The impact of the 2008 crisis on UK prices: what we can learn from the CPI microdata

Huw Dixon, Kul Luintel () and Kun Tian

No E2014/7, Cardiff Economics Working Papers from Cardiff University, Cardiff Business School, Economics Section

Abstract: This paper takes the locally collected price-quotes used to construct the CPI index in the UK for the period 1996-2013 to explore the impact of the crisis on the pricing behavior of firms. We develop a time-series framework which is able to capture the link between macro- economic variables (in?ation and output) and the behavior of prices in terms of the frequency of price change, the dispersion of price levels and the dispersion of price-growth. Whilst these effects are present, they are small and do not have significant effects for monetary policy.

Keywords: Price-spell; steady state; duration (search for similar items in EconPapers)
JEL-codes: E50 (search for similar items in EconPapers)
Pages: 76 pages
Date: 2014-06
New Economics Papers: this item is included in nep-mac and nep-mon
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Citations: View citations in EconPapers (6)

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Related works:
Journal Article: The Impact of the 2008 Crisis on UK Prices: What We Can Learn from the CPI Microdata (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:cdf:wpaper:2014/7

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