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Pricing Decisions in the Euro AreaHow Firms Set Prices and Why$
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Silvia Fabiani, Claire Suzanne Loupias, Fernando Manuel Monteiro Martins, and Roberto Sabbatini

Print publication date: 2007

Print ISBN-13: 9780195309287

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780195309287.001.0001

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A Comparison Based on International Survey Evidence

A Comparison Based on International Survey Evidence

(p.185) 12 A Comparison Based on International Survey Evidence
Pricing Decisions in the Euro Area

Patrick Lünnemann

Thomas Mathä

Oxford University Press

This chapter compares internationally the available survey evidence of firms' price setting behavior. It reports a number of remarkable similarities across countries. Firms typically operate in imperfectly competitive markets, where they have a low market share, face several competitors, and are primarily engaged in long-term relationships with their customers, mainly other firms. The modal price review and price change frequency per year is one across countries. Implicit and explicit contracts, coordination failure, and cost-based pricing are recognized as the most important reasons for price rigidity.

Keywords:   Survey, price setting behavior, price rigidity

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