Fabiani, Silvia; Gattulli, Angela; Sabbatini, Roberto - In: Moneta e Credito 56 (2003) 223, pp. 325-358
endogenously generated by the presence of adjustment costs, when moderate inflation prevailed the asymmetric behaviour of prices … pronounced as average inflation declines. Consumer price changes in Italy in fact exhibit quite a pronounced positive asymmetry … moving from a high to a low inflation environment. On the basis of a Granger-causality analysis we show that, while the …