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Intermittent Price Changes in Production Plants: Empirical Evidence Using Monthly Data
Nilsen, Øivind Anti; Vange, Magne - 2018
The price-setting behaviour of manufacturing plants is examined using a large panel of monthly surveyed plant- and product-specific prices. The sample shows a high frequency of zero changes, relatively small price changes, and a strong seasonal price-change pattern. The intermittent feature of...
Persistent link: https://www.econbiz.de/10011887405
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Forecasting Inflation with a Zero Lower Bound or Negative Interest Rates: Evidence from Point and Density Forecasts
Anderl, Christina; Caporale, Guglielmo Maria - 2022
This paper investigates the predictive power of the shadow rate for the inflation rate in countries with a zero lower … parameters we compare the out-of-sample forecasting performance of an inflation model including a shadow rate interaction term … inflation rate are evaluated. The models including the shadow rate interaction term are found to outperform the benchmark ones …
Persistent link: https://www.econbiz.de/10013266652
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The Macroeconomic Projections of the German Government: A Comparison to an Independent Forecasting Institution
Lehmann, Robert; Wolllmershäuser, Timo - 2019
This paper investigates the macroeconomic projections of the German government since the 1970s and compares it those of the Joint Economic Forecast, which is an in-dependent forecasting institution in Germany. Our results indicate that nominal GDP projections are upward biased for longer...
Persistent link: https://www.econbiz.de/10012018151
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Unemployment in the European Union: Institutions, prices, and growth
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2004
This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the interplay between these adjustment processes and the...
Persistent link: https://www.econbiz.de/10010276423
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The Macroeconomic Projections of the German Government : A Comparison to an Independent Forecasting Institution
Lehmann, Robert - 2019
This paper investigates the macroeconomic projections of the German government since the 1970s and compares it those of the Joint Economic Forecast, which is an in-dependent forecasting institution in Germany. Our results indicate that nominal GDP projections are upward biased for longer...
Persistent link: https://www.econbiz.de/10012892128
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Price Changes - Stickiness and Internal Coordination in Multiproduct Firms
Letterie, Wilko; Nilsen, Øivind Anti - 2016
We assess empirically the micro-foundations of producers’ sticky pricing behaviour. The intertemporal profit function considered accounts for various functional forms of menu costs. The focus is on the analysis of multiproduct plants, and the menu costs therefore also allow for economies of...
Persistent link: https://www.econbiz.de/10011431242
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Monetary Policy, Price Setting, and Credit Constraints
Balleer, Almut; Zorn, Peter - 2019
We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German producer price index. We find a strong degree of monetary non-neutrality. After expansionary monetary policy, the mass of additional price adjustments is economically small and...
Persistent link: https://www.econbiz.de/10012179777
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Endogenous Product Adjustment and Exchange Rate Pass-Through
Freitag, Andreas; Lein, Sarah M. - 2022
We document how product quality responds to exchange rate movements and quantify the extent to which these quality changes affect the aggregate pass-through into export prices. We analyze the substantial sudden appreciation of the Swiss franc post removal of the 1.20-CHF-per-euro lower bound in...
Persistent link: https://www.econbiz.de/10014290027
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State-Dependent or Time-Dependent Pricing? New Evidence from a Monthly Firm-Level Survey: 1980-2017
Dixon, Huw D.; Grimme, Christian - 2019
We take a monthly panel of German firms over the period 1980–2017 to examine the relative importance of time and state dependence in the decisions of firms to raise, lower or leave their price constant. In addition, we seek to estimate the relative importance of macroeconomic factors and...
Persistent link: https://www.econbiz.de/10012141043
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Promotion Ban and Heterogeneity in Retail Prices during the Great Lockdown
Hindriks, Jean; Madio, Leonardo; Serse, Valerio - 2021
heterogeneity in price response also suggests that the price increase was not driven by cost inflation. …
Persistent link: https://www.econbiz.de/10012582137