Micro evidence: United States

Shaowen Luo and Daniel Villar

Chapter 11 in Research Handbook on Inflation, 2025, pp 240-264 from Edward Elgar Publishing

Abstract: This chapter reviews the empirical evidence on price adjustment at the product (“micro”) level, with a focus on US data. Basic facts about the frequency and size of price changes are discussed. We also review evidence on state- versus time-dependent price setting, and micro evidence on monetary non-neutrality, including evidence from higher moments of the price change distribution. We cover findings from official government surveys, such as the US CPI micro data, but also from alternative data sources, such as web-scraped or retail scanner data.

Keywords: Sticky prices; Nominal rigidities; State-dependent prices; Inflation; Micro data (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035327751
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