New Facts on Consumer Price Rigidity in the Euro Area
利用2010-2019年11个欧元区国家的CPI微观数据，揭示了价格调整频率、幅度分布及季节性特征，发现价格变动幅度随通胀上升而增大，但频率不变。
Using CPI microdata for 11 euro area countries over 2010–2019, we document new findings on consumer price rigidity in the euro area: (i) the average frequency of price changes is 12 percent; (ii) the distribution of price changes is highly dispersed, with frequent large and small changes; (iii) price changes are more frequent in January; and (iv) the overall size of price changes rises with inflation, but their frequency does not; these changes in the size are driven by movements in the fraction of price changes that are increases, not by the absolute size of price increases or decreases.