COSTS, DEMAND, AND PRODUCER PRICE CHANGES

• 成果类型: Article
• 署名作者: Loupias, Claire; Sevestre, Patrick
• 署名单位: Universite Paris Saclay; European Central Bank; Bank of France; Paris School of Economics; heSam Universite; Universite Pantheon-Sorbonne
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00276
• 发表日期: 2013-03
• 页码: 315-327
• 关键词: inflation; sticky; adjustment; BEHAVIOR; Heterogeneity; insurance; DYNAMICS

摘要

Using business survey data, we estimate an ordered probit model to explain the occurrence of producer price increases and decreases in the French manufacturing industry. Our results show that changes in intermediate input prices are the main driver of producer price changes. Changes in firms' labor costs, their production level, or the producer price index of their industry contribute less to the occurrence of price changes. Moreover, when they face a change in their costs, firms adjust their prices upward more often and more rapidly than they do it downward, especially when the shock is perceived as permanent.