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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17904| Title: | Inflation and the Skewness of the Distribution of Relative Price Changes: Empirical Evidence for Germany |
| Keywords: | E31 ddc:330 inflation relative prices distribution of relative prices changes Inflationsrate Relativer Preis Inflation Statistische Verteilung Schätzung Phillips-Kurve Konjunktur Gesamtwirtschaftliches Angebot Schock Deutschland |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Kiel Institute for the World Economy (IfW) Kiel |
| Description: | The present paper uses German annual data covering the period 1969-2000 to present evidence on the link between aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm predictions of contributions to the theoretical literature suggesting that skewness of this distribution is an important explanatory variable for the inflation rate. Further, the skewness measure also helps to explain shifts in the Phillips curve. Moreover, a structural vector autoregression reveals that the skewness measure helps to explain the variations of real output and might, therefore, serve as a measure of supply side shocks hitting the economy. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/17904 |
| Other Identifiers: | http://hdl.handle.net/10419/17904 ppn:332497216 |
| Appears in Collections: | EconStor |
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