ECB paper on firm price adjustment behaviour
A European Central Bank paper published on March 1, 2011, shows the speed of price adjustments by firms depends on response to various demand and cost shocks.
Daniel Dias, Carlos Marques, Fernando Martins and JMC Santos Silva, use survey data to investigate firm-level price rigidities and to look into the origins of lags of price adjustments to demand and cost shocks. Price adjustment lags, they claim, are a direct measure of intrinsic price rigidity and therefore may be seen as a better measure
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