We argue that relative price changes are a key component of the Phillips curve relationship between inflation and output. Building on work by Ball and Mankiw, we propose including measures of the variances and skewness of relative price adjustment in an otherwise standard model of the Phillips...

In recent years there have been many studies that explore the impact of public capital formation on economic growth at regional level, because public capital might give rise to reducing regional disparities across regions. Regarding Turkey, investigating the effects of public capital on economic...

This paper investigates distribution of inflation items using various measures of skewness and kurtosis for Turkey covering the period 1996-2007. Considering sensitivity of traditional distribution measures to outlying observations robust skewness and kurtosis are also computed as a novelty....