More Facts about Prices: France Before and During the Great Recession

Nicoletta Berardi, Erwan Gautier and Hervé Le Bihan

Journal of Money, Credit and Banking, 2015, vol. 47, issue 8, 1465-1502

Abstract: Using microprice data, we document new facts on price rigidity in France: (i) each month 20.1% of prices are changed, which compares to 24.1% in the United States—excluding sales, however, the fraction of prices modified each month is about the same in France and in the United States (around 17%); (ii) the distribution of price changes is quite dispersed; (iii) the frequencies of price increases and decreases contribute a lot to inflation variations, and price increases are more frequent in January (even when sales are excluded); (iv) sales contribute significantly to the volatility of inflation but play a minor role in the transmission of macroeconomic fluctuations to prices; and (v) during the Great Recession patterns of price adjustment were only slightly modified.

Date: 2015
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Citations: View citations in EconPapers (49)

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https://doi.org/10.1111/jmcb.12281

Related works:
Working Paper: More facts about prices: France before and during the Great Recession (2014)
Working Paper: More Facts about Prices: France Before and During the Great Recession (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:47:y:2015:i:8:p:1465-1502

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