Median Price Changes: An Alternative Approach to Measuring Current Monetary Inflation
Price movements are the channel through which market information is transmitted. An increase in one price relative to others is the signal that directs resources and rations consumption. In other words, markets operate through the distribution of prices.
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Bryan, Michael F., and Christopher Pike. 1991. “Median Price Changes: An Alternative Approach to Measuring Current Monetary Inflation.” Federal Reserve Bank of Cleveland, Economic Commentary 12/1/1991. https://doi.org/10.26509/frbc-ec-19911201