I use a unique micro price data to estimate the pass-through from commodity prices to retail prices in several countries. The paper presents and develops a simple methodology to estimate the pass-through from the prices of different commodities into various sectors across several countries. This...

The standard deviations of capital flows to emerging countries are 80 percent higher than those to developed countries. First, we show that very little of this difference can be explained by more volatile fundamentals or by higher sensitivity to fundamentals. Second, we show that most of the...