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Title:Consumer price adjustment under the microscope: Germany in a period of low inflation PDF Logo
Authors:Hoffmann, Johannes
Kurz-Kim, Jeong-Ryeol
Issue Date:2006
Series/Report no.:Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2006,16
Abstract:We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index which covers the years 1998 to 2003. We strong find evidence of time- and state-dependent price adjustment. Most importantly, the differences in ?unconditional? sectoral price flexibility are found to be linked to input price volatility.
Subjects:price rigidity
price flexibility
Consumer Price Index
Germany
JEL:D43
E31
L11
Document Type:Working Paper
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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