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Inflation and Relative Price Variability: Reinstating Parks' Results

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  • Jaramillo, Carlos Felipe

Abstract

This paper revisits Parks' seminal work on the time series relationship between inflation and relative price variability. The results reported show that a significant positive association is obtained allowing for an asymmetrical response of relative prices to episodes of positive and negative inflation. This finding is maintained after excluding oil shock years, extending Park's original sample to 1996, using an alternative data set and allowing for a higher degree of disaggregation.

Suggested Citation

  • Jaramillo, Carlos Felipe, 1999. "Inflation and Relative Price Variability: Reinstating Parks' Results," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 31(3), pages 375-385, August.
    • Handle: RePEc:mcb:jmoncb:v:31:y:1999:i:3:p:375-85
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