Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152898
Authors: 
Kwapil, Claudia
Baumgartner, Josef
Scharler, Johann
Year of Publication: 
2005
Series/Report no.: 
ECB Working Paper 464
Abstract: 
This paper explores the price-setting behavior of Austrian firms based on survey evidence. Our main result is that customer relationships are a major source of price stickiness in the Austrian economy. We also find that the majority of firms in our sample follows a timedependent pricing strategy. However, a substantial fraction of firms deviates from time-dependent pricing in the case of large shocks and switches to a state-dependent pricing strategy. In addition, we present evidence suggesting that the price response to various shocks is subject to asymmetries.
Subjects: 
price rigidity
price-setting behavior
JEL: 
C25
E30
Document Type: 
Working Paper

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