High-Frequency Food Prices: Evidence from the Czech Republic
|Autor:||Mgr. Anna Pavlovová|
|Rok:||2021 - letní|
|Vedoucí:|| doc. PhDr. Tomáš Havránek Ph.D.
|Typ práce:|| Diplomová
Finance, finanční trhy a bankovnictví
|Ocenění:||Ocenění DOT Award za vynikající diplomovou práci.|
|Abstrakt:||With increasing engagement in on-line shopping accelerated by the events of
2020, what can we learn about prices and their rigidity in the on-line sector?
We collect an extensive dataset of scraped daily prices for four on-line grocery
retailers from the Czech Republic from January 2020 to April 2021. We find
substantial dierences in pricing among the retailers, including the impact of
interest rate changes and the introduction of lockdowns on the probability
of price change. Price rigidity depends significantly on the retailer and the
assumptions imposed on temporary price changes. The mean number of all
price changes among retailers ranges between 3.10 and almost 11 per year.
Depending on the definition of excluded temporary price changes, retailers
change prices permanently on average between 0.68 to 4.04 times per year. We
show that a more in-depth analysis of temporary price changes is crucial for a
robust assessment of price rigidity