en en

Analytické štúdie (Policy Briefs)

Analytické štúdie (Policy Briefs) sú stručné analytické dokumenty. Sú výstupom ekonómov a výskumníkov rôznych odborov Národnej banky Slovenska. Materiály prinášajú nové pohľady vzhľadom na politický rámec v banke alebo sumarizujú vedomosti v rámci vybranej oblasti. Materiály môžu byť prínosom pre expertov v danej oblasti (dĺžka čítania 10 – 15 minút). Materiály sú dostupné iba v anglickej verzii.

Materiály prezentujú názory autorov a nie sú oficiálnym stanoviskom NBS.

Č. 2

23. 1. 2023

When food bites back

André Casalis

  • Abstrakt

    Markups for firms operating in food and beverages manufacture and sales sectors have increased in the first half of 2022, suggesting a decoupling between the increase in current production costs and prices. The evolution of markups in the period between the first quarter of 2015 and the second quarter of 2022, a high-inflation environment, shows, on one hand, a very recent dynamic evolution of the price setting behaviour displayed by food-related businesses, and on the other the remarkable stability of markups observed at broad aggregate level in the largest sectors of the Slovak economy.

Č. 1

31. 8. 2022

Direct impact of energy price increases on firm profitability and producer prices

Ján Klacso, Tibor Lalinský

  • Abstrakt

    Increasing energy prices represent one of the main drivers of the recent increase of HICP inflation to double-digit figures. In this Policy Brief we focus on the first-round effects of increased energy prices on Slovak firms. Our results based on firm level data suggest that increasing energy prices may have a significant direct impact on the profitability of many firms. Without adjusting their prices, the number of firms reporting losses could increase substantially as a result of energy price increases. Moreover, almost all firms with high energy costs would end up with a loss. Therefore, we assume firms transmit increased energy costs to producer prices. The direct effect may reach up to 8% in some sectors to compensate for higher input costs if energy prices double. As energy intensive industries are important suppliers to other domestic industries, we may also expect significant upward second-round effects on producer prices and ultimately increasing consumer prices.

mailinglist

Vaše pripomienky k analytickým štúdiám posielajte na adresu research@nbs.sk.