Price Setting in the Euro Area: Some Stylized Facts from Individual Producer Price Data
总结了欧元区生产者价格设定的微观证据，发现21%的生产者价格每月调整一次，价格变动比消费者价格更频繁但幅度更小，降价相对常见，通胀与调价频率差异正相关，且价格灵活性因行业而异。
This paper summarizes the microevidence on the setting of producer prices in the euro area. The main findings are: (i) 21% of producer prices are adjusted each month, (ii) producer prices are changed more frequently and by smaller amounts than consumer prices (even after controlling for product characteristics), (iii) price decreases are relatively frequent, (iv) inflation correlates positively with the difference between the frequency of price increases and decreases, and (v) there is substantial variation in price flexibility across sectors, which can be explained in part by differences in the cost structure, the degree of competition, and the level of sectoral inflation.