Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks

Detalhes bibliográficos
Autor(a) principal: Guimarães, Bernardo de Vasconcellos
Data de Publicação: 2015
Outros Autores: Mazini, André Chaves, Mendonça, Diogo de Prince
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/13569
Resumo: This paper proposes a test for distinguishing between time-dependent and state-dependent pricing based on whether the timing of pricing changes is affected by realized or expeted inflation. Using Brazilian data and exploring a large discrepancy between realized and expected inflation in 2002-3, we obtain a strong relation between expected inflation and duration of price spells, but little effect of inflation shocks on the frequency of price adjustment. The results thus support models with timedependent pricing, where the timing for following changes is optimally chosen whenever firms adjust prices
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spelling Guimarães, Bernardo de VasconcellosMazini, André ChavesMendonça, Diogo de PrinceEscolas::EESP2015-03-25T11:45:44Z2015-03-25T11:45:44Z2015-03-25TD 383http://hdl.handle.net/10438/13569This paper proposes a test for distinguishing between time-dependent and state-dependent pricing based on whether the timing of pricing changes is affected by realized or expeted inflation. Using Brazilian data and exploring a large discrepancy between realized and expected inflation in 2002-3, we obtain a strong relation between expected inflation and duration of price spells, but little effect of inflation shocks on the frequency of price adjustment. The results thus support models with timedependent pricing, where the timing for following changes is optimally chosen whenever firms adjust pricesengEESP- Textos para Discussão;TD 383State-dependent pricingTime-dependent pricingExpected inflationInflation shocksEconomiaInflaçãoTime-dependent or state-dependent pricing? 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dc.title.eng.fl_str_mv Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks
title Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks
spellingShingle Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks
Guimarães, Bernardo de Vasconcellos
State-dependent pricing
Time-dependent pricing
Expected inflation
Inflation shocks
Economia
Inflação
title_short Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks
title_full Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks
title_fullStr Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks
title_full_unstemmed Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks
title_sort Time-dependent or state-dependent pricing? Evidence from firms’ response to inflation shocks
author Guimarães, Bernardo de Vasconcellos
author_facet Guimarães, Bernardo de Vasconcellos
Mazini, André Chaves
Mendonça, Diogo de Prince
author_role author
author2 Mazini, André Chaves
Mendonça, Diogo de Prince
author2_role author
author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EESP
dc.contributor.author.fl_str_mv Guimarães, Bernardo de Vasconcellos
Mazini, André Chaves
Mendonça, Diogo de Prince
dc.subject.eng.fl_str_mv State-dependent pricing
Time-dependent pricing
topic State-dependent pricing
Time-dependent pricing
Expected inflation
Inflation shocks
Economia
Inflação
dc.subject.por.fl_str_mv Expected inflation
Inflation shocks
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Inflação
description This paper proposes a test for distinguishing between time-dependent and state-dependent pricing based on whether the timing of pricing changes is affected by realized or expeted inflation. Using Brazilian data and exploring a large discrepancy between realized and expected inflation in 2002-3, we obtain a strong relation between expected inflation and duration of price spells, but little effect of inflation shocks on the frequency of price adjustment. The results thus support models with timedependent pricing, where the timing for following changes is optimally chosen whenever firms adjust prices
publishDate 2015
dc.date.accessioned.fl_str_mv 2015-03-25T11:45:44Z
dc.date.available.fl_str_mv 2015-03-25T11:45:44Z
dc.date.issued.fl_str_mv 2015-03-25
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/13569
dc.identifier.sici.none.fl_str_mv TD 383
identifier_str_mv TD 383
url http://hdl.handle.net/10438/13569
dc.language.iso.fl_str_mv eng
language eng
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