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The impact of the 2008 crisis on UK prices: what we can learn from the CPI microdata

Dixon, Huw, Luintel, Kul and Tian, Kun 2014. The impact of the 2008 crisis on UK prices: what we can learn from the CPI microdata. [Working Paper]. Cardiff Economics Working Papers, Cardiff: Cardiff University.

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Abstract

This paper takes the locally collected price-quotes used to construct the CPI index in the UK for the period 1996-2013 to explore the impact of the crisis on the pricing behavior of firms. We develop a time-series framework which is able to capture the link between macroeconomic variables (inflation and output) and the behavior of prices in terms of the frequency of price change, the dispersion of price levels and the dispersion of price-growth. Whilst these effects are present, they are small and do not have significant effects for monetary policy.

Item Type: Monograph (Working Paper)
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
Publisher: Cardiff University
Date of First Compliant Deposit: 30 March 2016
Last Modified: 19 Apr 2020 13:42
URI: http://orca.cf.ac.uk/id/eprint/78009

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