Consumer price adjustment under the microscope: Germany in a period of low inflation

We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index which covers the years 1998 to 2003. We strong find evidence of time- and state-dependent price adjustment. Most importantly, the differences in ?unconditional? sectoral price flexibility are found to be linked to input price volatility.

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Year of publication:	2006
Authors:	Hoffmann, Johannes ; Kurz-Kim, Jeong-Ryeol
Institutions:	Deutsche Bundesbank
Subject:	price rigidity \| price flexibility \| Consumer Price Index \| Germany

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Extent:	application/pdf
Series:	Discussion Paper Series 1: Economic Studies.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2006,16
Classification:	D43 - Oligopoly and Other Forms of Market Imperfection ; E31 - Price Level; Inflation; Deflation ; L11 - Production, Pricing, and Market Structure Size; Size Distribution of Firms
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005083071