The contribution of food and energy price shocks to relative price variability |
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Authors: | Scott Bloom Ronald A Ratti |
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Institution: | University of Missouri, Columbia, MO 65211, USA |
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Abstract: | Food and energy shocks are shown to be significant sources of variation in relative prices of personal consumption expenditures during 1931–1980. This conclusion follows even after recognizing the impact of other shocks based on exports, government spending, money supply, and numbers of military personnel. |
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