IDEAS home Printed from https://ideas.repec.org/p/bls/wpaper/547.html

Price-Setting During the Covid Era

Author

Listed:
  • Hugh Montag
  • Daniel Villar

Abstract

https://www.bls.gov/osmr/research-papers/2022/ec220020.htm

Suggested Citation

  • Hugh Montag & Daniel Villar, 2022. "Price-Setting During the Covid Era," Economic Working Papers 547, Bureau of Labor Statistics.
    • Handle: RePEc:bls:wpaper:547
    as

    Download full text from publisher

    File URL: https://www.bls.gov/osmr/research-papers/2022/pdf/ec220020.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jerome H. Powell, 2021. "Monetary Policy in the Time of COVID," Speech 93064, Board of Governors of the Federal Reserve System (U.S.).
    2. Fernando Alvarez & Martin Beraja & Martín Gonzalez-Rozada & Pablo Andrés Neumeyer, 2019. "From Hyperinflation to Stable Prices: Argentina’s Evidence on Menu Cost Models," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 134(1), pages 451-505.
    3. W. Erwin Diewert & Kevin J. Fox, 2020. "Measuring Real Consumption and CPI Bias under Lockdown Conditions," NBER Working Papers 27144, National Bureau of Economic Research, Inc.
    4. Erwan Gautier & Cristina Conflitti & Riemer P. Faber & Brian Fabo & Ludmila Fadejeva & Valentin Jouvanceau & Jan-Oliver Menz & Teresa Messner & Pavlos Petroulas & Pau Roldan-Blanco & Fabio Rumler & Se, 2024. "New Facts on Consumer Price Rigidity in the Euro Area," American Economic Journal: Macroeconomics, American Economic Association, vol. 16(4), pages 386-431, October.
    5. Mikhail Golosov & Robert E. Lucas Jr., 2007. "Menu Costs and Phillips Curves," Journal of Political Economy, University of Chicago Press, vol. 115(2), pages 171-199.
    6. Shaowen Luo & Daniel Villar, 2021. "The Skewness of the Price Change Distribution: A New Touchstone for Sticky Price Models," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 41-72, February.
    7. Peter J. Klenow & Oleksiy Kryvtsov, 2008. "State-Dependent or Time-Dependent Pricing: Does it Matter for Recent U.S. Inflation?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(3), pages 863-904.
    8. Erica L. Groshen & Brian C. Moyer & Ana M. Aizcorbe & Ralph Bradley & David M. Friedman, 2017. "How Government Statistics Adjust for Potential Biases from Quality Change and New Goods in an Age of Digital Technologies: A View from the Trenches," Journal of Economic Perspectives, American Economic Association, vol. 31(2), pages 187-210, Spring.
    9. Fernando Alvarez & Hervé Le Bihan & Francesco Lippi, 2016. "The Real Effects of Monetary Shocks in Sticky Price Models: A Sufficient Statistic Approach," American Economic Review, American Economic Association, vol. 106(10), pages 2817-2851, October.
    10. Emi Nakamura & Jón Steinsson, 2008. "Five Facts about Prices: A Reevaluation of Menu Cost Models," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(4), pages 1415-1464.
    11. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
    12. Mark Bils & Peter J. Klenow, 2004. "Some Evidence on the Importance of Sticky Prices," Journal of Political Economy, University of Chicago Press, vol. 112(5), pages 947-985, October.
    13. Erwan Gautier & Cristina Conflitti & Riemer P. Faber & Brian Fabo & Ludmila Fadejeva & Valentin Jouvanceau & Jan-Oliver Menz & Teresa Messner & Pavlos Petroulas & Pau Roldan-Blanco & Fabio Rumler & Se, 2022. "New facts on consumption price rigidity in the Euro Area," Working and Discussion Papers WP 1/2022, Research Department, National Bank of Slovakia.
    14. Martin Eichenbaum & Nir Jaimovich & Sergio Rebelo & Josephine Smith, 2014. "How Frequent Are Small Price Changes?," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(2), pages 137-155, April.
    15. Joseph Vavra, 2014. "Inflation Dynamics and Time-Varying Volatility: New Evidence and an Ss Interpretation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 129(1), pages 215-258.
    16. Alberto Cavallo, 2024. "Inflation with Covid Consumption Baskets," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(2), pages 902-917, June.
    17. Cavallo, Alberto & Kryvtsov, Oleksiy, 2023. "What can stockouts tell us about inflation? Evidence from online micro data," Journal of International Economics, Elsevier, vol. 146(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jake D. Orchard, 2025. "Non-homothetic Demand Shifts and Inflation Inequality," Finance and Economics Discussion Series 2025-085, Board of Governors of the Federal Reserve System (U.S.).
    2. Alberto Cavallo & Oleksiy Kryvtsov, 2024. "Price Discounts and Cheapflation during the Post-Pandemic Inflation Surge," NBER Chapters, in: Inflation in the COVID Era and Beyond, National Bureau of Economic Research, Inc.
    3. Khalil, Makram & Lewis, Vivien, 2024. "Product turnover and endogenous price flexibility in uncertain times," CEPR Discussion Papers 18941, C.E.P.R. Discussion Papers.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pascal Seiler & Barbara Rudolf, 2022. "Price Setting Before and During the Pandemic: Evidence from Swiss Consumer Prices," KOF Working papers 22-506, KOF Swiss Economic Institute, ETH Zurich.
    2. Karadi, Peter & Amann, Juergen & Bachiller, Javier Sánchez & Seiler, Pascal & Wursten, Jesse, 2023. "Price setting on the two sides of the Atlantic - Evidence from supermarket scanner data," Journal of Monetary Economics, Elsevier, vol. 140(S), pages 1-17.
    3. Hahn, Volker & Marenčák, Michal, 2020. "Price points and price dynamics," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 127-144.
    4. Luo, Shaowen & Villar, Daniel, 2021. "The price adjustment hazard function: Evidence from high inflation periods," Journal of Economic Dynamics and Control, Elsevier, vol. 130(C).
    5. Hong, Gee Hee & Klepacz, Matthew & Pasten, Ernesto & Schoenle, Raphael, 2023. "The real effects of monetary shocks: Evidence from micro pricing moments," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 1-20.
    6. Huw Dixon & Kul Luintel & Kun Tian, 2020. "The Impact of the 2008 Crisis on UK Prices: What We Can Learn from the CPI Microdata," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(6), pages 1322-1341, December.
    7. Michael Weber, 2014. "Nominal Rigidities and Asset Pricing," 2014 Meeting Papers 53, Society for Economic Dynamics.
    8. Emi Nakamura & Jón Steinsson & Patrick Sun & Daniel Villar, 2018. "The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 133(4), pages 1933-1980.
    9. Guido Ascari & Timo Haber, 2019. "Sticky prices and the transmission mechanism of monetary policy: A minimal test of New Keynesian models," Economics Series Working Papers 869, University of Oxford, Department of Economics.
    10. Alvarez, Fernando & Lippi, Francesco & ,, 2013. "Small and large price changes and the propagation of monetary shocks," CEPR Discussion Papers 9770, C.E.P.R. Discussion Papers.
    11. Etienne Gagnon & David López-Salido & Nicolas Vincent, 2013. "Individual Price Adjustment along the Extensive Margin," NBER Macroeconomics Annual, University of Chicago Press, vol. 27(1), pages 235-281.
    12. Shaowen Luo & Daniel Villar, 2021. "The Skewness of the Price Change Distribution: A New Touchstone for Sticky Price Models," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 41-72, February.
    13. Marco Bonomo & Marcelo Medeiros & Arnildo Correa, 2011. "Estimating Strategic Complementarity in a State-Dependent Pricing Model," 2011 Meeting Papers 691, Society for Economic Dynamics.
    14. Karadi, Peter & Nakov, Anton & Nuño, Galo & Pasten, Ernesto & Thaler, Dominik, 2025. "Strike while the iron is hot – optimal monetary policy under state-dependent pricing," Working Paper Series 3068, European Central Bank.
    15. Nicoletta Berardi & Erwan Gautier & Hervé Le Bihan, 2015. "More Facts about Prices: France Before and During the Great Recession," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(8), pages 1465-1502, December.
    16. Peter Karadi & Adam Reiff, 2019. "Menu Costs, Aggregate Fluctuations, and Large Shocks," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(3), pages 111-146, July.
    17. Petrella, Ivan & Santoro, Emiliano & Simonsen, Lasse de la Porte, 2018. "Time-varying Price Flexibility and Inflation Dynamics," CEPR Discussion Papers 13027, C.E.P.R. Discussion Papers.
    18. Hassan Afrouzi & Joel P. Flynn & Choongryul Yang, 2024. "What Can Measured Beliefs Tell Us About Monetary Non-Neutrality?," NBER Working Papers 32541, National Bureau of Economic Research, Inc.
    19. Cosmin Ilut & Rosen Valchev & Nicolas Vincent, 2020. "Paralyzed by Fear: Rigid and Discrete Pricing Under Demand Uncertainty," Econometrica, Econometric Society, vol. 88(5), pages 1899-1938, September.
    20. Lucy Qian Liu & Liang Wang & Randall Wright, 2015. "Costly Credit and Sticky Prices," Working Papers 201505, University of Hawaii at Manoa, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bls:wpaper:547. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jennifer Cassidy-Gilbert (email available below). General contact details of provider: https://edirc.repec.org/data/blsgvus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.