Price flexibility in British supermarkets : moderation and recession
Price flexibility in British supermarkets : moderation and recession
复制标题
英国超市的价格灵活性：温和与衰退
DOI：
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发表时间：
2014
期刊：
影响因子：
--
通讯作者：
M. Waterson
中科院分区：
文献类型：
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作者：
Huw Dixon;Johathan S. Seaton;M. Waterson
与之前的研究相比，本文对微观定价行为及其对宏观经济过程的影响提供了显着不同的实证视角，这主要是因为我们对英国三大超市的每周价格数据跨越了七年时间，包括 2008 年至 2010 年的危机年份。我们发现，自 2008 年以来，价格行为发生了巨大而显着的变化：价格变化更加频繁，价格波动的平均持续时间显着下降。我们的一些发现与既定的经验规律强烈相反，特别是我们发现的常规或参考价格变化的总体频率较高，在更加动荡的时期变化强度更大，以及价格下跌对上涨的数量优势。所揭示的定价行为也极大地挑战了价格跟踪成本变化的隐含假设。 JEL分类：E30； E31; L81
This 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. JEL classification: E30 ; E31 ; L81
DOI：
10.1016/j.ijindorg.2013.07.002
发表时间：
2013-09
影响因子：
1.5
作者：
Jonathan Seaton;M. Waterson
通讯作者：
Jonathan Seaton;M. Waterson