Micro Price Dynamics during Japan's Lost Decades

Nao Sudo, Kozo Ueda, Kota Watanabe

研究成果: Review article査読

9 被引用数 (Scopus)

抄録

We study micro price dynamics and their macroeconomic implications using daily scanner data from 1988 to 2013. We provide five facts. First, posted prices in Japan are ten times as flexible as those in the US scanner data. Second, regular prices are almost as flexible as those in the USA and Euro area. Third, the heterogeneity of frequency and size of price change across products is sizable and maintained throughout the sample period. Fourth, during Japan's lost decades, temporary sales have played an increasingly important role in households' consumption expenditure. Fifth, the frequency of upward regular price revisions and the frequency of sales are significantly correlated with the macroeconomic environment, in particular indicators associated with a labor market, while other components of price changes are not.

本文言語English
ページ(範囲)44-64
ページ数21
ジャーナルAsian Economic Policy Review
9
1
DOI
出版ステータスPublished - 2014 1

ASJC Scopus subject areas

  • 経済学、計量経済学および金融学(全般)
  • 政治学と国際関係論
  • 管理、モニタリング、政策と法律

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