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dc.contributor.authorBecker, Saschaen
dc.date.accessioned2011-03-24-
dc.date.accessioned2012-04-05T16:21:22Z-
dc.date.available2012-04-05T16:21:22Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/56736-
dc.description.abstractRecent monetary search and Calvo-type models predict that the relationship between inflation and price dispersion is U-shaped, implying an optimal rate of inflation above zero. Moreover, monetary search models emphasize a critical dependence of the real effects of inflation on sellers' market power, whereas Calvotype models suggest that the degree of price rigidity significantly affects the inflation - price dispersion nexus. Using a new set of highly disaggregated sectoral price data from a panel of European countries, this paper contributes to the literature by testing the empirical relevance of these two theoretical predictions. In line with monetary search theory, a U-shaped profile is found, provided that markups are sufficiently high, but the relationship breaks down under a more competitive environment. Contrarily, no evidence is found to support the contentions of Calvo-type models: U-shaped effects of inflation occur in product sectors with sticky as well as highly flexible prices.en
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Collaborative Research Center 649 - Economic Risk |cBerlinen
dc.relation.ispartofseries|aSFB 649 Discussion Paper |x2011-019en
dc.subject.jelC23en
dc.subject.jelD40en
dc.subject.jelE31en
dc.subject.jelF15en
dc.subject.ddc330en
dc.subject.keywordinflationen
dc.subject.keywordrelative price variabilityen
dc.subject.keywordprice level indexen
dc.subject.keywordEuro-areaen
dc.subject.keywordmarket structureen
dc.subject.keywordmonetary search modelen
dc.subject.keyworddynamic panel data modelsen
dc.subject.stwTaxigewerbeen
dc.subject.stwBetrugen
dc.subject.stwVertrauensgüteren
dc.subject.stwAsymmetrische Informationen
dc.subject.stwFeldforschungen
dc.subject.stwAthenen
dc.titleWhat drives the relationship between inflation and price dispersion? Market power vs. price rigidity-
dc.typeWorking Paperen
dc.identifier.ppn654797668en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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