Price adjusment in Costa Rica: A first assessment using micro-data
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| Auteur: | |
|---|---|
| Format: | artículo original |
| Date de publication: | 2014 |
| Description: | his article explores the pricing adjustment process in Costa Rica, taking a deeper look into the micro-data that make up the Consumer Price Index for the period 2006-2013. The basic question asks if this process resembles time-dependent picing models, or if it resembles more a state-dependent process. his is done analysing a series of random effects regressions to explore the relations between inflation rate, frequency of pricing adjustments and their average magnitude. he main conclusions are that 1) there is considerable heterogeneity between product categories, 2) price decreases follow a very stable pattern that does not depend on the overall inflation rate, 3) the average size of the price increases is influenced by a very small magnitude by the inflation rate, 4) the proportion of prices increasing each month is strongly positively correlated with the inflation rate, and 5) state-dependent specifications fit better these facts. |
| Pays: | Kérwá |
| Institution: | Universidad de Costa Rica |
| Repositorio: | Kérwá |
| Langue: | Inglés |
| OAI Identifier: | oai:kerwa.ucr.ac.cr:10669/100569 |
| Accès en ligne: | https://hdl.handle.net/10669/100569 https://doi.org/10.15517/rce.v32i2.17260 |
| Mots-clés: | inflation macroeconomics economic cycle monetary policy Consumer Price Index (CPI) price rigidity inflación macroeconomía ciclo económico política monetaria rigidez de precios |