Relative Price Variability and Inflation: Empirical Evidence from Turkey

Meral Karasulu

Istanbul Stock Exchange Review, 1998, vol. 2, issue 6, 1-26

Abstract: This paper presents empirical evidence on the relationship between inflation and relative price variability (RPV) using disaggregated store level price data for Istanbul, Izmir and Ankara for the 1991-1996 period. Both intermarket and intramarket dimensions of relative price variability are analyzed. Up to 95% of total variation in inflation rates is due to the within market variation of inflation. I find robust evidence for a positive correlation between inflation and relative price variability. For intermarket variation this relationship is strengthened by the skewness of relative price changes.

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:bor:iserev:v:2:y:1998:i:6:p:1-26

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