Nominal rigidities, skewness and inflation regimes

Autores
Caraballo Pou, M. Angeles; Dabús, Carlos Darío
Año de publicación
2008
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
The menu-cost model developed by Ball and Mankiw predicts that inflation is positively related to the skweness of the price changes distribution. We test this prediction in different inflatinary contexts: Spain (1975-2002) and Argentina (1960-1989). We find a positive inflation-skweness relationship in both countries at low inflation, even though the mean annual inflation rates were very different: 2% for Spain and 23% for Argentina. Therefore, the threshold of low inflation under which the menu cost model is situated is determinated endogenously, and it depends on the inflationary experience of each economy. In the higher inflation periods skweness is not significant. Finally, our results suggest that the menu-cost model is not situable beyond certain threshold of inflation.
Fil: Caraballo Pou, M. Angeles. Universidad de Sevilla; España
Fil: Dabús, Carlos Darío. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina
Materia
INFLATION REGIMES
NOMINAL RIGIDITIES
RELATIVE PRICE VARIABILITY
SKEWNESS
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/186373
Acceder
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network_name_str CONICET Digital (CONICET)
spelling Nominal rigidities, skewness and inflation regimesCaraballo Pou, M. AngelesDabús, Carlos DaríoINFLATION REGIMESNOMINAL RIGIDITIESRELATIVE PRICE VARIABILITYSKEWNESShttps://purl.org/becyt/ford/5.2https://purl.org/becyt/ford/5The menu-cost model developed by Ball and Mankiw predicts that inflation is positively related to the skweness of the price changes distribution. We test this prediction in different inflatinary contexts: Spain (1975-2002) and Argentina (1960-1989). We find a positive inflation-skweness relationship in both countries at low inflation, even though the mean annual inflation rates were very different: 2% for Spain and 23% for Argentina. Therefore, the threshold of low inflation under which the menu cost model is situated is determinated endogenously, and it depends on the inflationary experience of each economy. In the higher inflation periods skweness is not significant. Finally, our results suggest that the menu-cost model is not situable beyond certain threshold of inflation.Fil: Caraballo Pou, M. Angeles. Universidad de Sevilla; EspañaFil: Dabús, Carlos Darío. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; ArgentinaElsevier2008-03info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/186373Caraballo Pou, M. Angeles; Dabús, Carlos Darío; Nominal rigidities, skewness and inflation regimes; Elsevier; Research in Economics; 62; 1; 3-2008; 16-331090-9443CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/abs/pii/S1090944307000567info:eu-repo/semantics/altIdentifier/doi/10.1016/j.rie.2007.12.001info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-09-03T10:00:43Zoai:ri.conicet.gov.ar:11336/186373instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-09-03 10:00:43.487CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv Nominal rigidities, skewness and inflation regimes
title Nominal rigidities, skewness and inflation regimes
spellingShingle Nominal rigidities, skewness and inflation regimes
Caraballo Pou, M. Angeles
INFLATION REGIMES
NOMINAL RIGIDITIES
RELATIVE PRICE VARIABILITY
SKEWNESS
title_short Nominal rigidities, skewness and inflation regimes
title_full Nominal rigidities, skewness and inflation regimes
title_fullStr Nominal rigidities, skewness and inflation regimes
title_full_unstemmed Nominal rigidities, skewness and inflation regimes
title_sort Nominal rigidities, skewness and inflation regimes
dc.creator.none.fl_str_mv Caraballo Pou, M. Angeles
Dabús, Carlos Darío
author Caraballo Pou, M. Angeles
author_facet Caraballo Pou, M. Angeles
Dabús, Carlos Darío
author_role author
author2 Dabús, Carlos Darío
author2_role author
dc.subject.none.fl_str_mv INFLATION REGIMES
NOMINAL RIGIDITIES
RELATIVE PRICE VARIABILITY
SKEWNESS
topic INFLATION REGIMES
NOMINAL RIGIDITIES
RELATIVE PRICE VARIABILITY
SKEWNESS
purl_subject.fl_str_mv https://purl.org/becyt/ford/5.2
https://purl.org/becyt/ford/5
dc.description.none.fl_txt_mv The menu-cost model developed by Ball and Mankiw predicts that inflation is positively related to the skweness of the price changes distribution. We test this prediction in different inflatinary contexts: Spain (1975-2002) and Argentina (1960-1989). We find a positive inflation-skweness relationship in both countries at low inflation, even though the mean annual inflation rates were very different: 2% for Spain and 23% for Argentina. Therefore, the threshold of low inflation under which the menu cost model is situated is determinated endogenously, and it depends on the inflationary experience of each economy. In the higher inflation periods skweness is not significant. Finally, our results suggest that the menu-cost model is not situable beyond certain threshold of inflation.
Fil: Caraballo Pou, M. Angeles. Universidad de Sevilla; España
Fil: Dabús, Carlos Darío. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina
description The menu-cost model developed by Ball and Mankiw predicts that inflation is positively related to the skweness of the price changes distribution. We test this prediction in different inflatinary contexts: Spain (1975-2002) and Argentina (1960-1989). We find a positive inflation-skweness relationship in both countries at low inflation, even though the mean annual inflation rates were very different: 2% for Spain and 23% for Argentina. Therefore, the threshold of low inflation under which the menu cost model is situated is determinated endogenously, and it depends on the inflationary experience of each economy. In the higher inflation periods skweness is not significant. Finally, our results suggest that the menu-cost model is not situable beyond certain threshold of inflation.
publishDate 2008
dc.date.none.fl_str_mv 2008-03
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/186373
Caraballo Pou, M. Angeles; Dabús, Carlos Darío; Nominal rigidities, skewness and inflation regimes; Elsevier; Research in Economics; 62; 1; 3-2008; 16-33
1090-9443
CONICET Digital
CONICET
url http://hdl.handle.net/11336/186373
identifier_str_mv Caraballo Pou, M. Angeles; Dabús, Carlos Darío; Nominal rigidities, skewness and inflation regimes; Elsevier; Research in Economics; 62; 1; 3-2008; 16-33
1090-9443
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/abs/pii/S1090944307000567
info:eu-repo/semantics/altIdentifier/doi/10.1016/j.rie.2007.12.001
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
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score 13.13397

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