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000270246 005__ 20180329232749.0
000270246 037__ $$a2068-2018-1916
000270246 041__ $$aeng
000270246 084__ $$aE30
000270246 084__ $$aE31
000270246 084__ $$aL81
000270246 260__ $$c2014
000270246 269__ $$a2014-02-02
000270246 300__ $$a69
000270246 336__ $$aWorking or Discussion Paper
000270246 490__ $$aWERP 1041
000270246 520__ $$aThis paper delivers a significantly different empirical perspective on micro pricing behaviour and its impact on macroeconomic processes than previous studies, largely resulting from the fact that our weekly price data for the three major British supermarkets spans a seven year period including the crisis years 2008-2010. We find that there is a large and significant change in the behaviour of prices from 2008 onwards: prices change more frequently and the average duration of price spells declines significantly. Several of our findings run strongly counter to established empirical regularities, in particular the high overall frequency of regular or reference price changes we uncover, the greater intensity of change in more turbulent times and the numerical dominance of price falls over rises. The pricing behaviour revealed also significantly challenges the implicit assumption that prices are tracking cost changes.
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000270246 546__ $$aEnglish
000270246 650__ $$aFinancial Economics
000270246 6531_ $$aMicro pricing
000270246 6531_ $$aprice flexibility
000270246 6531_ $$aregular prices
000270246 6531_ $$amenu costs
000270246 700__ $$aDixon, Huw
000270246 700__ $$aSeaton, Johathan S.
000270246 700__ $$aWaterson, Michael
000270246 8560_ $$fsheeh247@umn.edu
000270246 8564_ $$s1168371$$uhttp://ageconsearch.umn.edu/record/270246/files/twerp_1041_waterson.pdf
000270246 8564_ $$s2209181$$uhttp://ageconsearch.umn.edu/record/270246/files/twerp_1041_waterson.pdf?subformat=pdfa$$xpdfa
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000270246 980__ $$a2068