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dc.contributor.authorBeck, Günter W.en_US
dc.contributor.authorHubrich, Kirstinen_US
dc.contributor.authorMarcellino, Massimilianoen_US
dc.date.accessioned2010-08-11T08:53:32Z-
dc.date.available2010-08-11T08:53:32Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/37444-
dc.description.abstractWe use a novel disaggregate sectoral euro area dataset with a regional breakdown that allows explicit estimation of the sectoral component of price changes (rather than interpreting the idiosyncratic component as sectoral as done in other papers). Employing a new method to extract factors from over-lapping data blocks, we find for our euro area data set that the sectoral component explains much less of the variation in sectoral regional inflation rates and exhibits much less volatility than previous findings for the US indicate. Country- and region-specific factors play an important role in addition to the sector-specific factors. We conclude that sectoral price changes have a "geographical" dimension, as yet unexplored in the literature, that might lead to new insights regarding the properties of sectoral price changes.en_US
dc.language.isoengen_US
dc.publisherVerein für Socialpolitik Frankfurt a. M.en_US
dc.relation.ispartofseriesBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: International Price Dispersion A12-V1en_US
dc.subject.jelE31en_US
dc.subject.jelE40en_US
dc.subject.jelC30en_US
dc.subject.ddc330en_US
dc.subject.keyworddisaggregated pricesen_US
dc.subject.keywordeuro area regional and sectoral inflationen_US
dc.subject.keywordcommon factor modelsen_US
dc.titleOn the importance of sectoral shocks for price-settingen_US
dc.typeConference Paperen_US
dc.identifier.ppn655933670-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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