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How Sticky Are U.S. Consumer Prices?

Jan 2005
Policy Brief
By  Pete Klenow
Pete Klenow received his Ph.D. from Stanford University, where he is currently Professor of Economics and Senior Fellow at SIEPR. He is also a Research Associate of the National Bureau of Economic Research, for whom he organizes conferences on Economic Growth. He is on the Board of Editors of the American Economic Review and the Review of Economic Dynamics. Klenow specializes in macroeconomics, with emphasis on productivity and prices across firms, countries, and time. His recent work documents patterns of pricing in the CPI micro data, and draws implications for business cycles and monetary policy.