HCBE Faculty Articles

Title

Metropolitan Inflation in the United States 1961–1978

Document Type

Article

Date

1981

Publication Title

The Annals of Regional Science

ISSN or ISBN

0570-1864

Volume

15

Issue

1

First Page

53

Last Page

65

Description

This paper examines the rate of price inflation in twenty-two U.S. metropolitan areas over the 1961–1978 time period. A Phillips-Lipsey model containing specifications for unemployment, expected inflation, and imported inflation is evaluated for each region. The data are examined cross-sectionally as well as serially and little evidence is found to contradict the hypothesis that the rate of price inflation observed in U.S. metropolitan areas is the national rate. Local unemployment and expectations are generally insignificant explanators. A statistical problem associated with the use of the lagged dependent variable in a cross section regression is also discussed.

DOI

10.1007/BF01287304

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