Price changes in Finland: some evidence from the micro CPI data

This paper studies the adjustment patterns of Finnish Consumer Price Index (CPI) from the following perspectives. First, we examine how the adjustment patterns have changed from late 1990s to mid 2000s. We find significant differences in the price adjustment patterns both over time and between item...

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Bibliographic Details
Published in:Finnish Economic Papers 2009-10, Vol.22 (2), p.47-62
Main Author: Kurri, Samu
Format: Article
Language:English
Subjects:
Consumer Price Index
Consumer prices
Data analysis
Empirical research
Finland
Inflation
Microanalysis
Monetary policy
Price models
Pricing
Time
Time series
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Summary:This paper studies the adjustment patterns of Finnish Consumer Price Index (CPI) from the following perspectives. First, we examine how the adjustment patterns have changed from late 1990s to mid 2000s. We find significant differences in the price adjustment patterns both over time and between item subgroups. Second, we examine the relative importance of time and state dependent pricing elements found in the Finnish CPI data. Our empirical findings are consistent with a time dependent pricing model, although we find some signs of state dependent pricing behaviour as well. (JEL: C40, C81, D21, D39, E31, E37, R32) Reprinted by permission of Finnish Society for Economic Research
ISSN:0784-5197
1798-7423