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| Tekijä: | Rogers, J. Wang, P. |
| Otsikko: | Sources of fluctuations in relative prices: evidence from high inflation countries |
| Lehti: | Review of Economics and Statistics
1993 : NOV, VOL. 75:4, p. 589-605 |
| Asiasana: | PRICES INFLATION SOFTWARE |
| Kieli: | eng |
| Tiivistelmä: | Casual analysis of six high-inflation episodes indicates a strong positive relationship between movements in the relative price ratio, measured by (WPI/CPI), and the inflation rate. The authors estimate a vector autoregression model in which relative price movements are driven by several fundamental disturbances (fiscal, monetary, output, and exchange rate), identified using only long-run restrictions based on a general-equilibrium optimizing model. |
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