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Price Rigidity in Turkey: Evidence from Micro Data

Author

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  • M. Utku Özmen
  • Orhun Sevinç

Abstract

In this study we investigate the duration of consumer price spells and price change patterns for Turkey by employing a comprehensive micro price data covering around 6,000 items over four years. In detail, we analyze how long typical price spell lasts and we investigate the size, frequency, distribution and synchronization of price changes. Compared to advanced economies, a higher frequency of price changes is estimated. Findings suggest substantial heterogeneity among sub-groups in terms of frequency and synchronization indicators. The mixed evidence of both state and time-dependent pricing is also relevant for Turkey, an emerging market economy.

Suggested Citation

  • M. Utku Özmen & Orhun Sevinç, 2016. "Price Rigidity in Turkey: Evidence from Micro Data," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(4), pages 1029-1045, April.
    • Handle: RePEc:mes:emfitr:v:52:y:2016:i:4:p:1029-1045
    DOI: 10.1080/1540496X.2015.1047304
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    Citations

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    Cited by:

    1. Oguz Atuk & Cem Aysoy & Mustafa Utku Ozmen & Cagri Sarikaya, 2014. "Turkiye�de Enflasyonun Is Cevrimlerine Duyarliligi : Cikti Acigina Duyarli TUFE Alt Gruplarinin Saptanmasi," Working Papers 1437, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    2. Utku Özmen, Mustafa & Akçelik, Fatih, 2017. "Asymmetric exchange rate and oil price pass-through in motor fuel market: A microeconometric approach," The Journal of Economic Asymmetries, Elsevier, vol. 15(C), pages 64-75.
    3. Orhun Sevinc, 2012. "Enflasyon Ana Egiliminin Temel Bilesenler Analiziyle Incelenmesi," CBT Research Notes in Economics 1208, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    4. M. Utku Ozmen & Orhun Sevinc, 2012. "Mikro Verilerinden Yuksek Frekansli Fiyat Katiligi ve Enflasyon Egilimi Gostergeleri," CBT Research Notes in Economics 1217, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    5. Joseph, Andreas & Potjagailo, Galina & Chakraborty, Chiranjit & Kapetanios, George, 2024. "Forecasting UK inflation bottom up," International Journal of Forecasting, Elsevier, vol. 40(4), pages 1521-1538.
    6. repec:prg:jnlpep:v:preprint:id:677:p:1-16 is not listed on IDEAS
    7. Mustafa Utku Özmen, 2020. "In Pursuit Of Understanding Markups In Restaurant Services Prices," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(06), pages 1423-1437, December.
    8. Yılmaz, Yusuf Ömür & Çiçekçi, Cumhur, 2024. "Misspecified expectations in an open economy," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 65-85.
    9. Oguz Atuk & Mustafa Utku Özmen & Cagri Sarikaya, 2018. "A Disaggregated Analysis of the Impact of Output Gap on Inflation and Implications for Monetary Policy," Prague Economic Papers, Prague University of Economics and Business, vol. 2018(6), pages 668-683.
    10. M. Utku Ozmen & Orhun Sevinc, 2012. "Fiyat Degisimlerinin Yapisi ve Enflasyon," CBT Research Notes in Economics 1205, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    11. Oguz Atuk & M. Utku Ozmen & Orhun Sevinc, 2012. "Mevsimlik Urunler ve Fiyat Oynakligi : Guclu Mevsimsellik ve Ongorulemeyen Oynaklik," CBT Research Notes in Economics 1216, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    12. Yilmazkuday, Hakan, 2022. "Unequal Exchange Rate Pass-Through Across Income Groups," Macroeconomic Dynamics, Cambridge University Press, vol. 26(3), pages 682-725, April.

    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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