A5102882868- Monetary Policy and Economic Impact
- Labor market dynamics and wage inequality
- Italy: Economic History and Contemporary Issues
- Firm Innovation and Growth
- Economic Theory and Policy
- Phonetics and Phonology Research
- Economic Policies and Impacts
- Economics of Agriculture and Food Markets
- Corporate Finance and Governance
- Market Dynamics and Volatility
- Economic theories and models
- Voice and Speech Disorders
- Fiscal Policy and Economic Growth
- Merger and Competition Analysis
- Global Financial Crisis and Policies
- Financial Markets and Investment Strategies
- Linguistic Studies and Language Acquisition
- Global trade and economics
- Employment and Welfare Studies
- Semantic Web and Ontologies
- Fiscal Policies and Political Economy
- Labor Movements and Unions
- Spanish Linguistics and Language Studies
- Text Readability and Simplification
- Syntax, Semantics, Linguistic Variation
Lusíada University of Lisbon
2006-2024
Fundação Minerva - Cultura - Ensino e Investigação Científica
2005-2024
University of Lisbon
2012-2024
Banco de Portugal
2011-2024
Universidade Europeia
2019
University of Minho
2002
Journal Article Sticky Prices in the Euro Area: A Summary of New Micro-Evidence Get access Luis J. Álvarez, Álvarez 1Banco de España Search for other works by this author on: Oxford Academic Google Scholar Emmanuel Dhyne, Dhyne 2Banque Nationale Belgique Marco Hoeberichts, Hoeberichts 3De Nederlandsche Bank Claudia Kwapil, Kwapil 4Oesterreichische Nationalbank Hervé Le Bihan, Bihan 5Banque France Patrick Lünnemann, Lünnemann 6Banque Centrale du Luxembourg Fernando Martins, Martins 7Banco...
This study investigates the pricing behaviour of firms in euro area on basis surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms. The results, robust across countries, show that operate monopolistically competitive markets, where prices are mostly set following markup rules and price discrimination is common. Around one-third follow mainly time-dependent while two-thirds allow for elements state-dependence. majority take into account past expected...
This paper presents new evidence on the patterns of price and wage adjustment in European firms extent nominal rigidities. It uses a unique dataset collected through firm-level survey conducted broad range countries covering various sectors. Several conclusions are drawn from this evidence. Firms adjust wages less frequently than prices: former tend to remain unchanged for about 15 months average, latter around 10 months. The degree rigidity varies substantially across sectors depends...
This study investigates the pricing behaviour of firms in euro area on basis surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms. The results, robust across countries, show that operate monopolistically competitive markets, where prices are mostly set following markup rules and price discrimination is common. Around one-third follow mainly time-dependent while two-thirds allow for elements state-dependence. majority take into account past expected...
This paper presents new evidence on the patterns of price and wage adjustment in European firms extent nominal rigidities. It uses a unique dataset collected through firm-level survey conducted broad range countries covering various sectors. Several conclusions are drawn from this evidence. Firms adjust wages less frequently than prices: former tend to remain unchanged for about 15 months average, latter around 10 months. The degree rigidity varies substantially across sectors depends...
This work delves into the intricate relationship between labor law and competition in Brazil. Despite their seemingly distinct nature, these two principles are deeply intertwined within country’s constitutional economic framework. article highlights potential for creating meaningful connections fields. Through an exploratory analytical methodology, authors provide a comprehensive view, drawing primarily from practical cases faced by authority (Administrative Council Economic Defense), to...
This paper analyses the results of a survey conducted by Banco de Portugal with main purpose investigating firms' price setting behaviour. The evidence points to presence considerable degree stickiness, which seems be higher in services than manufacturing. implicit contracts between firms and their customers under former pledge stabilise prices as way increase customers' loyalty is apparently reason that prevents from changing more promptly. Other relevant sources stickiness were also found:...
This paper introduces innovative, newly developed forward-looking indicators of negotiated wage growth in the euro area using data on collective bargaining agreements from seven countries: Germany, France, Italy, Spain, Netherlands, Austria and Greece. The demonstrates how agreement-level can be used to study drivers aggregate growth, as well monitor breadth increases account for time-varying factors such one-off payments, when assessing pressures. Lastly, shows that new provide reliable...
This paper presents original evidence on price setting in the euro area at individual level. We use micro data consumer (CPI) and producer (PPI) prices, as well survey information. Our main findings are: (i) prices are sticky more so than US; (ii) there is of heterogeneity asymmetries behaviour; (iii) downward rigidity only slightly marked upward (iv) implicit or explicit contracts coordination failure theories important, whereas menu information costs judged much less relevant by firms.
This paper presents new evidence on the patterns of price and wage adjustment in European firms extent nominal rigidities. It uses a unique dataset collected through firm-level survey conducted broad range countries covering various sectors. Several conclusions are drawn from this evidence. Firms adjust wages less frequently than prices: former tend to remain unchanged for about 15 months average, latter around 10 months. The degree rigidity varies substantially across sectors depends...
Abstract This paper analyses the results of a survey conducted on sample Portuguese firms, with main purpose investigating their price setting behaviour. The evidence points to considerable degree stickiness: most firms do not change prices more than once year; time lags in reactions shocks are significant; and half follow time‐dependent reviewing build decisions disregarding any indication future economic developments. Implicit contracts between customers under which former pledge stabilise...
In Portugal, as in many other countries continental Europe, the collective wage agreements between trade unions and employer associations that define floors for specific job titles are systematically extended to whole industry. This means firms obliged increase wages of their workforce order comply with newly-agreed bargained wages. With some trepidation, we call this phenomenon upward nominal rigidity, close symmetry Keynesian notion downward rigidity. paper provide evidence more heavily...
Infrequent price changes at the firm level are now well documented in literature. However, a number of issues remain partly unaddressed. This paper contributes to literature on stickiness by investigating lags adjustments different types shocks. We find that adjustment cost and demand shocks vary with characteristics, namely firm’s structure, type pricing policy, good. also document firms react asymmetrically shocks, as positive negative degree direction asymmetry varies across firms.
Abstract We study the speed of price reactions to positive and negative demand cost shocks. Our findings suggest that adjustment lags vary in line with predictions optimal setting models. Moreover, we find firms' are asymmetric, these asymmetries cannot be fully explained by any single theoretical model asymmetric adjustment. Overall, results reaction monetary policy shocks may depend on which firms or sectors particularly affected them and, therefore, richer models needed understand effects policy.
This paper reports on two discrimination experiments involving Portuguese data.The findings support the prosodic contrast between EP and BP stress role played by intonation in this contrast.They also show that perceptual distance is smaller than Dutch.The robust distinction Dutch provides evidence for different weights of acoustic parameters, points to syllable-timed nature EP.
Abstract This paper provides evidence on the role of non-base wage components as a channel for firms to adjust labour costs in event adverse shocks. It uses data from firm-level survey 25 European countries that covers period 2010–2013. We find subject nominal rigidities, which prevent them adjusting base wages, are more likely cut when they hit by negative Firms thus use strategic margin overcome rigidity. also show while exhibit some degree downward rigidity this is smaller than observed wages.
In this paper, we present a production study to explore the controversial question about /l/ velarisation. Measurements of first (F1), second (F2) and third (F3) formant frequencies slope F2 were analysed clarify velarisation behaviour in European Portuguese (EP). The acoustic data collected from ten EP speakers, producing trisyllabic words with paroxytone stress pattern, liquid consonant at middle word onset, complex onset coda positions. Results suggested that is produced on continuum EP....