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040 |aCaOODSP|beng|erda|cCaOODSP
0410 |aeng|beng|bfre
043 |aa-is---
045 |ay1y1
0861 |aFB3-5/2020-12E-PDF
1001 |aBonomo, Marco, |eauthor.
24510|aMulti-product pricing : |btheory and evidence from large retailers in Israel / |cby Marco Bonomo, Carlos Carvalho, Oleksiy Kryvtsov, Sigal Ribon and Rodolfo Rigato.
264 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2020.
264 4|c©2020
300 |a1 online resource (iv, 58 pages) : |bcolour illustrations.
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2020-12
500 |a"Last updated: April 7, 2020."
504 |aIncludes bibliographical references (pages 36-39).
5203 |a"Standard theories of price adjustment are based on the problem of a single-product firm, and therefore they may not be well suited to analyze price dynamics in the economy with multiproduct firms. To guide new theory, we study a unique dataset with comprehensive coverage of daily prices in large multi-product food retailers in Israel. We find that a typical retail store synchronizes its regular price changes around occasional "peak" days when, once or twice a month, it reprices around 10% of its products. To assess the implications of partial price synchronization for inflation dynamics, we develop a new price-setting model in which a firm sells a continuum of products and faces economies of scope in price adjustment. The model generates the partial synchronization pattern with peaks of re-pricing activity observed in the data. We show analytically and numerically that synchronization of price changes attenuates the average price response to a monetary shock; however, only high degrees of synchronization can materially strengthen monetary non-neutrality. Hence, the synchronization of price changes observed in the data is consistent with considerable aggregate price flexibility"--Abstract, page iii.
546 |aIncludes abstracts in English and French.
650 0|aGroceries|xPrices|zIsrael|xEconometric models.
650 0|aPricing|xEconometric models.
650 0|aInflation (Finance)|xEconometric models.
650 0|aTransmission mechanism (Monetary policy)|xEconometric models.
650 6|aÉpicerie (Denrées)|xPrix|zIsraël|xModèles économétriques.
650 6|aPrix|xFixation|xModèles économétriques.
650 6|aInflation|xModèles économétriques.
650 6|aMécanismes de transmission (Politique monétaire)|xModèles économétriques.
7102 |aBank of Canada.
830#0|aStaff working paper (Bank of Canada)|v2020-12.|w(CaOODSP)9.806221
85640|qPDF|s1.25 MB|uhttps://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-12-eng.pdf