Menu Costs, Relative Prices, and Inflation: Evidence for Canada

The relevance of supply shocks for inflation: the spanish case

“…On one hand, for F o r P e e r R e v i e w 2 periods with an annual inflation rate lower than 4%-5%, the inflation-skewness relation is stronger than the inflation-RPV one -see Ball and Mankiw (1995) for the US, Lourenco and Gruen (1995) for Australia, Amano and Macklem (1997) for Canada, Aucremanne et al (2002) for Belgium and Caraballo and Usabiaga (2004a,b) for Spain, among others. Moreover, for some high inflation countries there is evidence of a positive association between inflation and skewness, as Raftai (2004) shows for Hungary in a period with an annual inflation rate ranging from 15% to 30%.…”

Interpreting the Correlation Between Inflation and the Skewness of Relative Prices: A Comment on Bryan and Cecchetti

“…But the inflationskewness correlation is not just a result of oil-shock years. This fact holds for many time periods and many countries (e.g., Vining & Elwertowski (1976) and Ball & Mankiw (1995) for the United States; Amano & Macklem (1997) for Canada; De Abreu Lourenco and Gruen (1995) for Australia). Bryan and Cecchetti (1999) argue that this fact ''need not be a fact at all,'' because of ''small-sample bias.''…”

Relative prices and inflation: new evidence from different inflationary contexts

“…A number of authors have found evidence supporting a positive correlation between intramarket RPV and inflation: Domberger (1987) for the United Kingdom, Lach and Tsiddon (1992) for Israel, Amano and Macklem (1997) for Canada, and Parsley (1996) for some cities of United States (US).…”