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Kaufmann, Daniel

Nom
Kaufmann, Daniel
Affiliation principale
Site web
Fonction
Professeur ordinaire
Email
daniel.kaufmann@unine.ch
Identifiants
https://libra.unine.ch/handle/123456789/1129
_
0000-0003-3260-0660

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  • Publication
    Accès libre
    Asymmetries in Price-Setting Behavior: New Microeconometric Evidence from Switzerland
    (2012-12-18)
    Kaufmann, Daniel 
    ;
    Honoré, Bo
    ;
    Lein, Sarah
    In this paper, we follow the recent empirical literature that has specified reduced-form models for price setting that are closely tied to (S, s)-pricing rules. Our contribution to the literature is twofold. First, we propose an estimator that relaxes distributional assumptions on the unobserved heterogeneity. Second, we use the estimator to examine the prevalence of positive price changes in a low-inflation environment. Our model estimates suggest that, if inflation falls from 0.9% to zero, the share of positive price changes in all price changes falls from 63.6% to 56.2%.