This paper presents original evidence on price setting in the euro area at the individual level. We use micro data on … sticky and more so than in the US; (ii) there is evidence of heterogeneity and of asymmetries in price setting behaviour …; (iii) downward price rigidity is only slightly more marked than upward price rigidity and (iv) implicit or explicit …

to deepen the understanding of firms' price setting behaviour. The main findings may be summarised as follows. Most … Spanish firms are price setters that use predominantly state dependent rules or a combination of time and state dependent … rules when reviewing their prices. Changes in costs are the main factor underlying price increases, whereas changes in …

Using information on individual products obtained from the Food Consumption Panel, quality-adjusted price indices have …

of empirical research has documented price-setting behaviour at the individual level, allowing the assessment of the … micro-foundations of pricing models. This paper analyses the implications of 25 theoretical models in terms of individual … available to account for all of them, suggesting the need to develop more realistic micro-founded price setting models. …

attractive pricing all play a role in driving producer price changes. In addition producer prices tend to be more flexible than …This paper documents producer price setting in 6 countries of the euro area: Germany, France, Italy, Spain, Belgium and … use monthly producer price data. The following five stylised facts emerge consistently across countries. First, producer …

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 …

denominated prices. The changeover should have been neutral with respect to price levels, although some factors, such as menu …

This paper identifies the basic features of the price setting mechanism in the Spanish economy, using a large dataset … that contains over 1.1 million price records and covers around 70% of the expenditure on the CPI basket. In particular, the … paper identifies differences in the frequency and size of price adjustments across types of products and explores how these …

This paper identifies the basic features of price setting behaviour at the producer level in the Spanish economy using … comparison of price setting practices at the producer and at the consumer level to ascertain whether the retail sector augments … or mitigates price stickiness. We find that prices do not change often but do so by a large amount. The cost structure …

This paper documents patterns of price setting at the retail level in the euro area. A set of stylized facts on the … frequency and size of price changes is presented along with an econometric investigation of their main determinants. Price … monthly frequency of price adjustment is 15 p.c., compared to about 25 p.c. in the US. Second, the frequency of price changes …