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 that covers the years 1998 to 2003. We strong find evidence of time- and statedependent 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
Publisher:	Frankfurt a. M. : European Central Bank (ECB)
Subject:	Verbraucherpreisindex \| Preisrigidität \| Preis \| Inflation \| Deutschland \| Flexibilität \| consumer price index \| Germany \| price flexibility \| price rigidity

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Series:	ECB Working Paper ; 652
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	51633803X [GVK] hdl:10419/153086 [Handle] RePEc:ecb:ecbwps:20060652 [RePEc]
Classification:	E31 - Price Level; Inflation; Deflation ; D43 - Oligopoly and Other Forms of Market Imperfection ; L11 - Production, Pricing, and Market Structure Size; Size Distribution of Firms
Source:	EconStor

Persistent link: https://www.econbiz.de/10011604698