TY  - UNPD
A1  - Midrigan, Virgiliu
T1  - Menu costs, multi-product firms, and aggregate fluctautions
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2007,13
N2  - I employ a large set of scanner price data collected in retail stores to document that (i) although the average magnitude of price changes is large, a substantial number of price changes are small in absolute value; (ii) the distribution of non-zero price changes has fat tails; and (iii) stores tend to adjust prices of goods in narrow product categories simultaneously. I extend the standard menu costs model to a multi-product setting in which firms face economies of scale in the technology of adjusting prices. The model, because of its ability to replicate this additional set of micro-economic facts, can generate aggregate fluctuations much larger than those in standard menu costs economies. JEL Classification: E31, E32
T3  - CFS working paper series - 2007, 13 
KW  - State-Dependent Pricing
KW  - Multi-Products Firms
KW  - Mehrproduktbetrieb
KW  - Preisbildung
Y1  - 2007
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/1608
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-38230
IS  - January 2006
ER  -