Are Prices Countercyclical?

Are Prices Countercyclical?
This paper examines the comovement of prices with the cyclical component of output. It argues that determining the cyclical behavior of prices by applying the same stationarity-inducing transformation to the levels of both output and prices, and examining the correlations of the resulting series, can be misleading. A more appropriate procedure... READ MORE...

Publication date: October 1992
ISBN 9781451851076
$15.00

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