Hajzler, Christopher; Fielding, David - In: Economics Letters 123 (2014) 1, pp. 17-22
There is a large empirical literature on the effect of aggregate inflation on both price-level dispersion (relative … price variability, RPV) and inflation rate dispersion (relative inflation variability, RIV) across goods or locations. Early … value of inflation shocks, RPV is a negative monotonic function of inflation shocks. We show that consumer search theory …