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Price-Setting in Ukraine: Evidence from Online Prices

Author

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  • Anastasiia Antonova

    (National Bank of Ukraine
    Aix-Marseille School of Economics)

Abstract

This study examines price duration and price-setting mechanisms in Ukraine using web-scraped prices. I found that the mean average duration of prices is about 2 months. Average price duration is lower for those products that are more exposed to temporary price changes (sales). Moreover, imported goods have a higher average price duration compared to domestic goods. In terms of the price-setting mechanism, the data supports timedependent price setting behavior over state-dependent. The evidence of time-dependent price setting is 1) the size of price change being positively related to the age of price; 2) many price changes of a size close to zero; and 3) the hazard function being non-increasing for the whole sample and tends to be flatter within relatively homogeneous groups of products..

Suggested Citation

  • Anastasiia Antonova, 2019. "Price-Setting in Ukraine: Evidence from Online Prices," Visnyk of the National Bank of Ukraine, National Bank of Ukraine, issue 248, pages 4-10.
  • Handle: RePEc:ukb:journl:y:2019:i:248:p:4-10
    DOI: 10.26531/vnbu2019.248.01
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    File URL: https://journal.bank.gov.ua/en/article/2019/248/01
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    Cited by:

    1. Anton Grui & Nicolas Aragon & Oleksandr Faryna & Dmytro Krukovets & Kateryna Savolchuk & Oleksii Sulimenko & Artem Vdovychenko & Oleksandr Zholud, 2023. "Between russian Invasions: The Monetary Policy Transmission Mechanism in Ukraine in 2015-2021," Working Papers 02/2023, National Bank of Ukraine.

    More about this item

    Keywords

    online prices; sticky prices; price duration; price-setting scheme;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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