Inflation and Higher Moments of Relative Price Changes in Sweden

@inproceedings{Assarsson2003InflationAH,
  title={Inflation and Higher Moments of Relative Price Changes in Sweden},
  author={Bengt Assarsson},
  year={2003}
}
This paper analyses the relationship between inflation and relative prices in the Swedish economy. In particular, the relationship between inflation and the skewness of relative price changes is studied and Phillips or price curves are estimated for Swedish data in which skewness is incorporated as a proxy measure of nominal rigidity. This is an alternative to new Keynesian Phillips curves in which forwardlooking firms base price decisions on future expected marginal cost. The empirical results… CONTINUE READING

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