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  • 标题:Why are some prices stickier than others? Firm-data evidence on price adjustment lags
  • 本地全文:下载
  • 作者:Daniel Dias ; Carlos Robalo Marques ; Fernando Martins
  • 期刊名称:Euro Area Balance of Payments and International Investment Position Statistics
  • 印刷版ISSN:1830-3420
  • 电子版ISSN:1830-3439
  • 出版年度:2011
  • 出版社:European Central Bank
  • 摘要:Infrequent price changes at the 􀀟rm level are now well documented in the literature. However, a number of issues remain partly unaddressed. This paper contributes to the literature on price stickiness by investigating the lags of price adjustments to di􀀞erent types of shocks. We 􀀟nd that adjustment lags to cost and demand shocks vary with 􀀟rm characteristics, namely the 􀀟rm’s cost structure, the type of pricing policy, and the type of good. We also document that 􀀟rms react asymmetrically to demand and cost shocks, as well as to positive and negative shocks, and that the degree and direction of the asymmetry varies across 􀀟rms.
  • 关键词:Firm heterogeneity; Panel-ordered probit; Real rigidities; Survey data.
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