Showing 1 - 10 of 404
The real exchange rate (RER) has been called the single most important price, yet its behavior exhibits several puzzles. In this project, we use Big Mac prices as a unique prism to study the movement of real exchange rates. Part of our innovation is to match these prices to the prices of...
Persistent link: https://www.econbiz.de/10013219993
We study a newly constructed panel data set of relative prices of a large number of consumer goods among 31 European countries. We find that there is a substantial and non-diminishing deviation from PPP at all levels of aggregation, even among eurozone members. However, real exchange rates are...
Persistent link: https://www.econbiz.de/10013147608
survey-based experiment obtained during a period of government manipulation of inflation statistics in Argentina (2006 … inflation expectations in less extreme contexts than Argentina, such as the United States and Europe, where experts may agree …
Persistent link: https://www.econbiz.de/10012996463
large devaluation episodes: Argentina (2001), Brazil (1999), Korea (1997), Mexico (1994), and Thailand (1997). We conduct a … detailed analysis of the Argentina case using disaggregated CPI data, data from our own survey of prices in Buenos Aires, and …
Persistent link: https://www.econbiz.de/10013220091
exchange-rate-based-stabilizations. We use data for the U.S. and Argentina to document the importance of distribution margins … in retail prices and disaggregated price data to study price dynamics in the aftermath of Argentina's 1991 Convertibility …
Persistent link: https://www.econbiz.de/10013221936
We offer an alternative explanation for the fall of Argentina's Convertibility Program based on the country … prices is larger the more closed an economy is in terms of its supply of tradable goods. By contrasting Argentina … of 1998, we identify key vulnerability indicators that separated Argentina from its piers. We also provide an explanation …
Persistent link: https://www.econbiz.de/10013228964
We document the consequences of real exchange rate movements for the employment, hours, and hourly earnings of workers in manufacturing industries across individual states. Exchange rates have statistically significant wage and employment implications in these local labor markets. The importance...
Persistent link: https://www.econbiz.de/10014193865
Social Security is widely believed to protect its recipients from inflation because benefits are indexed to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). However, the CPI-W may not accurately reflect the experience of retirees for two reasons. First, retirees...
Persistent link: https://www.econbiz.de/10013139899
We use a unique panel of retail prices spanning 123 cities in 79 countries from 1990 to 2005, to uncover six novel properties of long-run international price dispersion. First, at the PPP level, virtually all (91.6%) of price dispersion is attributed to service-sector wages, consistent with a...
Persistent link: https://www.econbiz.de/10013086670
This study investigates the effects of simulating the Consumer Price Index (CPI) with alternately sourced weights on the inflation experience for an average US consumer. The Bureau of Labor Statistics currently uses household spending data from the Consumer Expenditure Survey (CE) to construct...
Persistent link: https://www.econbiz.de/10013073940