This paper studies two aspects of the behaviour of provincial relative prices in Spain: the relevance and the nature of … half point per year in the long-run), but deviations of relative prices from equilibrium can be very persistent. …

The fiscal theory of the price level has challenged the conventional view that monetary factors drive prices and …

This paper quantifies the effects of drug monopolies and low per-capita income on pharmaceutical prices in developing …

in option prices. Consumption and dividends remain smooth, and the model is consistent with salient features of …

Conventional wisdom suggests that producer prices are more rigid than consumer prices and therefore play less of a role … for the producer price index, we find that producer prices for finished goods and services in fact exhibit roughly the … same rigidity as consumer prices that include sales and substantially less rigidity than consumer prices that exclude them …

determining the response of aggregate variables to shocks at different frequencies: Sectors where prices are stickier are … allowing for this type of heterogeneity is critically important to understanding the joint dynamics of output and prices, and …