Why Do Prices in Sierra Leone Change So Often? A Case Study Using Micro-level Price Data / Arto Kovanen.

Format:

Book

Government document

Author/Creator:

Kovanen, Arto.

Contributor:

International Monetary Fund. African Department.

Series:

IMF Working Papers; Working Paper ; No. 2006/053

IMF Working Papers

Language:

English

Subjects (All):

Inflation (Finance)--Sierra Leone--Econometric models.

Inflation (Finance).

Pricing--Sierra Leone--Econometric models.

Pricing.

Physical Description:

1 online resource (29 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

Summary:

We use cross-section and time-series techniques to analyze pricing behavior in Sierra Leone. In cross-sectional data, we find that inflation volatility and product diversification are the main factors explaining differences in the frequency of price adjustments. We show that variance in the fraction of prices subject to change is a key determinant of inflation volatility in Sierra Leone, indicating that retail prices are sensitive to economic events. We explain variations in this fraction over time with past inflation and monetary growth, which are important policy variables.

Contents:

""Contents""; ""I. Introduction""; ""II. Empirical Studies on Pricing Behavior""; ""III. Some Stylized Facts�Cross-Sectional Evidence""; ""IV. What Explains the High Frequency of Price Changes?""; ""V. What Determines the Frequency of Price Changes Over Time?""; ""VI. Conclusions""; ""References""; ""APPENDIX""

Notes:

"February 2006."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786613829337

9781462376049

1462376045

9781451989366

1451989369

9781283516884

1283516888

9781451908497

1451908490

OCLC:

698585496