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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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Asymmetries in Price Setting

Asymmetries in Price Setting

Some Evidence from French Survey Data

Chapter:
(p.83) 5 Asymmetries in Price Setting
Source:
Pricing Decisions in the Euro Area
Author(s):

Claire Loupias

Roland Ricart

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195309287.003.0006

This chapter reports the results on price setting asymmetries of French manufacturing companies from a survey conducted by the Banque de France during winter 2003–04. Price increases are more likely (70 percent) than price decreases (30 percent) among price changes. The magnitude of positive price changes over the year 2003 (3 percent for the median increase) is lower than the one of negative price changes (−5 percent). Asymmetries are found to be different for cost shocks compared to demand shocks: prices are more rigid downward than upward for cost shocks, while the reverse is true for demand shocks (prices are more rigid upward than downward).

Keywords:   French companies, price setting, survey, price rigidity, asymmetries

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