Metropolitan Inflation in the United States 1961–1978
The Annals of Regional Science
ISSN or ISBN
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.
Stronge, William and Schultz, Ronald R., "Metropolitan Inflation in the United States 1961–1978" (1981). HCBE Faculty Articles. 823.