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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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What Quantitative Micro Data Reveal about Price Setting Behavior

What Quantitative Micro Data Reveal about Price Setting Behavior

Chapter:
(p.218) 14 What Quantitative Micro Data Reveal about Price Setting Behavior
Source:
Pricing Decisions in the Euro Area
Author(s):

Roberto Sabbatini

Luis J. Álvarez

Emmanuel Dhyne

Marco Hoeberichts

Hervé Le Bihan

Patrick Lünnemann

Fernando Martins

Fabio Rumler

Harald Stahl

Philip Vermeulen

Giovanni Veronese

Jouko Vilmunen

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195309287.003.0015

This chapter summarizes the vast evidence on price setting based on micro consumer and producer price data obtained for euro area countries. This analysis captures features of price behavior that cannot be fully analyzed with surveys, as well as provides important complementary evidence on the frequency and size of price changes. The main findings are that prices in the euro area are stickier than in the United States, downward price rigidity is only slightly more marked than upward price rigidity, and heterogeneity and asymmetries are observed in price setting.

Keywords:   Price setting, price changes, micro consumer prices, micro producer prices, downward price rigidity

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