inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random … during both the inflation and deflation periods, and the parameter on the second moment changes sign in the deflation period …

inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random cross … both the inflation and deflation periods, and the parameter on the second moment changes sign in the deflation period, as … the theory predicts. Keywords: inflation, deflation, menu costs, Hong Kong, Japan. …

aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm … explanatory variable for the inflation rate. Further, the skewness measure also helps to explain shifts in the Phillips curve …

Distortionary effects of inflation on relative prices are the main argument for inflation stabilization in macro models … with sticky prices. Under indexation of non-optimized prices those models imply a nonlinear and dynamic impact of inflation … generalized form of) the theoretical relationship between inflation and RPV. We confirm the impact of inflation fluctuations but …

In recent macroeconomic theory, relative price variability (RPV) generates the central distortions of inflation. This … paper provides first evidence on the empirical relation between inflation and RPV in the euro area focusing on threshold … effects of inflation. We find that expected inflation significantly increases RPV if inflation is either very low (below -1 …