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purposes of price measurement. For business-to-business transactions, these shifts can cause sourcing substitution bias in the … Producer Price Index (PPI) and the Import Price Index (MPI), as well as potentially in the proposed new true Input Price Index … sales or among retailers charging different per unit prices, this can cause a promotions bias problem in the Consumer Price …
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strategic complementarities in the price-setting process. The authors clarify how the choice of monetary policy instrument …
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Currently there is a growing literature exploring the features of optimal monetary policy in New Keynesian models under both commitment and discretion. With respect to time consistent policy, the literature focuses on solving for allocations. Recently, however, King and Wolman (2004) have...
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