Price-setting behaviour in New Zealand

Miles Parker

New Zealand Economic Papers, 2017, vol. 51, issue 3, 217-236

Abstract: New evidence from a large survey of over 5300 New Zealand firms provides insight into the causes and extent of price rigidity. There is a large degree of heterogeneity between, and within, sectors. The median number of price reviews is twice per year, but the median number of changes is just one. Multi-product firms reset prices more frequently, even accounting for other firm characteristics. Explicit and implicit contracts and strategic complementarity are the most widely recognised causes of price rigidity. Menu costs and sticky information are not widely recognised.

Date: 2017
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Working Paper: Price-setting behaviour in New Zealand (2014)
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DOI: 10.1080/00779954.2016.1189957

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