Microfoundations for price stickiness and its implications for macroeconomics

本研究项目由本研究基金资助，从理论和实证两方面分析了相同商品或服务之间的价格变化（即一价偏差定律）与价格调整频率的相互作用。特别是，该项目的一篇论文表明，企业持有的不完全信息可能解释粘性价格模型与美国和加拿大观察到的关于一价定律偏差的现实之间的不一致。在另一篇论文中，我和我的合著者发现，在日本城市观察到的一价定律偏差是如何与价格调整的频率相关的。

This research project supported by this research fund theoretically and empirically analyzed how variations in prices among the same goods or services (i.e., the law-of-one-price deviations) interact with the frequency of price adjustment. In particular, one of the papers in this project shows the possibility that imperfect information held by firms may explain inconsistency between the sticky price models and the reality regarding the law-of-one-price deviations observed in the U.S. and Canada. In another paper, my co-authors and I find how the law-of-one-price deviations observed in Japanese cities are related to the frequency of price adjustment.