Price Rigidity in Turkey: Evidence from Micro Data
| Autor: | Orhun Sevinc, M. Utku Ozmen |
|---|---|
| Rok vydání: | 2015 |
| Předmět: |
Macroeconomics
Wholesale price index Producer price index 050208 finance jel:C41 jel:D40 jel:E50 05 social sciences Mid price HC Economic History and Conditions Price elasticity of supply jel:E31 Relative price Price controls 0502 economics and business Econometrics Economics Consumer prices price spell duration price rigidity distribution of price changes state and time dependent pricing Price level 050207 economics General Economics Econometrics and Finance Finance Limit price |
| Zdroj: | Emerging Markets Finance and Trade. 52:1029-1045 |
| ISSN: | 1558-0938 1540-496X |
| DOI: | 10.1080/1540496x.2015.1047304 |
| Popis: | In this study we investigate the duration of consumer price spells and the price change patterns for Turkey. The study employs the most comprehensive unofficial micro price data so far for Turkey covering around 6000 items over four years which comprises a major part of the Consumer Price Index (CPI). In detail, we analyze how long a typical price spell lasts, the average size of price changes, the relationship between price change size and spell duration, distribution of price changes and synchronization of prices. Compared to advanced economies, we estimate a high frequency of consumer price changes in Turkey. Findings suggest substantial heterogeneity among sub-groups and underline the time-varying nature of frequency and synchronization indicators. The study confirms that the empirical regularity of mixed evidence of both state and time-dependent pricing generally cited for developed economies also holds for an emerging market economy, Turkey. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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