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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank >
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http://hdl.handle.net/10419/19644
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| Title: | | Consumer price adjustment under the microscope: Germany in a period of low inflation  |
| 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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