Price Setting in Retailing: the Case of Uruguay

Fernando Borraz and Leandro Zipitria

No 2011001, Documentos de trabajo from Banco Central del Uruguay

Abstract: We analyze the behavior of prices in Uruguay using a unique database of 30 millions daily prices. We find that prices change about 5 times a year with no seasonal patter. Prices changes are highly synchronized and concentrated on the first day of the month. Our paper is the first to present evidence of high synchronization of prices, which in turn could be explained mainly by the data periodicity. Overall the analysis seems to be consistent with state-dependent pricing models, although we found some interesting features of prices that could not be explained by these models.

Keywords: retail; micro data; prices; price volatility; sticky prices; rigideces de precios; datos micro; comercios minoristas (search for similar items in EconPapers)
JEL-codes: D40 E31 L16 L81 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2011
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https://www.bcu.gub.uy/Estadisticas-e-Indicadores/ ... 20Trabajo/1.2011.pdf First version, 2011 (application/pdf)

Related works:
Chapter: Price Setting in Retailing: the Case of Uruguay (2013)
Journal Article: Retail Price Setting in Uruguay (2012)
Working Paper: Price Setting in Retailing: the Case of Uruguay (2011)
Working Paper: Price Setting in Retailing: the Case of Uruguay (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:bku:doctra:2011001

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