Inflation and Relative Price Variability: Parks' Study Reexamined
重新检验了Parks（1978）关于美国通胀率与相对价格变动性相关性的经典证据，发现该相关性依赖于1974年和1980年两个石油价格冲击年份，并指出冲击通过适应性货币政策影响相对价格和通胀。
The authors show that Richard W. Parks' (1978) widely cited evidence on the correlation between the rate of inflation and the variability of relative prices in the United States during 1948-75 depends on one observation, 1974. When the sample period is extended through 1989, the correlation depends on the observations for 1974 and 1980. Since both are years of large oil price shocks, the authors make the case that causation is likely to run from these shocks to relative price variability and inflation with accommodating monetary policy playing a role. Copyright 1993 by Ohio State University Press.