Hervé Le Bihan

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The present paper documents consumer price setting in the euro area. It summarises evidence from ten studies on individual euro area countries and provides original euro area figures. Each of the studies uses an original monthly CPI database allowing for a wide coverage of the household consumption expenditure. The following stylised facts emerge(More)
This paper investigates the behaviour of consumer prices in Italy by looking at micro data in the attempt to obtain a quantitative measure of the unconditional degree of price rigidity in the Italian economy. The analysis focuses on the monthly frequency of price changes and on the duration of price spells, also with reference to different types of products(More)
This paper documents nominal wage stickiness using an original quarterly …rm-level dataset. We use the ACEMO survey, which reports the base wage for up to 12 employee categories in French …rms over the period 1998 to 2005, and obtain the following main results. First, the quarterly frequency of wage change is around 35 percent. Second, there is some(More)
This paper documents patterns of price setting at the retail level in the euro area. A set of stylized facts on the frequency and size of price changes is presented along with an econometric investigation of their main determinants. Price adjustment in the euro area can be summarized in six stylized facts. First, prices of most products change rarely. The(More)
This paper compares the ability of four indicators of underlying or ‘core’ inflation to forecast inflation in the French case. Though most indicators Granger-cause inflation, results from out of sample tests of forecast accuracy are less compelling. The results nevertheless seem to give some empirical support to trimmed mean indicators.  2000 Elsevier(More)
This paper identifies the basic features of the price setting mechanism in the Spanish economy, using a large dataset that contains over 1.1 million price records and covers around 70% of the expenditure on the CPI basket. In particular, the paper identifies differences in the frequency and size of price adjustments across types of products and explores how(More)
  • L. Bilke, Ignazio Angeloni, +8 authors Jean-Pierre Villetelle
  • 2004
This paper uses disaggregated CPI time series to analyze the dynamics of French in‡ation. It shows that a break in the mean of in‡ation throughout the CPI basket occurred in the mid-eighties. This con…rms that the 1983 shift to the "Franc fort" policy had an impact on in‡ation dynamics. CPI average yearly growth declined from nearly 11% before the break(More)
Restaurant Prices and the Minimum Wage We examine the effect of the minimum wage on restaurant prices. We contribute to both the study of economic impact of the minimum wage and to the micro patterns of price stickiness. For that purpose, we use a unique dataset of individual price quotes collected to calculate the Consumer Price Index in France and we(More)
In this paper we propose a new parametric approach for measuring core inflation and analysing the inflation process. In the model, measured inflation may change because of changes in three basic factors: long-run conditions, transitory output, and ”special factors”. The “special factors” include supply shocks and other factors that affect inflation over and(More)