American Economic Journal:
Macroeconomics
ISSN 1945-7707 (Print) | ISSN 1945-7715 (Online)
Inflation and Price Adjustments: Micro Evidence from Norwegian Consumer Prices 1975-2004
American Economic Journal: Macroeconomics
vol. 8,
no. 3, July 2016
(pp. 175–94)
Abstract
This is the first paper documenting the frequency and size of price adjustments using micro data from both the high-inflation period in the 1970s and 1980s, and the period of low inflation since the early 1990s. When inflation is high and volatile, prices change more frequently and in smaller magnitudes. When inflation is low and stable, prices change less frequently but in larger magnitudes. The frequency of price changes is more important for the variation in inflation when inflation is high and volatile. When inflation is low and stable, the magnitude of the price changes is more important than the frequency.Citation
Wulfsberg, Fredrik. 2016. "Inflation and Price Adjustments: Micro Evidence from Norwegian Consumer Prices 1975-2004." American Economic Journal: Macroeconomics, 8 (3): 175–94. DOI: 10.1257/mac.20140095Additional Materials
JEL Classification
- E31 Price Level; Inflation; Deflation
- E32 Business Fluctuations; Cycles
- L11 Production, Pricing, and Market Structure; Size Distribution of Firms
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