoundations of price adjustment. While it is routinely assumed that price changes are staggered over time, both theory and evidence are ambiguous. We...</p>

Temporal distribution of individual price changes is of crucial importance for business cycle theory and for the micro-foundations of price adjustment. While it is routinely assumed that price changes are staggered over time, both theory and evidence are ambiguous. We use a large Belgian data...

Temporal distribution of individual price changes is of crucial importance for business cycle theory and for the microfoundations of price adjustment. While it is routinely assumed that price changes are staggered over time, both theory and evidence are ambiguous. We use a large Belgian data set...

The study on price stickiness examined nominal rigidities in the euro area and their importance for the functioning of markets. The study examined nominal rigidities in the euro area and their importance for the functioning of markets. It analysed the price setting behaviour of firms at the...

The paper studies the effect of inflation on price behaviour using price data from Canadian daily newspapers. We test the Sheshinski and Weiss (1977) monopoly price adjustment model on a sample of monopolistic as well as oligopolistic newspapers, in contrast to earlier studies that used data...

We analyze the effect of inflation on the average output of monopolistic firms facing a small fixed cost of changing nominal prices. Using Taylor expansions, we derive a general closed-form solution for the slope of the long-run Phillips curve. This very simple, unifying formula allows us to...

Discussion of: Lumpy Price Adjustments: A Microeconometric Analysis by Emmanuel Dhyne, Catherine Fuss, Hashem Pesaran and Patrick Sevestre, National Bank of Belgium International Conference on \"Price and Wage Rigidities in an Open Economy\", Brussels, October 12, 2006.

I analyse the optimal rate of inflation when prices are costly to change. As the costs of price adjustment are the main friction in the model, effects of inflation stem from the accounting role of money. Inflation increases relative price variability and reduces the average product of labour....