Price adjustment in German manufacturing: evidence from two merged surveys

Harald Stahl

Managerial and Decision Economics, 2010, vol. 31, issue 2-3, 67-92

Abstract: This paper presents new evidence on the formation of producer prices. The database combines a one-time survey that was conducted in June 2004 on a sample of 1200 firms in manufacturing and time series information on price adjustment of the same firms. Twenty percent of firms set prices as time-dependent but neither Taylor nor Calvo-type price setting describes them aptly. Few firms are forward-looking. According to the one-time survey, fixed contracts and coordination failure are the main reason for postponing price adjustment. However, the hazard rates for price changes from the time series information do not support this. Copyright © 2009 John Wiley & Sons, Ltd.

Date: 2010
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Working Paper: Price adjustment in German manufacturing: evidence from two merged survey (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:31:y:2010:i:2-3:p:67-92

DOI: 10.1002/mde.1485

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