| Frontpage » Publications » Publication series » Working Papers » 2006 » Aurelijus Dabusinskas, Martti Randveer. Comparison of Pricing Behavior of Firms in the Euro Area and Estonia |
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In this paper, we review the price setting survey of Estonian firms
and compare our findings with the results of similar research in the euro
area summarized by Fabiani et al. (2005). Generally, the price setting
patterns that emerge from our survey are quite similar to those in the
euro zone. There is some evidence, however, that price setting may be
somewhat more flexible in Estonia. The findings that suggest more price
flexibility in Estonia are as follows: the incidence of time-dependent
pricing is lower, the share of firms that are price takers is larger, price
changes are more frequent, and, finally, the speed of price adjustments
to shocks is higher. * We thank the staff of the Estonian Institute of Economic Research (EKI) for helping to design the questionnaire and conducting the survey. We are particularly grateful to Evelin Ahermaa and Marje Josing as well as Kiira Martens, Aet Vanamölder, Lia Lepane, Viivika Savina, Annika Hansman, Merje Kelgo, Bruno Pulver, and Mati Reiman. We also thank Karsten Staehr and Eesti Pank's public seminar and Baltic States Central Banks' seminar participants for their comments and suggestions. The usual disclaimer applies. Authors' e-mail addresses: aurelijus.dabusinskas@epbe.ee, martti.randveer@epbe.ee The views expressed are those of the authors and do not necessarily represent the official views of Eesti Pank. Contents
Comparison of Pricing Behavior of Firms in the Euro Area and Estonia, Working Papers of Eesti Pank No 8/2006 (PDF*)* To read PDF file, you need Adobe® Acrobat® Reader™ freeware, it may be downloaded from Adobe homepage. |
