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dc.contributor.authorDhyne, Emmanuelen_US
dc.contributor.authorFuss, Catherineen_US
dc.contributor.authorPesaran, Mohammad Hashemen_US
dc.contributor.authorSevestre, Patricken_US
dc.date.accessioned2007-12-18en_US
dc.date.accessioned2010-07-07T11:23:13Z-
dc.date.available2010-07-07T11:23:13Z-
dc.date.issued2007en_US
dc.identifier.piurn:nbn:de:101:1-20080401372en_US
dc.identifier.urihttp://hdl.handle.net/10419/34398-
dc.description.abstractThis paper presents a simple model of state-dependent pricing that allows identification of the relative importance of the degree of price rigidity that is inherent to the price setting mechanism (intrinsic) and that which is due to the price's driving variables (extrinsic). Using two data sets consisting of a large fraction of the price quotes used to compute the Belgian and French CPI, we are able to assess the role of intrinsic and extrinsic price stickiness in explaining the occurrence and magnitude of price changes at the outlet level. We find that infrequent price changes are not necessarily associated with large adjustment costs. Indeed, extrinsic rigidity appears to be significant in many cases. We also find that asymmetry in the price adjustment could be due to trends in marginal costs and/or desired mark-ups rather than asymmetric cost of adjustment bands.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 2793en_US
dc.subject.ddc330en_US
dc.subject.stwPreisrigiditäten_US
dc.subject.stwPreisen_US
dc.subject.stwAnpassungen_US
dc.subject.stwLebenshaltungsindexen_US
dc.subject.stwSchätzungen_US
dc.subject.stwBelgienen_US
dc.subject.stwFrankreichen_US
dc.titleLumpy price adjustments: a microeconometric analysisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn555510999en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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