Working paper no. 90: What a difference a decade makes: survey evidence from Icelandic firms
The Central Bank of Iceland has published a research paper that presents results of a survey conducted among Icelandic firms in the year 2019, following several years of relative price stability. It is therefore interesting to compare the survey‘s results with an almost identical survey from the year 2008, a time period of extreme volatility and uncertainty. The survey responses show that firms both review and change their prices less frequently according to the survey in 2019 than they did in 2008. Furthermore, they indicate that the impact of changes in the exchange rate on pricing decisions is more symmetric than before.
The Working paper by Aðalheiður Ó. Guðlaugsdóttir, Karen Á. Vignisdóttir and Lilja S. Kro can be accessed here: What a difference a decade makes: survey evidence from Icelandic firms