Apel, Mikael () (National Institute for Economic Research) Friberg, Richard () (Department of Economics) Hallsten, Kerstin () (Monetary Policy Department, Central Bank of Sweden)
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This paper reports the results from a survey on price-setting behavior of a large random sample of Swedish firms. Prices are found to adjust only infrequently; the median firm adjusts the price once a year. State-dependent pricing is found to be more common than is usually assumed and at least as important as time-dependent pricing. The paper sums up the evidence from this and two similar large-scale surveys on UK and US data. Notably, and suggesting directions for further research, four of the theories of price rigidity are ranked by the respondents among the top-five places in all three studies.
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Paper provided by Sveriges Riksbank (Central Bank of Sweden) in its series Working Paper Series with number
128.
Length: 40 pages Date of creation: 01 Dec 2001 Date of revision: Publication status: Published in Journal of Money, Credit and Banking, 2005, pages 313-338. Handle: RePEc:hhs:rbnkwp:0128
Find related papers by JEL classification: D40 - Microeconomics - - Market Structure and Pricing - - - General E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data) L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
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