Some Evidence on the Adjustment of Producer Prices*
利用低通胀微观价格数据集，发现生产者价格每月调整比例为24%，调整幅度平均为6%，比消费者价格调整更频繁但幅度更小，且行业异质性与成本结构相关。
Abstract We document producer price adjustment using a low‐inflation micro price dataset. On average 24% of prices adjust each month, with an average increase/decrease of 6%. Producer prices adjust more frequently than consumer prices, but their size of adjustment is typically smaller. Sectoral heterogeneity in the frequency of price adjustment is strongly related to heterogeneity in the cost structure. Fluctuations in aggregate producer price inflation occur to a large extent through variation in the relative share of upward and downward price adjustment.