{"title":"Evidence on price stickiness in Japan","authors":"Kozo Ueda","doi":"10.1007/s42973-024-00161-w","DOIUrl":null,"url":null,"abstract":"<p>Using microdata from the Retail Price Survey (the basic statistics for the Consumer Price Index), we document facts regarding price stickiness in Japan. The main results are as follows: (1) The average frequency of price changes approximates <span>\\(20\\%\\)</span> on a monthly basis. (2) The frequency of price changes is more heterogeneous than that in the US (3) Whereas no clear relationship exists between the frequency and size of price changes, a positive correlation emerges between the size of price changes and price dispersion across stores. (4) Large cities tend to have a higher frequency of price changes and smaller price dispersion than small cities. (5) A positive relationship exists between price changes and jobs-to-applicants ratio for some services. (6) Behind the 2022–2023 price increase, the frequency of price changes exhibits a notable increase for certain goods and services such as eating out, while no distinct change is observed for the size of price changes or price dispersion.</p>","PeriodicalId":516533,"journal":{"name":"The Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"The Japanese Economic Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1007/s42973-024-00161-w","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
Using microdata from the Retail Price Survey (the basic statistics for the Consumer Price Index), we document facts regarding price stickiness in Japan. The main results are as follows: (1) The average frequency of price changes approximates \(20\%\) on a monthly basis. (2) The frequency of price changes is more heterogeneous than that in the US (3) Whereas no clear relationship exists between the frequency and size of price changes, a positive correlation emerges between the size of price changes and price dispersion across stores. (4) Large cities tend to have a higher frequency of price changes and smaller price dispersion than small cities. (5) A positive relationship exists between price changes and jobs-to-applicants ratio for some services. (6) Behind the 2022–2023 price increase, the frequency of price changes exhibits a notable increase for certain goods and services such as eating out, while no distinct change is observed for the size of price changes or price dispersion.
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