Reference Prices, Costs, and Nominal Rigidities
利用新的周度扫描数据集，发现名义刚性主要表现为参考价格和成本的惯性，参考价格平均持续约一年，而周度价格每两周变动一次，并揭示了价格对成本的状态依赖性。
We assess the importance of nominal rigidities using a new weekly scanner dataset. We find that nominal rigidities take the form of inertia in reference prices and costs, defined as the most common prices and costs within a given quarter. Reference prices are particularly inertial and have an average duration of roughly one year, even though weekly prices change roughly once every two weeks. We document the relation between prices and costs and find sharp evidence of state dependence in prices. We use a simple model to argue that reference prices and costs are useful statistics for macroeconomic analysis..