Skip to main content

The relevance of supply shocks for inflation: the spanish case

Buy Article:

$55.00 plus tax (Refund Policy)

Abstract:

The methodology applied in this article to the Spanish economy is based on Ball and Mankiw (1995). These authors assume that a good proxy for supply shocks is the third moment of the price changes distribution. The main data used are the monthly consumer price indexes of each region, disaggregated in 57 categories, for the 1993-2005 period. We estimate the relation between mean inflation and the higher moments of the distribution, including several control variables. Our results point out that Spanish regions show a common pattern with regard to nominal rigidities, and that Spanish inflation is vulnerable to supply shocks.

Document Type: Research Article

DOI: https://doi.org/10.1080/00036840601007443

Affiliations: 1: Departamento de Teoria Economica y Economia Politica, Universidad de Sevilla, Sevilla, Espana 2: Departamento de Economia, Metodos Cuantitativos e Historia Economica, Universidad Pablo de Olavide, Sevilla, Espana

Publication date: 2009-03-01

More about this publication?
  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
X
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more