The paper uses disaggregated price data to determine whether the higher moments of the distribution of relative price changes provide information on the adjustments and persistence of aggregate price conditions in the Philippines. It takes into account the changes that occurred in relative price...

This paper examines the role of aggregate productivity and money supply shocks in determining the relationship between inflation and the distribution of relative commodity prices. I estimate a restricted VAR that includes aggregate variables and individual commodity prices, and compute the...

This paper examines the role of aggregate productivity and money supply shocks in determining the relationship between inflation and the distribution of relative commodity prices. I estimate a restricted VAR that includes aggregate variables and individual commodity prices, and compute the...