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Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
Working Paper No. 100
Verlag: 
Oesterreichische Nationalbank (OeNB), Vienna
Zusammenfassung: 
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.
Schlagwörter: 
Price-setting behavior
Price rigidity
JEL: 
C25
E30
Dokumentart: 
Working Paper

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