Asymétrie des inflations relatives et "menus costs". Tests sur l'inflation française

Xavier Bonnet, Éric Dubois and Laurent Fauvet

Revue Économique, 1999, vol. 50, issue 3, 547-556

Abstract: [eng] The existence of menu costs at firm level must lead at macroeconomic level to a positive correlation between inflation and the skewness of the distribution of relative prices. For French data, this prediction turns true. The positive correlation which appears between inflation and skewness of the distribution of relative prices resists the introduction of variables which are important explanatory factors of inflation according to the results of the estimation of wage-price spirals on French data. We show, however, that in accordance with the results obtained for American data, this positive correlation can also be obtained in a model without menu costs, when one takes into account the fact that the tail of the price distribution is generally fatter than the normal one. [fre] Asymmetry in relative-price inflation and menu costs: tests on french data. . The existence of menu costs at firm level must lead at macroeconomic level to a positive correlation between inflation and the skewness of the distribution of relative prices. For French data, this prediction turns true. The positive correlation which appears between inflation and skewness of the distribution of relative prices resists the introduction of variables which are important explanatory factors of inflation according to the results of the estimation of wage-price spirals on French data. We show, however, that in accordance with the results obtained for American data, this positive correlation can also be obtained in a model without menu costs, when one takes into account the fact that the tail of the price distribution is generally fatter than the normal one.

Date: 1999
Note: DOI:10.3406/reco.1999.410099
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.3406/reco.1999.410099 (text/html)
https://www.persee.fr/doc/reco_0035-2764_1999_num_50_3_410099 (text/html)
Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prs:reveco:reco_0035-2764_1999_num_50_3_410099

Access Statistics for this article

Revue Économique is currently edited by Presses de Sciences-Po

More articles in Revue Économique from Programme National Persée
Bibliographic data for series maintained by Equipe PERSEE ().