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The Relationship Between Macroeconomic Variables and Relative Price Variability in Greek Agriculture

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  • Ioanna Reziti

Abstract

The purpose of this paper is to present a measure of relative price variability (RPV) among 53 agricultural products and to explore the relationships between RPV, aggregate inflation rate, and changes in economic activity for the period 1962–1997. We also estimate the effects of expected and unexpected components of inflation on price variability. The results show that changes in inflation rate and economic activity have a strong positive effect on RPV, in addition, expected inflation is found to be an important determinant for explaining price variability. Copyright International Atlantic Economic Society 2005

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  • Ioanna Reziti, 2005. "The Relationship Between Macroeconomic Variables and Relative Price Variability in Greek Agriculture," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 11(1), pages 111-119, February.
    • Handle: RePEc:kap:iaecre:v:11:y:2005:i:1:p:111-119:10.1007/s11294-004-7494-9
    DOI: 10.1007/s11294-004-7494-9
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    More about this item

    Keywords

    E31; Q11;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices

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