Data and Code for: New Facts on Consumer Price Rigidity in the Euro Area

Principal Investigator(s): View help for Principal Investigator(s) Erwan Gautier, Banque de France; Cristina Conffliti, Banca d'Italia; Riemer Faber, National Bank of Belgium; Brian Fabo, Central Bank of Slovakia and Slovak Academy of Sciences ; Ludmila Fadejeva, Bank of Latvia; Valentin Jouvanceau, Bank of Lithuania; Jan-Oliver Menz, Deutsche Bundesbank; Teresa Messner, Oesterreichische Nationalbank; Pavlos Petroulas, Bank of Greece; Pau Roldan-Blanco, Banco de España and CEMFI; Fabio Rumler, Oesterreichische Nationalbank; Sergio Santoro, European Central Bank; Elisabeth Wieland, Deutsche Bundesbank; Hélène Zimmer, National Bank of Belgium

Version: View help for Version V3

Name	File Type	Size	Last Modified
AEJMacro_2022_0289_REPLICATION_FILES			09/03/2024 12:28:PM

Project Citation:

Gautier, Erwan, Conffliti, Cristina, Faber, Riemer, Fabo, Brian, Fadejeva, Ludmila, Jouvanceau, Valentin , … Zimmer, Hélène. Data and Code for: New Facts on Consumer Price Rigidity in the Euro Area. Nashville, TN: American Economic Association [publisher], 2024. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2024-09-05. https://doi.org/10.3886/E188683V3

Project Description

Summary: These files contain data and codes for the journal article Gautier et al. "New Facts on Consumer Price Rigidity in the Euro Area" - AEJ Macro

Using CPI micro data for 11 euro-area countries over the period 2010-2019, we document new findings on consumer price rigidity in the euro area: (i) the average frequency of price changes is 12% (ii) the distribution of price changes is highly dispersed with frequent large and small changes (iii) price changes are more frequent in January (iv) the overall size of price changes rises with inflation but their frequency does not; these changes in the size are driven by movements in the fraction of price changes that are increases and not by the absolute size of price increases or decreases.

Scope of Project

Subject Terms: Price rigidity; euro area ; monetary policy

JEL Classification:
D40 Market Structure, Pricing, and Design: General
E31 Price Level; Inflation; Deflation

Geographic Coverage: Euro area

Time Period(s): 2005 – 2019 (can vary across EA countries)

Collection Date(s): 2005 – 2019 (can vary across EA countries)

Data Type(s): aggregate data; other; program source code

Collection Notes: Micro price data were collected by National Statistical Institutes (NSI) to compute the consumer price indices in the different countries. These data are not publicly available and are not contained in our replication package. However, we describe in country-specific readme files how we had access to the national data and we also provide all the codes to replicate country-specific statistics (see the folder country_replciation_files).

All country-specific statistics of price rigidity computed at the product-country level (in both cross section and time series dimensions) are made available in this replication package as well as the codes required to replicate the figures and tables of the paper.

For more details on the data collection/access/dissemination, see the data appendix of the paper and country-specific readme files contained in this package. A general readme file can be found at the root of the main folder, this readme file describes in more details the replication package.

Methodology

Sampling: Micro price data are collected by national statistical institutes (NSI) in the different euro area countries to compute national consumer price indices. The sampling corresponds to the one use by NSI to compute the consumer price index and the general metholodgy of price collection follows recommendations of Eurostat.

Data Source: CPI micro data in 11 euro area countries (Germany, France, Italy, Spain, Belgium, Austria, Greece, Slovakia, Lithuania, Luxembourg, Latvia)
See data appendix of the paper and country-specific readme files contained in this replication package.

Weights: HICP weights are used to aggregate results at the sector- or/and country-level. Weights are provided in separated files in the replication package (see Readme file for details)

Unit(s) of Observation: Individual product-outlet-country-date(MM-YYYY)

Geographic Unit: 11 euro area countries (DE, FR, IT, ES, BE, AT, GR, SK, LT, LU, LV)

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Published Versions

V3 [2024-09-05]

V2 [2024-08-27]

V1 [2024-08-20]

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