Price setting behaviour in Japan
The Bank of Japan has published a working paper exploring micro price setting behaviour and price hazard functions.
Price hazard functions are defined as "a conditional probability of price changes in terms of time".
The paper's authors, Daisuke Ikeda and Shinchi Nishioka, of the Bank of Japan's research and statistics department, identify "eleven types [of hazard functions] for goods and six types for services".
These are classified mainly into four groups: i) the flexible group; ii) the Calvo
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