Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If you need an accessible version of this item please contact JSTOR User Support

Inflation and the Distribution of Relative Prices: The Role of Productivity and Money Supply Shocks

William D. Lastrapes
Journal of Money, Credit and Banking
Vol. 38, No. 8 (Dec., 2006), pp. 2159-2198
Stable URL: http://www.jstor.org/stable/4123047
Page Count: 40
  • More info
  • Cite this Item
If you need an accessible version of this item please contact JSTOR User Support
Inflation and the Distribution of Relative Prices: The Role of Productivity and Money Supply Shocks
Preview not available

Abstract

This paper examines the role of aggregate productivity and money supply shocks in determining the relationship between inflation and the distribution of relative commodity prices. I estimate a restricted VAR that includes aggregate variables and individual commodity prices and compute the cross-sectional distribution of the dynamic responses of commodity prices to these aggregate shocks. The findings indicate that both shocks lead to positive correlation between inflation and the dispersion of relative prices and that the response of prices across commodities is not uniform, even in the long run.

Page Thumbnails

  • Thumbnail: Page 
[2159]
    [2159]
  • Thumbnail: Page 
2160
    2160
  • Thumbnail: Page 
2161
    2161
  • Thumbnail: Page 
2162
    2162
  • Thumbnail: Page 
2163
    2163
  • Thumbnail: Page 
2164
    2164
  • Thumbnail: Page 
2165
    2165
  • Thumbnail: Page 
2166
    2166
  • Thumbnail: Page 
2167
    2167
  • Thumbnail: Page 
2168
    2168
  • Thumbnail: Page 
2169
    2169
  • Thumbnail: Page 
[2170]
    [2170]
  • Thumbnail: Page 
2171
    2171
  • Thumbnail: Page 
[2172]
    [2172]
  • Thumbnail: Page 
[2173]
    [2173]
  • Thumbnail: Page 
2174
    2174
  • Thumbnail: Page 
[2175]
    [2175]
  • Thumbnail: Page 
2176
    2176
  • Thumbnail: Page 
2177
    2177
  • Thumbnail: Page 
[2178]
    [2178]
  • Thumbnail: Page 
[2179]
    [2179]
  • Thumbnail: Page 
[2180]
    [2180]
  • Thumbnail: Page 
[2181]
    [2181]
  • Thumbnail: Page 
[2182]
    [2182]
  • Thumbnail: Page 
2183
    2183
  • Thumbnail: Page 
2184
    2184
  • Thumbnail: Page 
2185
    2185
  • Thumbnail: Page 
2186
    2186
  • Thumbnail: Page 
[2187]
    [2187]
  • Thumbnail: Page 
[2188]
    [2188]
  • Thumbnail: Page 
2189
    2189
  • Thumbnail: Page 
2190
    2190
  • Thumbnail: Page 
2191
    2191
  • Thumbnail: Page 
2192
    2192
  • Thumbnail: Page 
2193
    2193
  • Thumbnail: Page 
2194
    2194
  • Thumbnail: Page 
2195
    2195
  • Thumbnail: Page 
2196
    2196
  • Thumbnail: Page 
2197
    2197
  • Thumbnail: Page 
2198
    2198