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The Evolution of Price Dispersion in the European Car Market
Goldberg, Pinelopi; Verboven, Frank - 2021
Car prices in Europe are characterized by large and persistent differences across countries. The purpose of this paper is to document and explain this price dispersion. Using a panel data set extending from 1980 to 1993, we first demonstrate two main facts concerning car prices in Europe: (1)...
Persistent link: https://www.econbiz.de/10013246653
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Volatility and Pass-Through
Berger, David - 2013
What drives countercyclical volatility? A large literature has documented that many economic variables are more disperse in recessions, but this could either occur because shocks get bigger or because firms respond more to shocks which are the same size. Existing evidence that the dispersion of...
Persistent link: https://www.econbiz.de/10013072777
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Exchange-Rate Pass-Through to Import Prices in the Euro Area
Campa, José Manuel - 2009
This paper presents an empirical analysis of transmission rates from exchange rate movements to import prices, across countries and product categories, in the euro area over the last fifteen years. Our results show that the transmission of exchange rate changes to import prices in the short run...
Persistent link: https://www.econbiz.de/10012767524
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Price Setting in Online Markets : Basic Facts, International Comparisons, and Cross-Border Integration
Gorodnichenko, Yuriy - 2014
We document basic facts about prices in online markets in the U.S. and Canada, a rapidly growing segment of the retail sector. Relative to prices in regular stores, prices in online markets are more flexible as well as exhibit stronger pass-through (60-75 percent) and faster convergence...
Persistent link: https://www.econbiz.de/10013048594
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Exchange Rate Pass-Through into Import Prices : A Macro or Micro Phenomenon?
Campa, José Manuel; Goldberg, Linda S. - 2021
imported goods. Higher inflation and exchange rate volatility are weakly associated with higher pass-through of exchange rates …
Persistent link: https://www.econbiz.de/10013225806
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Globalization, Pass-Through and Inflation Dynamic
Benigno, Pierpaolo - 2010
An important aspect of the globalization process is the increase in interdependence among countries through the deepening of trade linkages. This process should increase competition in each destination market and change the pricing behavior of firms. We present an extension of Dornbusch (1987)'s...
Persistent link: https://www.econbiz.de/10013146256
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The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates
Chinn, Menzie David - 2021
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivities are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...
Persistent link: https://www.econbiz.de/10013240954
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Prospects for Inflation in a High Pressure Economy : is the Phillips Curve Dead or is it Just Hibernating?
Hooper, Peter - 2019
in recent decades can be explained by the success that monetary policy has had in quelling inflation and anchoring … inflation expectations since the 1980s. We also review the experience of the 1960s, the last time inflation expectations became …
Persistent link: https://www.econbiz.de/10012871159
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A Phillips Curve for the Euro Area
Ball, Laurence - 2019
This paper asks whether a textbook Phillips curve can explain the behavior of core inflation in the euro area. A … critical feature of the analysis is that we measure core inflation with the weighted median of industry inflation rates, which … is less volatile than the common measure of inflation excluding food and energy prices. We find that fluctuations in core …
Persistent link: https://www.econbiz.de/10012859682
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Monetary Policy Surprises, Credit Costs and Economic Activity
Gertler, Mark - 2014
external instruments produce responses in output and inflation consistent with both textbook theory and conventional monetary …
Persistent link: https://www.econbiz.de/10013052498