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Synchronisation in multi-product firms: evidence from german grocery prices

Author

Listed:
  • Jens-Peter Loy

    (Georg-August-University Goettingen)

  • Christoph R. Weiss

    (Vienna University of Economics & B.A.)

Abstract

Using 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.

Suggested Citation

  • Jens-Peter Loy & Christoph R. Weiss, 2003. "Synchronisation in multi-product firms: evidence from german grocery prices," Working Papers geewp28, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
    • Handle: RePEc:wiw:wiwgee:geewp28
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    Cited by:

    1. 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.

    More about this item

    Keywords

    staggering; synchronization; fixed-effects probit model;
    All these keywords.

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure

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