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dc.contributor.authorBeck, Guenter W.en_US
dc.contributor.authorHubrich, Kirstinen_US
dc.contributor.authorMarcellino, Massimilianoen_US
dc.date.accessioned2010-03-29en_US
dc.date.accessioned2010-12-15T09:23:00Z-
dc.date.available2010-12-15T09:23:00Z-
dc.date.issued2009en_US
dc.identifier.piurn:nbn:de:hebis:30-73629-
dc.identifier.urihttp://hdl.handle.net/10419/43276-
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.publisherCenter for Financial Studies Frankfurt, Mainen_US
dc.relation.ispartofseriesCFS Working Paper 2009/32en_US
dc.subject.jelE31en_US
dc.subject.jelE4en_US
dc.subject.jelE5en_US
dc.subject.jelC3en_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.subject.stwInflationen_US
dc.subject.stwPreisspanneen_US
dc.subject.stwBrancheen_US
dc.subject.stwSchocken_US
dc.subject.stwRegionale Preisstrukturen_US
dc.subject.stwSchätzungen_US
dc.subject.stwEurozoneen_US
dc.titleOn the importance of sectoral shocks for price-settingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn622760483en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cfswop:200932-
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

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