NDLI: Regional inflation dynamics using space

Content Provider	Springer Nature Link
Author	Marques, Helena Pi, Gabriel Dios Tena Horrillo, Juan
Copyright Year	2013
Abstract	This article provides empirical evidence of the role of spatial factors on the determination of inflation dynamics for a representative set of tradable commodities in Chile. We present a simple model that explains inflation divergence across regions in a monetary union with similar preferences as a consequence of the geographical allocation of producers in the different regions. Our results indicate that spatial allocation together with transport costs are important determinants of regional inflation, while macroeconomic common factors do not play an important role in this process. Existing literature had obtained the opposite result for Europe, and the reasons for this difference warrant further investigation. Moreover, we find that geographical distance seems to be a more appropriate measure of neighbourhood than the adjacency of regions. Our results are robust to different specifications, regression methods and product groupings.
Starting Page	1147
Ending Page	1172
Page Count	26
File Format	PDF
ISSN	03777332
Journal	Empirical Economics
Volume Number	47
Issue Number	3
e-ISSN	14358921
Language	English
Publisher	Springer Berlin Heidelberg
Publisher Date	2013-11-22
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Regional inflation dynamics Space–time models Common factors Chile Econometrics Statistics for Business/Economics/Mathematical Finance/Insurance Economic Theory
Content Type	Text
Resource Type	Article
Subject	Statistics and Probability Social Sciences Economics and Econometrics

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