Price adjustments and inflation - evidence from Norwegian consumer price data 1975-2004
AbstractI document price adjustments in both high and low inflation years from 14 milllion monthly price observations of 1,133 goods and services. The variation in the frequency of price changes explains all the variation in the inflation rate. On average, prices increase more often when inflation is high, and decrease more often when inflation is low. There is also substantial variation both in the duration and size of price changes within and between items.
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Bibliographic InfoPaper provided by Norges Bank in its series Working Paper with number 2009/11.
Length: 36 pages
Date of creation: 24 Jun 2009
Date of revision:
Consumer prices; price rigidity;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-07-03 (All new papers)
- NEP-CBA-2009-07-03 (Central Banking)
- NEP-MAC-2009-07-03 (Macroeconomics)
- NEP-MON-2009-07-03 (Monetary Economics)
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