Summary The paper uses German annual data covering the period 1969-2000 to present evidence on the link between aggregate inflation and the skewness of the distribution of relative price changes. Our empirical results are mixed. Our regression-based analyses suggest that the skewness of the...

Zusammenfassung Die vorliegende Arbeit untersucht mit saisonalen Einheitswurzel- und Kointegrationstests die westdeutschen Zeitreihen der privaten Konsumausgaben und des verfügbaren Einkommens in der Periode 1960-1993 sowie den Unterperioden 1960-1973 und 1974-1993. Die empirischen Ergebnisse...

Summary The paper presents stylized facts of Euroland’s business cycle using aggregated data. The main results are: The determination of turning points in Euroland’s business cycle is not very sensitive to the detrending method used, although the level of the recent output gap depends on it....