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Title: Market Structure, Inflation, and Price Dispersion
Authors: Caglayan, Mustafa
Filiztekin, Alpay
Rauh, Michael T.
First Published: Feb-2004
Publisher: Dept. of Economics, University of Leicester
Abstract: In this paper, we investigate the impact of market structure on the relationship between inflation and price dispersion. We first propose a new empirical model of the relationship between inflation and dispersion with firmer theoretical foundations, and then extend the basic model to incorporate the potential effects of market structure. We estimate the basic and market structure specifications using a unique micro-level data set from Istanbul, which consists of monthly price observations from three different store types: convenience stores, open-air markets, and supermarkets. Our empirical findings support almost all of the basic and market structure predictions.
Series/Report no.: Papers in Economics
Type: Report
Appears in Collections:Reports, Dept. of Economics

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