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- handle: 10670/1.sj6r8l
- hal: hal-02417497
- doi: 10.1111/jmcb.12675
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info:eu-repo/semantics/altIdentifier/doi/10.1111/jmcb.12675
info:eu-repo/semantics/OpenAccess
Mots-clés
price stickiness price reviews price changes inflated ordered probit model C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C23 - Panel Data Models • Spatio-temporal Models C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C25 - Discrete Regression and Qualitative Choice Models • Discrete Regressors • Proportions • Probabilities E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles/E.E3.E31 - Price Level • Inflation • DeflationSujets proches
Reviews Reviews Reviews Theater reviews Reviews Television plays--Reviews Television reviews Commercial products--Prices Commodity prices Price theory Justum pretium Reviews Newspapers--Sections, columns, etc.--Book section Book reviews ReviewsCiter ce document
Mark Harris et al., « Identifying Price Reviews by Firms: An Econometric Approach », HAL-SHS : économie et finance, ID : 10.1111/jmcb.12675
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Résumé
Price reviews are a potentially costly activity. A significant fraction of unchanged prices may stem from firms not reviewing prices, rather than from obstacles to changing prices per se, such as menu costs. In this paper, we disentangle these two causes of price stickiness by estimating an inflated ordered probit model on a panel of French manufacturing firms. The results point to a low frequency of price reviews, suggestive of the relevance of information costs as a determinant of the observed price stickiness. In view of the “inattentive producers” literature, pointing that the source of price rigidity matters, this is suggestive of a large real effect of monetary policy.