Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 郑会荣教授 (金融学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1080/13504850110067441 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/6WOS source URL
其它资讯
摘要Bomberger and Makinen reported in 1993 that the significant positive relationship between relative price variability and the rate of inflation, documented by Parks in 1978 and by others, disappears when the oil-shock years 1974 and 1980 are excluded from the sample. Using a sample of yearly and monthly observations of both a 12-category group and a 202-category group of personal consumption expenditures, evidence is found that Bomberger and Makinen's finding is sensitive to the level of commodity aggregation and to sampling intervals. Specifically, Parks' results are reinstated when the supply shock years of 1974, 1980 and 1990 are eliminated from the annual and monthly samples. Allowing for asymmetrical responses of relative price variability to positive and negative inflation further strengthens the relation between relative price and inflation. The overall evidence renders strong support for the classic findings by Parks and is consistent with the hypothesis of downward price rigidity of some sectors in the economy.
着者Chang EC, Cheng JW
期刊名称APPLIED ECONOMICS LETTERS
出版年份2002
月份4
日期1
卷号9
期次5
出版社ROUTLEDGE
页次325 - 330
国际标準期刊号1350-4851
电子国际标準期刊号14http://aims.cuhk.edu.hk/converis/portal/Publication/6http://aims.cuhk.edu.hk/converis/portal/Publication/6-4291
语言英式英语
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
