Autori: Fielding, David , Mizen, Paul
Titolo: The relationship between price dispersion and inflation: a reassessment
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 2001 - Fascicolo: 10 - Pagina iniziale: 1 - Pagina finale: 31

The positive relationship between inflation and relative price variability has been taken as a proven case, but recent evidence casts doubt on the verdict. This paper shows that theory support positive or negative relationships, while past empirical evidence may have been contaminated by aggregation bias and our measures of price dispersion and inflation. WE re-examine the empirical evidence for ten years of data over nine commodity groups and seven european countries using a non-parametric approach to estimate the functional form. Our results suggest that the results offer strong support for the model of Danziger (1987) which predicts a nonlinear functional form for within-commodity across-countries data.


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