Consumer price adjustment under the microscope: Germany in a period of low inflation

We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index that covers the years 1998 to 2003. We strong find evidence of time- and statedependent price adjustment. Most importantly, the differences in “unconditional” sectoral price flexibility are found to be linked to input price volatility. JEL Classification: E31, D43, L11

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Year of publication:	2006-07
Authors:	Hoffmann, Johannes ; Kurz-Kim, Jeong-Ryeol
Institutions:	European Central Bank
Subject:	consumer price index \| Germany \| price flexibility \| price rigidity

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Extent:	application/pdf
Series:	Working Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 0652
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005530701