3 Lessons from Hyperinflationary Periods

Mark Bergen, Thomas Bergen (), Daniel Levy () and Rose Semenov ()
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Mark Bergen: UMN - University of Minnesota [Twin Cities] - UMN - University of Minnesota System
Thomas Bergen: University of Minnesota
Rose Semenov: UMN - University of Minnesota [Twin Cities] - UMN - University of Minnesota System

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Abstract: Inflation is painful, for firms, customers, employees, and society. But careful study of periods of hyperinflation point to ways that firms can adapt. In particular, companies need to think about how to change prices regularly and cheaplybecause constant price changes can ultimately be very, very expensive. And they should consider how to communicate those price changes to customers. Providing clarity and predictability can increase consumer trust and help firms in the long run.

Keywords: Inflation Rate; Hyperinflation; Pricing; Price Setting; Price Adjustment; Menu Cost; Cost of Price Adjustment; Implicit Contract; Long-Term Relationship (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-mon
Note: View the original document on HAL open archive server: https://hal.science/hal-03881383
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Published in Harvard Business Review, inPress

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Related works:
Journal Article: 3 Lessons from Hyperinflationary Periods (2022)
Working Paper: 3 Lessons from Hyperinflationary Periods (2022)
Working Paper: 3 Lessons from Hyperinflationary Periods (2022)
Working Paper: 3 Lessons from hyperinflationary periods (2022)
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