Inflation and the Skewness of the Distribution of Relative Price Changes: Empirical Evidence for Germany

Arbeitspapier

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.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Kiel Working Paper ; No. 1059

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Price Level; Inflation; Deflation
• Thema: inflation ; relative prices ; distribution of relative prices changes ; Inflationsrate ; Relativer Preis ; Inflation ; Statistische Verteilung ; Schätzung ; Phillips-Kurve ; Konjunktur ; Gesamtwirtschaftliches Angebot ; Schock ; Deutschland

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Döpke, Jörg ; Pierdzioch, Christian
• Ereignis: Veröffentlichung
• (wer): Kiel Institute of World Economics (IfW)
• (wo): Kiel
• (wann): 2001

Weitere Informationen

• Handle: http://hdl.handle.net/10419/17904
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ