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Intermittent Price Changes in Production Plants: Empirical Evidence Using Monthly Data

Øivind Nilsen and Magne Vange

No 7145, CESifo Working Paper Series from CESifo

Abstract: The price-setting behaviour of manufacturing plants is examined using a large panel of monthly surveyed plant- and product-specific prices. The sample shows a high frequency of zero changes, relatively small price changes, and a strong seasonal price-change pattern. The intermittent feature of price changes is modelled with thresholds which are smaller in January, and a quadratic loss function associated with the distance from the target price. The findings show statistically significant pricing thresholds, which are only two-thirds in January, and partial adjustment parameters implying that 60% of the deviation between the target price and the current price is closed each month.

Keywords: price setting; micro data; simulated method of moments (search for similar items in EconPapers)
JEL-codes: E30 E31 E37 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Intermittent Price Changes in Production Plants: Empirical Evidence Using Monthly Data (2019) Downloads
Working Paper: Intermittent Price Changes in Production Plants: Empirical Evidence using Monthly Data (2016) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_7145

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