Repricing Avalanches in the Billion-Prices Data
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Nirei and Scheinkman (2021) proposed an equilibrium model of price adjustments with menu-costs with a finite number of firms and derived a reproduction number for repricing and a limit functional form for the distribution of the number of simultaneously price-adjusting firms. We show that the
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美国国家经济研究局创建时间：
2021-09-01
