Análisis de la estructura de la inflación de las regiones españolas: La metodología de Ball y Mankiw
In this paper we analyze the incidence of the distribution of price changes on the inflation rate of Spanish regions (1994-2001). Especially, we pay attention to the role of variability and skewness. The methodology applied is based on the menu cost models developed by Ball and Mankiw. In general, we conclude that the behaviour of the regions is very homogeneous with respect to the "structure" of inflation. The significance of variability and skewness also shows the vulnerability of inflation to relative price shocks.
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- Laurence Ball & N. Gregory Mankiw, 1992.
"Asymmetric Price Adjustment and Economic Fluctuations,"
NBER Working Papers
4089, National Bureau of Economic Research, Inc.
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9911, Banco de España;Working Papers Homepage.
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- Prakash Loungani & Phillip Swagel, 1995. "Supply-side sources of inflation: evidence from OECD countries," International Finance Discussion Papers 515, Board of Governors of the Federal Reserve System (U.S.).
- Simon Hall & Anthony Yates, 1998. "Are there downward nominal rigidities in product markets?," Bank of England working papers 80, Bank of England.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
- Stanley Fischer, 1981. "Relative Shocks, Relative Price Variability, and Inflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 12(2), pages 381-442.
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