The last decade has seen a burst of micro price studies. Many studies analyze data underlying national CPIs and PPIs. Others focus on more granular sub-national grocery store data. Pete Klenow reviews these studies with an eye toward the role of price setting in business cycles. Pete Klenow is the Ralph Landau Professor in Economic Policy and the Gordon and Betty Moore Senior Fellow at the Stanford Institute for Economic Policy Research.
Image courtesy of interviewee. January 15, 2018