Relative Price Variability and Inflation: Evidence from US Cities
AbstractWe test whether the time-series positive correlation of inflation and intermarket relative price variability is also present in a cross-section of US cities. We find this correlation to be a robust empirical regularity: cities which have higher than average inflation also have higher than average relative price dispersion, ceteris paribus. This result holds for different periods of time, different classes of goods, and across different time horizons. Our results suggest that at least part of the relationship between inflation and relative price variability cannot be explained by monetary factors.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5627.
Date of creation: Jun 1996
Date of revision:
Publication status: published as Journal of Political Economy Feb.1997, Vol. 105, No. 1, pp. 132-152
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Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
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Other versions of this item:
- Debelle, Guy & Lamont, Owen, 1997. "Relative Price Variability and Inflation: Evidence from U.S. Cities," Journal of Political Economy, University of Chicago Press, vol. 105(1), pages 132-52, February.
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- InflaciÃ³n y poder de mercado
by Luciano Cohan (Elemaco) in Economista Serial Crónico on 2011-01-24 21:09:00
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