Relative price variability and inflation: New evidence
dc.authorid | 0000-0003-1412-4488 | en_US |
dc.contributor.author | Bağlan, Deniz | |
dc.contributor.author | Yazgan, Ege | |
dc.contributor.author | Yılmazkuday, Hakan | |
dc.date.accessioned | 2021-06-16T10:52:10Z | |
dc.date.available | 2021-06-16T10:52:10Z | |
dc.date.issued | 2016-06 | |
dc.description.abstract | This paper investigates the relationship between relative price variability (RPV) and inflation using monthly micro-price data for 128 goods in 13 Turkish regions/cities for the period 1994–2010. The unique feature of this data set is the inclusion of annual inflation rates ranging between 0% and 90%. Semi-parametric estimations show that there is a hump-shaped relationship between RPV and inflation, where the maximum RPV is achieved when annual inflation is approximately 20%. It is shown that this result is consistent with a region- or city-level homogenous menu cost model that features Calvo pricing with an endogenous contract structure and non-zero steady-state inflation. | en_US |
dc.fullTextLevel | Full Text | en_US |
dc.identifier.doi | 10.1016/j.jmacro.2016.04.004 | en_US |
dc.identifier.scopus | 2-s2.0-84967327675 | en_US |
dc.identifier.uri | https://hdl.handle.net/11411/3797 | |
dc.identifier.uri | https://doi.org/10.1016/j.jmacro.2016.04.004 | |
dc.identifier.wos | WOS:000393846500018 | en_US |
dc.identifier.wosquality | N/A | en_US |
dc.indekslendigikaynak | Web of Science | en_US |
dc.indekslendigikaynak | Scopus | en_US |
dc.language.iso | en | en_US |
dc.national | International | en_US |
dc.numberofauthors | 3 | en_US |
dc.pages | 263-282 | en_US |
dc.publisher | Elsevier | en_US |
dc.relation.ispartof | Journal of Macroeconomics | en_US |
dc.relation.publicationcategory | Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı | en_US |
dc.rights | info:eu-repo/semantics/openAccess | en_US |
dc.subject | Relative price variability | en_US |
dc.subject | Inflation | en_US |
dc.subject | Calvo pricing | en_US |
dc.subject | Menu costs | en_US |
dc.title | Relative price variability and inflation: New evidence | en_US |
dc.type | Article | en_US |
dc.volume | 48 | en_US |