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Micro and Macro Price Dynamics over Twenty Years in Japan: A Large Scale Study Using Daily Scanner Data
http://hdl.handle.net/10086/15141
http://hdl.handle.net/10086/1514109fc2a95-bd0f-4ed7-bfc6-4c165b875194
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
IFD_WP18.pdf (1790166 bytes)
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| 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) | |||||||||||||||
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| 公開日 | 2017-05-20 | |||||||||||||||
| タイトル | ||||||||||||||||
| タイトル | Micro and Macro Price Dynamics over Twenty Years in Japan: A Large Scale Study Using Daily Scanner Data | |||||||||||||||
| 言語 | en | |||||||||||||||
| 作成者 |
阿部, 修人
× 阿部, 修人
NRID
1000030323893
× 外木, 暁幸
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| 寄与者 | ||||||||||||||||
| 寄与者タイプ | Editor | |||||||||||||||
| 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 | |||||||||||||||
| 言語 | en | |||||||||||||||
| アクセス権 | ||||||||||||||||
| アクセス権 | open access | |||||||||||||||
| アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||||||||||||
| 主題 | ||||||||||||||||
| 主題Scheme | Other | |||||||||||||||
| 主題 | Pricing | |||||||||||||||
| 主題 | ||||||||||||||||
| 主題Scheme | Other | |||||||||||||||
| 主題 | Scanner Data | |||||||||||||||
| 主題 | ||||||||||||||||
| 主題Scheme | Other | |||||||||||||||
| 主題 | CPI | |||||||||||||||
| 内容記述 | ||||||||||||||||
| 内容記述タイプ | Other | |||||||||||||||
| 内容記述 | January 23, 2008 -- Title page | |||||||||||||||
| 言語 | en | |||||||||||||||
| 内容記述 | ||||||||||||||||
| 内容記述タイプ | Abstract | |||||||||||||||
| 内容記述 | Using large-scale daily scanner data, we investigate micro and macro price dynamics in Japan between 1988 and 2005. Drawing upon three billion observations of prices and the number of sold units, we find: (i) the frequency of price change is increasing, (ii) the frequency varies greatly between products and stores, and (iii) the choice of data frequency is crucial when estimating the degree of price stickiness. The estimates obtained with daily data are very different from those employing monthly data. Moreover, (iv) a Consumer Price Index (CPI) based on scanner data exhibits similar movements to the official CPI, except for the first half of the 1990s and in the 2000s, (v) the lower substitution bias does not comprise a serious problem, and (vi) the scanner-based CPI is more strongly correlated with the GDP gap than the official CPI. Our findings of the increasing frequency of price changes and very flexible prices are inconsistent with New Keynesian models of the Phillips Curve and recent Japanese experience with the flattening of the Phillips Curve. The second and third findings cast doubt on the use of monthly data to estimate the degree of price stickiness. | |||||||||||||||
| 出版者 | ||||||||||||||||
| 出版者 | Research Center for Price Dynamics, Institute of Economic Research, Hitotsubashi University | |||||||||||||||
| 日付 | ||||||||||||||||
| 日付 | 2008-01-28 | |||||||||||||||
| 日付タイプ | Issued | |||||||||||||||
| 言語 | ||||||||||||||||
| 言語 | eng | |||||||||||||||
| 資源タイプ | ||||||||||||||||
| 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 | ||||||||||||||||
| 出版タイプ | VoR | |||||||||||||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||||||||||||
| 関連情報 | ||||||||||||||||
| 関連タイプ | isPartOf | |||||||||||||||
| 関連名称 | Working Paper Series ; No. 18 | |||||||||||||||
| ページ数 | ||||||||||||||||
| ページ数 | 50 | |||||||||||||||
| Sponsorship | ||||||||||||||||
| 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 | ||||||||||||||||
| 値 | E31 | |||||||||||||||
