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inflation, in which only the intensive margin (the size of price increases) adjusts in response to changes in demand and supply … commodity categories, strongly suggests that price increases (inflation) are influenced not only by aggregate trends but also by …The failure to predict the surge in inflation in 2021 raises questions about whether we are better equipped to …
Persistent link: https://www.econbiz.de/10014465012
2010-2019, we document new findings on consumer price rigidity in the euro area: (i) each month on average 12.3% of prices … change, which compares with 19.3% in the United States; when we exclude price changes due to sales, however, the proportion … of prices adjusted each month is 8.5% in the euro area versus 10% in the United States; (ii) differences in price …
Persistent link: https://www.econbiz.de/10013361901
Persistent link: https://www.econbiz.de/10000919288
Persistent link: https://www.econbiz.de/10011438233
systematically understated. The effect rests on overstated inflation estimates due to imputed prices for disappearing goods and … appear most affected, and that the effect in East Germany is somewhat larger. We investigate different market share proxies …
Persistent link: https://www.econbiz.de/10012440399
Current HICP measurement practices produce an upward bias of about one-ninth of a percentage point in German inflation … consider this source of mismeasurement when assessing the precision of the HICP as a measure of "true" inflation. …
Persistent link: https://www.econbiz.de/10012489562
demonstrate that these scanner-based price indices improve inflation nowcasts at this very narrow level, notably already after the … techniques can help to improve the nowcast of monthly German inflation in real time. Our nowcasting exercise targets three … hierarchy levels of the official consumer price index. First, we construct a large set of weekly scanner-based price indices at …
Persistent link: https://www.econbiz.de/10014467924
1994 are used to construct price indices for personal computers in Germany. The use of hedonic methods allows to correct … indices that correctly reflect the true price movements of IT products. This paper assesses the differences between … traditional and quality adjusted indices by providing results for PC hardware. Transaction price data for the period from 1985 to …
Persistent link: https://www.econbiz.de/10013428404
Persistent link: https://www.econbiz.de/10013428518
information about supply cuts for identification and find that gas supply and demand shocks have large and persistent price … effects, while output effects are rather moderate. The 2022 natural gas price spike was driven by adverse flow supply shocks … and positive storage demand shocks, as Germany filled its inventories before the winter. Counterfactual simulations of an …
Persistent link: https://www.econbiz.de/10014560154