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dc.contributor.authorBeck, Günter W.en
dc.contributor.authorHubrich, Kirstinen
dc.contributor.authorMarcellino, Massimilianoen
dc.date.accessioned2010-08-11T08:53:32Z-
dc.date.available2010-08-11T08:53:32Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/37444-
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
dc.language.isoengen
dc.publisher|aVerein für Socialpolitik |cFrankfurt a. M.en
dc.relation.ispartofseries|aBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: International Price Dispersion |xA12-V1en
dc.subject.jelE31en
dc.subject.jelE40en
dc.subject.jelC30en
dc.subject.ddc330en
dc.subject.keyworddisaggregated pricesen
dc.subject.keywordeuro area regional and sectoral inflationen
dc.subject.keywordcommon factor modelsen
dc.titleOn the importance of sectoral shocks for price-setting-
dc.typeConference Paperen
dc.identifier.ppn655933670en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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