This paper examines the impact of a monetary policy shock on output, prices, and the nominal effective exchange rate … main results suggest that an exogenous increase in the short-term interest rate tends to be followed by a decline in prices … variations in the short-term interest rate account for significant fluctuations in the nominal exchange rate and prices, while …

Recent turmoil in financial and commodities markets has renewed questions regarding how well markets discover … equilibrium prices, particularly when those markets are highly complex. A relatively new critique questions whether markets can … realistically find equilibrium prices if computers cannot. For instance, in a simple exchange economy with Leontief preferences, the …

to increase users' participation by setting prices at both sides of the market such that the total price is below …

This paper uses a two-sector model to estimate the relationship between prices, money, and the exchange rate in … monetary aggregates, domestic prices, real income, and foreign interest rates. In addition, the error-correction model shows …

-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary …