TY - UNPB
T1 - The size, frequency and synchronization of price adjustment: Microeconomic evidence.
AU - Rátfai, Attila
PY - 2000
Y1 - 2000
N2 - This paper presents non-parametric microeconomic evidence on stores’ price setting behavior and evaluates the findings in light of theories of nominal price rigidity. The main issues include the durability of price quotations, the size, the frequency and the across-store and within-store synchronization of price changes. The analysis is based on a unique, high frequency panel data set of consumer prices recorded between 1993 and 1996 in Hungary. The results indicate that basic price adjustment patterns tend to be consistent with implications of two-sided (S,s) pricing models. Other popular macroeconomic models of price setting are boldly violated by the data.
AB - This paper presents non-parametric microeconomic evidence on stores’ price setting behavior and evaluates the findings in light of theories of nominal price rigidity. The main issues include the durability of price quotations, the size, the frequency and the across-store and within-store synchronization of price changes. The analysis is based on a unique, high frequency panel data set of consumer prices recorded between 1993 and 1996 in Hungary. The results indicate that basic price adjustment patterns tend to be consistent with implications of two-sided (S,s) pricing models. Other popular macroeconomic models of price setting are boldly violated by the data.
UR - https://m2.mtmt.hu/api/publication/180771
M3 - Discussion paper
T3 - Discussion papers in economics and econometrics, 0029.
BT - The size, frequency and synchronization of price adjustment: Microeconomic evidence.
PB - University of Southampton
CY - Southampton
ER -