Examining the Behaviour of Individual UK Consumer Prices

@article{Bunn2012ExaminingTB,
  title={Examining the Behaviour of Individual UK Consumer Prices},
  author={Philip Bunn and Colin Ellis},
  journal={Wiley-Blackwell: Economic Journal},
  year={2012}
}
This article examines how UK consumer prices behave, using two databases with millions of price observations: the microdata that underpin official Consumer Prices Index data and a database of supermarket prices. Prices do not change continuously but our key finding is the marked heterogeneity in the data. That is not consistent with standard microeconomic foundations that typically form the basis of macroeconomic policy models. Declining hazard functions and the distribution of price changes… Expand
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How Do Individual UK Consumer Prices Behave?
This paper examines the behaviour of individual consumer prices in the United Kingdom, and uncovers a number of stylised facts about pricing behaviour. First, on average 19% of prices change eachExpand
How Do Individual UK Producer Prices Behave?
This paper examines the behaviour of individual producer prices in the United Kingdom, and uncovers a number of stylised facts about pricing behaviour. First, on average 26% of producer prices changeExpand
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