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Pricing Decisions in the Euro AreaHow Firms Set Prices and Why$
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Silvia Fabiani, Claire Suzanne Loupias, Fernando Manuel Monteiro Martins, and Roberto Sabbatini

Print publication date: 2007

Print ISBN-13: 9780195309287

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780195309287.001.0001

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A Comparison Based on International Survey Evidence

A Comparison Based on International Survey Evidence

Chapter:
(p.185) 12 A Comparison Based on International Survey Evidence
Source:
Pricing Decisions in the Euro Area
Author(s):

Patrick Lünnemann

Thomas Mathä

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195309287.003.0013

This chapter compares internationally the available survey evidence of firms' price setting behavior. It reports a number of remarkable similarities across countries. Firms typically operate in imperfectly competitive markets, where they have a low market share, face several competitors, and are primarily engaged in long-term relationships with their customers, mainly other firms. The modal price review and price change frequency per year is one across countries. Implicit and explicit contracts, coordination failure, and cost-based pricing are recognized as the most important reasons for price rigidity.

Keywords:   Survey, price setting behavior, price rigidity

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