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Advisor(s)
Abstract(s)
This paper identifies the empirical stylized features of consumer price setting behavior in Portugal using two micro-datasets underlying the consumer price index. The main conclusions are: one in every four prices change each month; there is a considerable degree of heterogeneity in price setting practices; prices of goods change more often than prices of services; price reductions are common, as they account to around 40% of total price changes; price changes are, in general, sizeable; finally, the price setting patterns seem to depend on the level of inflation as well as on the type of outlet.
Description
Keywords
Price setting Consumer prices Frequency of price changes
Pedagogical Context
Citation
Dias, Mónica Costa, Daniel A. Dias e Pedro Duarte Neves (2008). "Stylised features of consumer price setting behaviour in Portugal : 1992–2001". Portuguese Economic Journal, 7(2):75-99
Publisher
Springer Verlag