its higher order moments, and in particular, its third moment the skewness of the price change distribution. Evidence … independence of relative price changes and inflation that is assumed in neo- classical models. More recently, New Keynesian … macroeconomists have shown that the strong positive correlation between inflation and the skewness of the price change distribution is …

previous research has indicated. That is, seasonal price movements have become more prominent in the relatively stable … in prices differs greatly by item, making it difficult to generalize about seasonal price movements. A casual reading …