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Relative Price Variability and Inflation: Empirical Evidence from Turkey

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  • Meral Karasulu

Abstract

This paper presents empirical evidence on the relationship between inflation and relative price variability (RPV) using disaggregated store level price data for Istanbul, Izmir and Ankara for the 1991-1996 period. Both intermarket and intramarket dimensions of relative price variability are analyzed. Up to 95% of total variation in inflation rates is due to the within market variation of inflation. I find robust evidence for a positive correlation between inflation and relative price variability. For intermarket variation this relationship is strengthened by the skewness of relative price changes.

Suggested Citation

  • Meral Karasulu, 1998. "Relative Price Variability and Inflation: Empirical Evidence from Turkey," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 2(6), pages 1-26.
    • Handle: RePEc:bor:iserev:v:2:y:1998:i:6:p:1-26
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    File URL: http://www.borsaistanbul.com/datum/imkbdergi/EN/ISE_Review_06.pdf
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    Cited by:

    1. Hande Kucuk-Tuger & Burc Tuger, 2004. "Relative Price Variability : The Case of Turkey 1994-2002," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 4(2), pages 1-40.
    2. Saygın Şahinöz & Bedriye Saraçoğlu, 2011. "How do firms adjust their prices in Turkey? Micro-level evidence," Empirical Economics, Springer, vol. 40(3), pages 601-621, May.

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