| アイテムタイプ |
デフォルトアイテムタイプ（フル）その２(1) |
| 公開日 |
2017-05-20 |
| タイトル |
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タイトル |
Menu Costs and Price Change Distributions: Evidence from Japanese Scanner Data |
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言語 |
en |
| 作成者 |
Umeno Saito, Yukiko
渡辺, 努
|
| 寄与者 |
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寄与者タイプ |
Editor |
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姓名 |
日本経済の物価変動ダイナミクスの解明 = Understanding Inflation Dynamics of the Japanese Economy |
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言語 |
en |
| アクセス権 |
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アクセス権 |
open access |
|
アクセス権URI |
http://purl.org/coar/access_right/c_abf2 |
| 主題 |
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|
主題Scheme |
Other |
|
主題 |
Menu costs |
| 主題 |
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主題Scheme |
Other |
|
主題 |
Price rigidity |
| 主題 |
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|
主題Scheme |
Other |
|
主題 |
Price change distributions |
| 主題 |
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|
主題Scheme |
Other |
|
主題 |
Price duration |
| 内容記述 |
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内容記述タイプ |
Other |
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内容記述 |
First Draft: June 14, 2007; Current Draft: November 21, 2007 |
|
言語 |
en |
| 内容記述 |
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内容記述タイプ |
Abstract |
|
内容記述 |
This paper investigates implications of the menu cost hypothesis about the distribution of price changes using daily scanner data covering all products sold at about 200 Japanese supermarkets in 1988 to 2005. First, we find that small price changes are indeed rare. The price change distribution for products with sticky prices has a dent at the vicinity of zero inflation, while no such dent is observed for products with flexible prices. Second, we find that the longer the time that has passed since the last price change, the higher is the probability that a large price change occurs. Combined with the fact that the price change probability is a decreasing function of price duration, this means that although the price change probability decreases as price duration increases, once a price adjustment occurs, the magnitude of such an adjustment is large. Third, while the price change distribution is symmetric on a short time scale, it is asymmetric on a long time scale, with the probability of a price decrease being significantly larger than the probability of a price increase. This asymmetry seems to be related to the deflation that the Japanese economy has experienced over the last five years. |
| 出版者 |
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出版者 |
Research Center for Price Dynamics, Institute of Economic Research, Hitotsubashi University |
| 日付 |
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|
日付 |
2007-11-26 |
|
日付タイプ |
Issued |
| 言語 |
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言語 |
eng |
| 資源タイプ |
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|
資源タイプ識別子 |
http://purl.org/coar/resource_type/c_18gh |
|
資源タイプ |
technical report |
| 出版タイプ |
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出版タイプ |
VoR |
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出版タイプResource |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| 関連情報 |
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関連タイプ |
isPartOf |
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関連名称 |
Working Paper Series ; No. 17 |
| 関連情報 |
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|
識別子タイプ |
URI |
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|
関連識別子 |
http://www.ier.hit-u.ac.jp/~ifd/ |
| ページ数 |
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ページ数 |
43 |
| Sponsorship |
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|
値 |
日本学術振興会・科学研究費補助金（学術創成研究費） = JSPS Grant-in-Aid for Creative Scientific Research |
| JEL |
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|
値 |
E30 |
IFD_WP17.pdf (410403 bytes)
