The speed and stability of price adjustment in Australian manufacturing
A model of industry speed of price adjustment is derived from firm pricing behaviour. The model is applied to quarterly two-digit Australian manufacturing data for the period 1985 (Q3) to 2002 (Q3). The results suggest that the industry speed of price adjustment is positively related to the averag...
| Main Authors: | , |
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| Format: | Journal Article |
| Published: |
Blackwell Publishing Asia
2007
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| Online Access: | http://hdl.handle.net/20.500.11937/36796 |
| _version_ | 1848754869515583488 |
|---|---|
| author | Bloch, Harry Olive, M. |
| author_facet | Bloch, Harry Olive, M. |
| author_sort | Bloch, Harry |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | A model of industry speed of price adjustment is derived from firm pricing behaviour. The model is applied to quarterly two-digit Australian manufacturing data for the period 1985 (Q3) to 2002 (Q3). The results suggest that the industry speed of price adjustment is positively related to the average size of large firms within the industry and is negatively related to industry concentration. We also find that import share has a role is attenuating the effects of industry concentration and that growth in a moving average of real gross domestic product reduces the speed of price adjustment. Calculated industry speeds of price adjustment are both stable across the period of examination and small, suggesting that manufacturing prices are sticky. |
| first_indexed | 2025-11-14T08:47:16Z |
| format | Journal Article |
| id | curtin-20.500.11937-36796 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T08:47:16Z |
| publishDate | 2007 |
| publisher | Blackwell Publishing Asia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-367962017-09-13T15:55:37Z The speed and stability of price adjustment in Australian manufacturing Bloch, Harry Olive, M. A model of industry speed of price adjustment is derived from firm pricing behaviour. The model is applied to quarterly two-digit Australian manufacturing data for the period 1985 (Q3) to 2002 (Q3). The results suggest that the industry speed of price adjustment is positively related to the average size of large firms within the industry and is negatively related to industry concentration. We also find that import share has a role is attenuating the effects of industry concentration and that growth in a moving average of real gross domestic product reduces the speed of price adjustment. Calculated industry speeds of price adjustment are both stable across the period of examination and small, suggesting that manufacturing prices are sticky. 2007 Journal Article http://hdl.handle.net/20.500.11937/36796 10.1111/j.1475-4932.2007.00405.x Blackwell Publishing Asia restricted |
| spellingShingle | Bloch, Harry Olive, M. The speed and stability of price adjustment in Australian manufacturing |
| title | The speed and stability of price adjustment in Australian manufacturing |
| title_full | The speed and stability of price adjustment in Australian manufacturing |
| title_fullStr | The speed and stability of price adjustment in Australian manufacturing |
| title_full_unstemmed | The speed and stability of price adjustment in Australian manufacturing |
| title_short | The speed and stability of price adjustment in Australian manufacturing |
| title_sort | speed and stability of price adjustment in australian manufacturing |
| url | http://hdl.handle.net/20.500.11937/36796 |