Stylised features of price setting behaviour in Portugal: 1992-2001

Monica Costa Dias, Daniel Dias and Pedro Neves

No 332, Working Paper Series from European Central Bank

Abstract: This paper identifies the empirical stylized features of price setting behaviour in Portugal using the micro-datasets underlying the consumer and the producer price indexes. The main conclusions are the following: 1 in every 4 prices change each month; there is a considerable degree of heterogeneity in price setting practices; consumer prices of goods change more often than consumer prices of services; producer prices of consumption goods vary more often than producer prices of intermediate goods; for comparable commodities, consumer prices change more often than producer prices; price reductions are common, as they account for around 40 per cent of total price changes; price changes are, in general, sizable; finally, the price setting patterns at the consumer level seem to depend on the level of inflation as well as on the type of outlet. JEL Classification: E31, E32, L11

Keywords: consumer prices; frequency of price changes; price setting; producer prices (search for similar items in EconPapers)
Date: 2004-04
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Citations: View citations in EconPapers (62)

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Working Paper: Stylised Features of Price Setting Behaviour in Portugal: 1992-2001 (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:2004332

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