文章基本信息

标题：Wage and price setting: new evidence from Uruguayan firms
本地全文：下载
作者：Fernando Borraz ; Gerardo Licandro ; Daniela Sola 等
期刊名称：Journal of Applied Economics
印刷版ISSN：1514-0326
电子版ISSN：1667-6726
出版年度：2020
卷号：23
期号：1
页码：560-582
DOI：10.1080/15140326.2020.1805713
摘要：This paper presents new evidence on wage and price setting based on a survey of more than 300 Uruguayan firms in 2013. Most of the firms set prices considering costs and adding a profit margin; therefore, they have some degree of market power. The evidence indicates that price increases appear quite flexible in Uruguay (prices are downward rigid). Most of the firms adjust their prices on an irregular basis, which suggests that price changes in Uruguay are state-dependent, although wage changes are concentrated in January and July. Interestingly, the cost of credit is seen as an irrelevant factor in explaining price increases. We also find that cost reduction is the principal strategy to a negative demand shock, and finally, that the adjustment of prices to changes in wages is relatively quick.
关键词：Price setting ; labor market ; survey evidence ; Uruguay