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Relative Prices and Inflation: New Evidence from Different Inflationary Contexts
[Zeitschriftenartikel]
Abstract This paper analyzes the relationship between inflation and relative price variability, in the direction of the latter, in two countries with very different inflationary experiences: Argentina and Spain. To address this objective, using disaggregated price indexes (the Wholesale Price Index for Argen... mehr
This paper analyzes the relationship between inflation and relative price variability, in the direction of the latter, in two countries with very different inflationary experiences: Argentina and Spain. To address this objective, using disaggregated price indexes (the Wholesale Price Index for Argentina and the Consumer Price Index for Spain), we delimitate different inflationary regimes and compute a set of regressions for each country. Our results suggest evidence in favour of the non-neutrality of inflation (mostly in hyperinflation periods) and do not support either the menu costs or the signal extraction approaches. We also detect significant structural changes in the relationship depending on the inflationary regime... weniger
Sprache Dokument
Englisch
Publikationsjahr
2006
Seitenangabe
S. 1931-1944
Zeitschriftentitel
Applied Economics, 38 (2006) 16
DOI
https://doi.org/10.1080/00036840500427171
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)