Korea Rural Economic Institue

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영문 제목: Inflation and Intramarket Price Variability: Empirical Evidence from U.S. Food Products

초록: The objective of this paper is to examine the response of relative price variability on U.S. food markets to food price inflation to identify whether such inflation influences the structure of relative prices between different food products. Results show that changes in food price inflation rate have a strong positive effect on the structure of relative prices across food products. In addition, the expected rate of inflation is found to be more important than the unexpected components as a determinant of relative price variability.

The objective of this paper is to examine the response of relative price variability on U.S. food markets to food price inflation to identify whether such inflation influences the structure of relative prices between different food products. Results show that changes in food price inflation rate have a strong positive effect on the structure of relative prices across food products. In addition, the expected rate of inflation is found to be more important than the unexpected components as a determinant of relative price variability.

목차: 1. Introduction
2. The theoretical consideration on relative price variability
3. Measurement of relative price variability and data
4. Empirical methods and results
5. Concluding remarks

1. Introduction
2. The theoretical consideration on relative price variability
3. Measurement of relative price variability and data
4. Empirical methods and results
5. Concluding remarks

주제어: food products; inflation; intermarket price variability; intramarket price variability; food products; inflation; intermarket price variability; intramarket price variability