Synchronisation in multi-product firms: evidence from german grocery prices
AbstractUsing a unique panel data set for German grocery prices we find significant price synchronization within food retail chains as well as within individual food stores (between products). Price synchronization between chains appears to be less pronounced. Common shocks can only explain some synchronization, indicating that strategic motives as well as menu costs are of significant importance.
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Bibliographic InfoPaper provided by Vienna University of Economics and B.A. Research Group: Growth and Employment in Europe: Sustainability and Competitiveness in its series Working Papers with number geewp28.
Date of creation: Aug 2003
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staggering; synchronization; fixed-effects probit model;
Find related papers by JEL classification:
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
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- Loy, Jens-Peter & Weiss, Christoph R., 2004. "Synchronization due to common shocks? Evidence from German grocery prices," Economics Letters, Elsevier, vol. 85(1), pages 123-127, October.
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