Rassekh, Farhad; Ranjbar, Omid - In: International Economic Journal 28 (2014) 1, pp. 183-190
This paper employs a reduced form structuralist model of inflation in the OECD over the period 1985--2009 to find out whether domestic prices respond symmetrically to rising and falling import prices. We find that the response is asymmetrical: domestic prices rise when import prices rise but...