Supplementary Appendix to 'Repricing Avalanches'

43 Pages Posted: 30 Mar 2021 Last revised: 6 Jul 2023

See all articles by Makoto Nirei

Makoto Nirei

University of Tokyo

José A. Scheinkman

Columbia University; Princeton University - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: July 1, 2023


In this Supplementary Appendix, we extend the baseline model of "Repricing Avalanches" to the case where productivity is not constant. Even though some portions are a straightforward extension of the baseline model, we allow for some overlap with the main text for a self-contained exposition of the extended model. We also provide an extended model with non-accommodative monetary policy setup.

Keywords: State-dependent pricing, menu costs, strategic complementarity, inflation volatility, aggregate fluctuations, self-organized criticality, Generalized Poisson distribution

JEL Classification: E31

Suggested Citation

Nirei, Makoto and Scheinkman, José, Supplementary Appendix to 'Repricing Avalanches' (July 1, 2023). Available at SSRN: or

Makoto Nirei (Contact Author)

University of Tokyo ( email )

7-3-1 Hongo
Tokyo, 113-0033

José Scheinkman

Columbia University ( email )

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United States

Princeton University - Department of Economics ( email )

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National Bureau of Economic Research (NBER) ( email )

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