The Price-Setting Behavior of Austrian Firms: Some Survey Evidence
Josef Baumgartner (),
Claudia Kwapil () and
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Claudia Kwapil: Oesterreichische Nationalbank, Economic Analysis Division
Working Papers from Oesterreichische Nationalbank (Austrian Central Bank)
This paper explores the price-setting behavior of Austrian firms based on survey evidence. Our main result is that customer relationships are a major source of price stickiness in the Austrian economy. We also find that the majority of firms in our sample follows a timedependent pricing strategy. However, a substantial fraction of firms deviates from time-dependent pricing in the case of large shocks and switches to a state-dependent pricing strategy. In addition, we present evidence suggesting that the price response to various shocks is subject to asymmetries.
Keywords: Price-setting behavior; Price rigidity (search for similar items in EconPapers)
JEL-codes: C25 E30 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec, nep-ind, nep-mac and nep-mkt
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Working Paper: The price-setting behavior of Austrian firms: some survey evidence (2005)
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