Relative price variability and inflation: New evidence

dc.authorid0000-0003-1412-4488en_US
dc.contributor.authorBağlan, Deniz
dc.contributor.authorYazgan, Ege
dc.contributor.authorYılmazkuday, Hakan
dc.date.accessioned2021-06-16T10:52:10Z
dc.date.available2021-06-16T10:52:10Z
dc.date.issued2016-06
dc.description.abstractThis 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.fullTextLevelFull Texten_US
dc.identifier.doi10.1016/j.jmacro.2016.04.004en_US
dc.identifier.scopus2-s2.0-84967327675en_US
dc.identifier.urihttps://hdl.handle.net/11411/3797
dc.identifier.urihttps://doi.org/10.1016/j.jmacro.2016.04.004
dc.identifier.wosWOS:000393846500018en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.nationalInternationalen_US
dc.numberofauthors3en_US
dc.pages263-282en_US
dc.publisherElsevieren_US
dc.relation.ispartofJournal of Macroeconomicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectRelative price variabilityen_US
dc.subjectInflationen_US
dc.subjectCalvo pricingen_US
dc.subjectMenu costsen_US
dc.titleRelative price variability and inflation: New evidenceen_US
dc.typeArticleen_US
dc.volume48en_US

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