Comparison of pricing behaviour of firms in the euro area and Estonia

Aurelijus Dabušinskas () and Martti Randveer ()

No 2006-08, Bank of Estonia Working Papers from Bank of Estonia

Abstract: In this paper, we review the price setting survey of Estonian firms and compare our findings with the results of similar research in the euro area summarized by Fabiani et al. (2005). Generally, the price setting patterns that emerge from our survey are quite similar to those in the euro zone. There is some evidence, however, that price setting may be somewhat more flexible in Estonia. The findings that suggest more price flexibility in Estonia are as follows: the incidence of time-dependent pricing is lower, the share of firms that are price takers is larger, price changes are more frequent, and, finally, the speed of price adjustments to shocks is higher

Keywords: price setting; nominal rigity; inflation persistence; price survey (search for similar items in EconPapers)
JEL-codes: E30 D40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-eec and nep-mac
Date: 2006-12-10, Revised 2006-12-10
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