Thomas Y. Mathä

TL;DR: In this paper, the authors investigated the pricing behavior of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms and found that firms operate in monopolistically competitive markets, where prices are mostly set following markup rules and where price discrimination is common.

TL;DR: In this article, the authors investigated the pricing behavior of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms and found that firms operate in monopolistically competitive markets, where prices are mostly set following markup rules and where price discrimination is common.

TL;DR: In this paper, the authors used micro-level price data and analyzed the behavior of consumer prices in Luxembourg and found that the median duration of consumer price is roughly 8 months, while prices of services typically change fewer than once a year.

TL;DR: In this paper, the degree of inflation persistence in the EU15, the euro area and each of its member states using disaggregate price indices from the Harmonized Index of Consumer Prices was analyzed.

TL;DR: In this article, the authors synthesize the implications of recent statistical evidence regarding inflation persistence in the euro area and show that the degree of inflation persistence appears to be very high for sample periods spanning multiple decades but falls dramatically once they allow for time variation in the mean level of inflation; furthermore, the timing of these breaks in mean generally coincides with observed shifts in the monetary policy regime.