Rigid prices
Subtitle: evidence from U.S. scanner data
By: Jeffrey R. Campbell, Benjamin Eden.
Contributors: Eden, Benjamin.; Federal Reserve Bank of Chicago. Research Dept.
Series: Working paper series ;; WP-2005-08; Working paper series (Federal Reserve Bank of Chicago. Research Dept. : Online) ;; WP-2005-08.
Publisher: Federal Reserve Bank of Chicago
Published: 2005
Place of publication: [Chicago, Ill.]
Language: eng
Format: Electronic resource
Subjects: Prices -- United States -- Econometric models.; Grocery trade -- United States.
Description: "This paper uses over two years of weekly scanner data from two small US cities to characterize time and state dependence of grocers' pricing decisions.  In these data, the probability of a nominal adjustment declines with the time since the last price change.  This reflects differences over time in the flexibility of prices charged by a single store for a given good.  We also detect state dependence: The probability of a nominal adjustment is highest when a store's price substantially differs from the average of other stores.  However, extreme prices typically reflect the selling store's recent nominal adjustments rather than changes in other stores' prices"--Federal Reserve Bank of Chicago web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 10/22/2005.
Also available in print.
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Mode of access: World Wide Web.