(2007), “Menu costs and Phillips curves”, Journal of Political Economy, Vol. 115, No 2, pp. 171-199. 6. Karadi, P., Schoenle, R. and Wursten, J. (2021), “Measuring price selection in microdata: it’s not there”, Working Paper Series, No 2566, ECB, Frankfurt am Main, June.
While this paper uses data from the United States, its findings are consistent with the results based on euro area data (see Gautier, E. et al. (2022), “New facts on consumer price rigidity in the euro area”, Working Paper Series, No 2669, ECB, Frankfurt am Main, June). 7. Dotsey, M., King, R.G. and Wolman, A.L.