Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much

Publikation: Working paper › Forskning

Standard

Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much. / Goette, Lorenz F.; Minsch, Rudolf; Tyran, Jean-Robert.

2005.

Publikation: Working paper › Forskning

Harvard

Goette, LF, Minsch, R & Tyran, J-R 2005 'Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much'. https://doi.org/10.2139/ssrn.840384

APA

Goette, L. F., Minsch, R., & Tyran, J-R. (2005). Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much. https://doi.org/10.2139/ssrn.840384

Vancouver

Goette LF, Minsch R, Tyran J-R. Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much. 2005 nov. 10. https://doi.org/10.2139/ssrn.840384

Author

Goette, Lorenz F. ; Minsch, Rudolf ; Tyran, Jean-Robert. / Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much. 2005.

Bibtex

@techreport{956d8bafcca7492b8c11b57710df22e1,
title = "Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much",
abstract = "We use a unique panel data set to analyze price setting in restaurants in Switzerland 1977-1993, for items known to have sticky prices. The macroeconomic environment during this time period allows us to examine how firms adjust prices at low (0%) and fairly high (7%) inflation. Our results indicate that firms strongly react to inflation in the timing of their price adjustment: hazard of price changes is increasing with time and becomes steeper at higher inflation rates. However, we find little evidence that the amount by which they change the price responds to the inflation rate.",
keywords = "Sticky prices, Inflation, Nominal inertia",
author = "Goette, {Lorenz F.} and Rudolf Minsch and Jean-Robert Tyran",
year = "2005",
month = nov,
day = "10",
doi = "10.2139/ssrn.840384",
language = "English",
type = "WorkingPaper",

}

RIS

TY - UNPB

T1 - Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much

AU - Goette, Lorenz F.

AU - Minsch, Rudolf

AU - Tyran, Jean-Robert

PY - 2005/11/10

Y1 - 2005/11/10

N2 - We use a unique panel data set to analyze price setting in restaurants in Switzerland 1977-1993, for items known to have sticky prices. The macroeconomic environment during this time period allows us to examine how firms adjust prices at low (0%) and fairly high (7%) inflation. Our results indicate that firms strongly react to inflation in the timing of their price adjustment: hazard of price changes is increasing with time and becomes steeper at higher inflation rates. However, we find little evidence that the amount by which they change the price responds to the inflation rate.

AB - We use a unique panel data set to analyze price setting in restaurants in Switzerland 1977-1993, for items known to have sticky prices. The macroeconomic environment during this time period allows us to examine how firms adjust prices at low (0%) and fairly high (7%) inflation. Our results indicate that firms strongly react to inflation in the timing of their price adjustment: hazard of price changes is increasing with time and becomes steeper at higher inflation rates. However, we find little evidence that the amount by which they change the price responds to the inflation rate.

KW - Sticky prices

KW - Inflation

KW - Nominal inertia

U2 - 10.2139/ssrn.840384

DO - 10.2139/ssrn.840384

M3 - Working paper

BT - Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much

ER -

ID: 241647418