Price-Setting in Ukraine: Evidence from Online Prices
a National Bank of Ukraine, Kyiv, Ukraine
b Aix-Marseille School of Economics, Marseille, France
Abstract

This study examines price duration and price-setting mechanisms in Ukraine using web-scraped prices. I found that the mean average duration of prices is about 2 months. Average price duration is lower for those products that are more exposed to temporary price changes (sales). Moreover, imported goods have a higher average price duration compared to domestic goods. In terms of the price-setting mechanism, the data supports timedependent price setting behavior over state-dependent. The evidence of time-dependent price setting is 1) the size of price change being positively related to the age of price; 2) many price changes of a size close to zero; and 3) the hazard function being non-increasing for the whole sample and tends to be flatter within relatively homogeneous groups of products.

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Avaliable online 30 June 2019
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Cite as: Antonova, A. (2019). Price-Setting in Ukraine: Evidence from Online Prices. Visnyk of the National Bank of Ukraine, 248, 4-10. https://doi.org/10.26531/vnbu2019.248.01
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