The Kinked Demand Curve and Price Rigidity: Evidence from Scanner Data*
利用欧元区大型零售商的扫描数据，估计多种产品的需求曲线曲率，发现价格上升时的需求弹性高于下降时，但曲率远小于经济学常用值，表明需求曲线形状并非价格刚性的唯一来源。
Abstract We estimate the curvature of the demand curve for a wide range of products. We use an extension of Deaton and Muellbauer’s Almost Ideal Demand System and scanner data from a large euro area retailer. We find evidence that the overall price elasticity of demand is higher for price increases than for price decreases. However, the overall degree of curvature is one to two orders of magnitude smaller than the value economists usually impose. This suggests that the shape of the demand curve is unlikely to be the only source of real price rigidity.