Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19644
Authors: 
Hoffmann, Johannes
Kurz-Kim, Jeong-Ryeol
Year of Publication: 
2006
Series/Report no.: 
Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2006,16
Abstract: 
We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index which covers the years 1998 to 2003. We strong find evidence of time- and state-dependent price adjustment. Most importantly, the differences in ?unconditional? sectoral price flexibility are found to be linked to input price volatility.
Subjects: 
price rigidity
price flexibility
Consumer Price Index
Germany
JEL: 
D43
E31
L11
Document Type: 
Working Paper

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