2024-03-29T01:01:18Zhttps://repositorio.bde.es/oai/requestoai:repositorio.bde.es:123456789/68852023-11-30T09:22:40Zcom_123456789_5661com_123456789_21col_123456789_5691
Repositorio Institucional
author
Álvarez, Luis J.
author
Hernando, Ignacio
2019-08-10T17:47:49Z
2019-08-10T17:47:49Z
2006-10-30
ISSN: 0213-2710 (en papel)
https://repositorio.bde.es/handle/123456789/6885
000188784
DTRA-200629-eng
This paper explores the role of a number of factors in explaining the heterogeneity in the degree of price stickiness across industries, on the basis of the information provided by surveys on pricing behavior conducted in nine euro area countries. The main focus is placed on the influence of competition on the degree of price flexibility. Our results suggest that the price setting strategies of the most competitive firms give them a greater capacity to react to shocks and make, in practice, for greater flexibility in their prices. The direct influence of market competition on price flexibility is corroborated by a cross-country cross-industry econometric analysis based on the information provided by surveys. This analysis also shows that the cost structure and demand conditions help to explain the degree of price flexibility. Finally, it suggests that countries in which product market regulation is more relevant are characterized by less price flexibility. [resumen de autor]
eng
Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0)
Price setting
Competition
Survey data
Competition and price adjustment in the euro area
Documento de trabajo
URL
https://repositorio.bde.es/bitstream/123456789/6885/1/dt0629e.pdf
File
MD5
f1dc080cc581353e2c5df264e819c550
937929
application/pdf
dt0629e.pdf
URL
https://repositorio.bde.es/bitstream/123456789/6885/2/dt0629e.pdf.txt
File
MD5
e0a7883b39d17a30aa9991bec09ac034
55740
text/plain
dt0629e.pdf.txt