Arbeitspapier
Sticky prices in the euro area: a summary of new micro evidence
This paper presents original evidence on price setting in the euro area at the individual level. We use micro data on consumer (CPI) and producer (PPI) prices, as well as survey information. Our main findings are: (i) prices in the euro area are sticky and more so than in the US; (ii) there is evidence of heterogeneity and of asymmetries in price setting behaviour; (iii) downward price rigidity is only slightly more marked than upward price rigidity and (iv) implicit or explicit contracts and coordination failure theories are important, whereas menu or information costs are judged much less relevant by firms.
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 563
Single Equation Models; Single Variables: Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
Market Structure, Pricing, and Design: General
Price Level; Inflation; Deflation
price setting
Price stickiness
producer prices
survey data
Preisrigidität
Preismanagement
Preisniveau
EU-Staaten
Dhyne, Emmanuel
Hoeberichts, Marco M.
Kwapil, Claudia
Le Bihan, Hervé
Lünnemann, Patrick
Martins, Fernando
Sabbatini, Roberto
Stahl, Harald
Vermeulen, Philip
Vilmunen, Jouko
- Handle
- Last update
-
20.09.2024, 8:24 AM CEST
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Álvarez, Luis J.
- Dhyne, Emmanuel
- Hoeberichts, Marco M.
- Kwapil, Claudia
- Le Bihan, Hervé
- Lünnemann, Patrick
- Martins, Fernando
- Sabbatini, Roberto
- Stahl, Harald
- Vermeulen, Philip
- Vilmunen, Jouko
- European Central Bank (ECB)
Time of origin
- 2005