The relevance of supply shocks for inflation: the spanish case

M. Ángeles Caraballo · Carlos Usabiaga

9 citations0/0 files storedApplied Economics

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Monetary Policy and Economic Impact Economics of Agriculture and Food Markets Market Dynamics and Volatility

Abstract

The methodology applied in this article to the Spanish economy is based on Ball and Mankiw (1995 Ball, L and Mankiw, NG. 1995. Relative-price changes as aggregate supply shocks. Quarterly Journal of Economics, 110: 161–93. [Crossref], [Web of Science ®] , [Google Scholar]). 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.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 9 citations exist upstream.

References

2021Econometric Analysis of Panel Data 2002Unit root tests in panel data: asymptotic and finite-sample properties 1997Postwar U.S. Business Cycles: An Empirical Investigation 1995The Role of Monetary Policy 2004The local power of some unit root tests for panel data 1981Estimation of Dynamic Models with Error Components 2019Problems and Perspectives in Management 1981Post-War U.S. Business Cycles: An Empirical Investigation

Imported from OpenAlex (CC0) — nothing here is generated.