Dataciencia

Colección SciELO Chile

Structural estimation of price adjustment costs in the European car market

Indexado

WoS	WOS:000390501200004
Scopus	SCOPUS_ID:84992052276

DOI

10.1016/J.IJINDORG.2016.09.001

Año

2016

Tipo

artículo de investigación

Citas Totales

Autores Afiliación Chile

Instituciones Chile

% Participación
Internacional

Autores
Afiliación Extranjera

Instituciones
Extranjeras

Abstract

This paper characterizes the price adjustment costs that are consistent with observed price dynamics in the European car market. We estimate a dynamic model of international multi-product firms that set prices in different currencies while facing price adjustment costs. We find that large price adjustment costs are not needed to rationalize the substantial degree of price inertia we observe in the data. Intuitively, since GDP, wages and exchange rates exhibit such a large degree of auto correlation, small adjustment costs can explain very persistent prices. Also, accounting for country-specific price sensitivity, wages, GDP and exchange rates, the price adjustment costs should differ substantially across producers and markets to match the data. (C) 2016 Elsevier B.V. All rights reserved.

Revista

Revista	ISSN
International #Journal Of Industrial Organization	0167-7187

Métricas Externas

PlumX	Altmetric	Dimensions

Muestra métricas de impacto externas asociadas a la publicación. Para mayor detalle:

Plumx: https://plumanalytics.com/learn/about-metrics/
Altmetric: https://www.altmetric.com/about-altmetrics/what-are-altmetrics/
Dimensions: https://www.dimensions.ai/why-dimensions/

Disciplinas de Investigación

WOS
Economics

Scopus
Industrial And Manufacturing Engineering
Economics And Econometrics
Strategy And Management
Aerospace Engineering
Industrial Relations

SciELO
Sin Disciplinas

Muestra la distribución de disciplinas para esta publicación.

Publicaciones WoS (Ediciones: ISSHP, ISTP, AHCI, SSCI, SCI), Scopus, SciELO Chile.

Colaboración Institucional

Muestra la distribución de colaboración, tanto nacional como extranjera, generada en esta publicación.

Autores - Afiliación

Ord.	Autor	Género	Institución - País
1	Noton, Carlos	Hombre	Universidad de Chile - Chile Instituto Milenio para la Investigación en Imperfecciones de Mercado y Políticas Públicas - Chile

Muestra la afiliación y género (detectado) para los co-autores de la publicación.

Origen de Citas Identificadas

Muestra la distribución de países cuyos autores citan a la publicación consultada.

Citas identificadas: Las citas provienen de documentos incluidos en la base de datos de DATACIENCIA

Citas Identificadas: 33.33 %
Citas No-identificadas: 66.67 %

Muestra la distribución de instituciones nacionales o extranjeras cuyos autores citan a la publicación consultada.

Citas identificadas: Las citas provienen de documentos incluidos en la base de datos de DATACIENCIA

Citas Identificadas: 33.33 %
Citas No-identificadas: 66.67 %

Financiamiento

Fuente
Millennium Institute for Research in Market Imperfections and Public Policy

Muestra la fuente de financiamiento declarada en la publicación.

Agradecimientos

Agradecimiento
I acknowledge financial support from the Millennium Institute for Research in Market Imperfections and Public Policy, ICM IS130002.
This paper is based on my Ph.D dissertation at UC Berkeley. Thanks to Maurice Obstfeld, Lanier Benkard and Sofia Villas-Boas for their guidance and support. I thank the editor and two anonymous reviewers for their constructive comments, which helped us to improve the manuscript. Gregory Crawford, Andrés Elberg, Yuriy Gorodnichenko, Pierre Olivier Gourinchas, Daniel L. McFadden, Emi Nakamura, Denis Nekipelov, Kenneth E. Train and Tomás Rau contributed with insightful comments. I also thank the seminar participants at the Bank of Canada, IESE Business School, IMT Lucca, ITAM School of Business, Università della Svizzera italiana, Universitat Autonoma de Barcelona, Universitat Pompeu Fabra, Université de Toulouse, University of Alicante, University of Warwick, ZEW-Mannheim. All remaining errors are my own. I acknowledge financial support from the Millennium Institute for Research in Market Imperfections and Public Policy, ICM IS130002.

Agradecimiento

I acknowledge financial support from the Millennium Institute for Research in Market Imperfections and Public Policy, ICM IS130002.

This paper is based on my Ph.D dissertation at UC Berkeley. Thanks to Maurice Obstfeld, Lanier Benkard and Sofia Villas-Boas for their guidance and support. I thank the editor and two anonymous reviewers for their constructive comments, which helped us to improve the manuscript. Gregory Crawford, Andrés Elberg, Yuriy Gorodnichenko, Pierre Olivier Gourinchas, Daniel L. McFadden, Emi Nakamura, Denis Nekipelov, Kenneth E. Train and Tomás Rau contributed with insightful comments. I also thank the seminar participants at the Bank of Canada, IESE Business School, IMT Lucca, ITAM School of Business, Università della Svizzera italiana, Universitat Autonoma de Barcelona, Universitat Pompeu Fabra, Université de Toulouse, University of Alicante, University of Warwick, ZEW-Mannheim. All remaining errors are my own. I acknowledge financial support from the Millennium Institute for Research in Market Imperfections and Public Policy, ICM IS130002.