Since 2014
Inflation and the Informativeness of Prices: Microeconomic Evidence from High Inflation
Brazilian Review of Econometrics
View Archive Info| Field | Value | |
| Title |
Inflation and the Informativeness of Prices: Microeconomic Evidence from High Inflation
Inflation and the Informativeness of Prices: Microeconomic Evidence from High Inflation |
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| Creator |
Tommasi, Mariano; universidad de San Andrés, Vito Dumas 284, 1644 Victoria, Buenos Aires, Argentina.
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| Subject |
Inflation, informativeness, pricing rnles, forecasting
D4, D83, E31, L16 Inflation, informativeness, pricing rnles, forecasting D4, D83, E31, L16 |
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| Description |
I study the effect of inflation on the ability of economic agents to forecast real prices, using microeconomic data from Argentina 1990-1992. The evidence favors the view that inflation degrades the informational content of real prices. Several rules for forecasting real prices are shown to perform worst at higher iuflation. Also, at high inflation, real prices have shorter durations, and mark-down sales disappear. This snggests that inflation (at least high inflation) has "Industrial Organization" effects usually ignored in macroeconomic assessments of the effects of inflation.
O texto analisa as efeitos da inflação sobre a capacidade dos agentes preverem preços reais, utilizando dados microeconômicos para a Argentina no período 1990- 1992. A evidência sugere que a inflação degrada o conteúdo informacional dos preços reais. Mostra-se que a performance de diversas regras de previsao de preço reais piora quando a inflação aumenta. Além disso, os preços reais mudam com mais frequência e as liquidações desaparecem. Isso sugere que a inflação (pelo menos a inflação elevada) acarreta efeitos de "Organização Industrial" comumente ignorados em avaliações macroeconômicas dos efeitos da inflação. |
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| Publisher |
Sociedade Brasileira de Econometria
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| Date |
1996-11-02
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
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| Identifier |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/2875
10.12660/bre.v16n21996.2875 |
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| Source |
Brazilian Review of Econometrics; Vol 16, No 2 (1996); 37–75
Brazilian Review of Econometrics; Vol 16, No 2 (1996); 37–75 1980-2447 |
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| Language |
eng
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| Relation |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/2875/1794
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