Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/109065
Authors: 
Dixon, Huw David
Luintel, Kul B.
Tian, Kun
Year of Publication: 
2014
Series/Report no.: 
Cardiff Economics Working Papers E2014/7
Abstract: 
This paper takes the locally collected price-quotes used to construct the CPI index in the UK for the period 1996-2013 to explore the impact of the crisis on the pricing behavior of firms. We develop a time-series framework which is able to capture the link between macro- economic variables (in?ation and output) and the behavior of prices in terms of the frequency of price change, the dispersion of price levels and the dispersion of price-growth. Whilst these effects are present, they are small and do not have significant effects for monetary policy.
Subjects: 
Price-spell
steady state
duration
JEL: 
E50
Document Type: 
Working Paper

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