Arbeitspapier
Price setting in the euro area: some stylised facts from individual producer price data
This paper documents producer price setting in 6 countries of the euro area: Germany, France, Italy, Spain, Belgium and Portugal. It collects evidence from available studies on each of those countries and also provides new evidence. These studies use monthly producer price data. The following five stylised facts emerge consistently across countries. First, producer prices change infrequently : each month around 21% of prices change. Second, there is substantial cross-sector heterogeneity in the frequency of price changes: prices change very often in the energy sector, less often in food and intermediate goods and least often in nondurable non- food and durable goods. Third, countries have a similar ranking of industries in terms of frequency of price changes. Fourth, there is no evidence of downward nominal rigidity: price changes are for about 45% decreases and 55% increases. Fifth, price changes are sizeable compared to the inflation rate. The paper also examines the factors driving producer price changes. It finds that costs structure, competition, seasonality, inflation and attractive pricing all play a role in driving producer price changes. In addition producer prices tend to be more flexible than consumer prices.
- Language
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Englisch
- Bibliographic citation
-
Series: Discussion Paper Series 1 ; No. 2007,03
- Classification
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Wirtschaft
Price Level; Inflation; Deflation
Market Structure, Pricing, and Design: General
Single Equation Models; Single Variables: Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
- Subject
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Price-setting
producer prices
Betriebliche Preispolitik
Verarbeitendes Gewerbe
Industriepreisindex
Preisrigidität
Schätzung
Deutschland
Frankreich
Italien
Belgien
Portugal
- Event
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Geistige Schöpfung
- (who)
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Vermeulen, Philip
Gautier, Erwan
Stahl, Harald
Dossche, Maarten
Sabbatini, Roberto
Dias, Daniel
Hernando, Ignacio
- Event
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Veröffentlichung
- (who)
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Deutsche Bundesbank
- (where)
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Frankfurt a. M.
- (when)
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2007
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Vermeulen, Philip
- Gautier, Erwan
- Stahl, Harald
- Dossche, Maarten
- Sabbatini, Roberto
- Dias, Daniel
- Hernando, Ignacio
- Deutsche Bundesbank
Time of origin
- 2007
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How rigid are producer prices?
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