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首页> 外文期刊>International Journal of Economics and Business Research >Price adjustment lags and their asymmetries in Vietnam
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Price adjustment lags and their asymmetries in Vietnam

机译：越南的价格调整滞后及其不对称性

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The paper aims to investigate factors that influence the speed of price adjustments in response to shocks by firms in Vietnam, using a multivariate ordered probit model with survey data. The results indicate that the speed of price adjustment is more likely to depend on the size of shocks and economic conditions than on whether firms are state or time-dependent price reviewers. We document that firms use the rule-of-thumb in price setting tend to adjust prices more slowly in response to shocks than their counterparts who set prices based on the market conditions and that firms whose prices are influenced by competitors tend to be more flexible in reaction to shocks. In addition, we find that menu costs and contracts are the two most important theories in explaining price stickiness; however, they seem to induce firms to respond more slowly only to shocks that drive prices downwards, rather than to shocks that move prices upwards. Finally, the degree of competition, the market share, the size of firms, the practice of quantity discounts, the share of state ownership, and the sector where firms operate all matter with regards to how quickly and asymmetrically firms react to shocks.
机译：本文旨在利用带有调查数据的多变量有序概率模型，研究影响价格调整速度以应对越南企业冲击的因素。结果表明，价格调整的速度更可能取决于冲击的规模和经济状况，而不是取决于企业是国家还是时间相关的价格审查者。我们记录到，与在市场条件下设定价格的同行相比，在定价中使用thumb-of-thumb的企业倾向于对价格做出更慢的调整，而价格受到竞争对手影响的企业在定价方面更趋于灵活。对电击的反应。此外，我们发现菜单成本和合同是解释价格粘性的两个最重要的理论。但是，它们似乎诱使企业仅对拉低价格的震荡做出反应，而不是对拉高价格的震荡做出反应。最后，竞争程度，市场份额，公司规模，数量折扣的做法，国有所有权的份额以及公司经营的部门，都与公司对冲击的反应速度和不对称程度有关。

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