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Relative Prices and Inflation: New Evidence from Different Inflationary Contexts

[Zeitschriftenartikel]

Caraballo, Mª Angeles; Dabús, Carlos Darío; Caraballo, Mª Angeles

Zitationshinweis

Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-239067

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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 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
Sprache Dokument Englisch
Publikationsjahr 2006
Seitenangabe S. 1931-1944
Zeitschriftentitel Applied Economics, 38 (2006) 16
DOI http://dx.doi.org/10.1080/00036840500427171
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
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