Hervé Le Bihan

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Sticky prices in the euro area: a summary of new micro evidence * Views expressed are those of the individual authors and do not necessarily reflect official positions of De Nederlandsche Bank. ABSTRACT This paper presents original evidence on price setting in the euro area at the individual level. We use micro data on consumer (CPI) and producer (PPI)(More)
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 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 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)
Les Notes d'Études et de Recherche reflètent les idées personnelles de leurs auteurs et n'expriment pas nécessairement la position de la Banque de France. Ce document est disponible sur le site internet de la Banque de France « www.banque-France.fr ». Working Papers reflect the opinions of the authors and do not necessarily express the views of the Banque(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)
We document the presence of both small and large price changes in individual price records from the CPI in France and the US. After correcting for measurement error and cross-section heterogeneity, the size-distribution of price changes has a positive excess kurtosis. We propose an analytical menu cost model that encompasses several classic accounts for(More)