What Do Thirteen Million Price Records Have to Say About Consumer Price Rigidity?

@article{Baudry2007WhatDT,
  title={What Do Thirteen Million Price Records Have to Say About Consumer Price Rigidity?},
  author={Laurent Baudry and Herv{\'e} le Bihan and Patrick Sevestre and Sylvie Tarrieu},
  journal={ERN: Behavioral Economics (Topic)},
  year={2007}
}
Based on the analysis of 13 million price records underlying the computation of the French consumer price index, we provide a detailed assessment of consumer price rigidity. Our main results are as follows. The average duration of prices is around 8 months. Price durations and the patterns of price-setting strongly differ across sectors. Price cuts are almost as frequent as increases, suggesting no specific downward nominal rigidity. Price changes typically have large absolute sizes. Time… 
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