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

• Record Nr.: UNINA9910788700503321
• Autore: Kovanen Arto
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2006
• ISBN: 1-4623-7604-5; 1-4519-8936-9; 1-283-51688-8; 9786613829337; 1-4519-0849-0
• Descrizione fisica: 1 online resource (29 p.)
• Collana: IMF Working Papers
• Soggetti: Inflation (Finance) - Sierra Leone - Econometric models; Pricing - Sierra Leone - Econometric models; Inflation; Macroeconomics; Price Level; Deflation; Agriculture: Aggregate Supply and Demand Analysis; Prices; Consumer price indexes; Food prices; Inflation persistence; Sticky prices; Price indexes; Sierra Leone
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "February 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""Contents""; ""I. Introduction""; ""II. Empirical Studies on Pricing Behavior""; ""III. Some Stylized Factsâ€?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""
• Sommario/riassunto: 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.