Apart from occasional anecdotal observation, there has been little systematic study of the patterns of local inflation. The strongest theoretical argument is that local price inflation should be no different from national inflation. Alternatively, it has been suggested that spatial price equilibrium is implausible and that spatial price interdependence is more likely. Quarterly data for some sixteen large US urban areas over the period 1950 - 1980 are analyzed via stochastic time-series model...Expand abstract
- Publisher copy:
- Copyright date:
Does inflation vary between cities?
Views and Downloads
If you are the owner of this record, you can report an update to it here: Report update to this record