This paper evaluates the informativeness of eight micro pricing moments for monetary non-neutrality. Frequency of price changes is the only robustly informative moment. The ratio of kurtosis over frequency is significant only because of frequency, and insignificant when non-pricing moments are...

Cross-sectional variation in micro data can be used to empirically evaluate sufficient statistics for the response of aggregate variables to policy shocks of interest. We demonstrate an easy-to-use approach through a detailed example. We evaluate the sufficiency of micro pricing moments for the...