integration and price convergence in international markets. Using a panel data set of car prices we examine how the process of … integration has affected cross-country price dispersion in Europe. We find surprisingly strong evidence of convergence towards …

In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent … study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …

constant markups. The differences are important quantitatively; price differences in Hungarian exports between Germany and the …

of both data and estimation. We find that expected risk-free rates vary dramatically over time, unlike short interest …

We propose that analysis of purchasing power parity (PPP) and the law of one price (LOOP) should explicitly take into … method to identify commodity points. Price adjustment is treated as a non-linear process, and a threshold autoregression (TAR … outside the thresholds might imply half-lives of price deviations measured in months rather than years, and the thresholds …