volatility are high, few imports are pre-bought, the price of imports is determined by the realized real exchange rate, and a … purchased in the spot market, the price of imports is determined by the realized real exchange rate, and the relative PPP holds …-buying imports, reducing thereby the frequency of pricing to market, increasing the expected relative price of imports, reducing the …

market structure in which pricing decisions incur costs. That lead producers to pre-set the price path for several periods … expectation equilibrium, characterized by staggered, unsynchronized price setting, for which the degree of staggering is …