This paper quantifies the effects of drug monopolies and low per-capita income on pharmaceutical prices in developing …

shocks driving the economy and the systematic response of monetary policy to inflation: More flexible prices amplify the … shocks, ask: Would the U.S. economy have been more or less stable had prices been more flexible than historically? Our main …

Conventional wisdom suggests that producer prices are more rigid than consumer prices and therefore play less of a role … for the producer price index, we find that producer prices for finished goods and services in fact exhibit roughly the … same rigidity as consumer prices that include sales and substantially less rigidity than consumer prices that exclude them …

determining the response of aggregate variables to shocks at different frequencies: Sectors where prices are stickier are … allowing for this type of heterogeneity is critically important to understanding the joint dynamics of output and prices, and …

inflation. The Michigan Survey of Consumers uses questions about "prices in general" to measure expected and perceived inflation … specific prices when being asked about "prices in general." Here, we randomly assigned respondents to questions about "prices … and more dispersed for "prices in general" than for "the rate of inflation," with "prices you pay" and "prices in general …

Border prices of traded goods are highly sensitive to exchange rates; however, the consumer price index (CPI) and the … retail prices of goods that make up the CPI are more stable. This paper decomposes the sources of this price stability for … distribution margins and imported inputs in transmitting exchange rate fluctuations into consumption prices. We provide rich cross …

competitive general equilibrium where goods prices, technology and factor supplies jointly determine outputs and factor prices. We …, prices, and factor supplies. The model is based on the neoclassical theory of production, and is implemented by assuming that … GDP is a function of prices, technology levels, and supplies of capital and different types of labor. We treat final goods …

traded-goods prices exhibit significant inertia in the face of shocks such as exchange rate changes. This paper uses a … wholesale prices for UPC (Universal Product Code)-level products. Markup adjustments by manufacturers and the retailer explain …

exchange rate movements and import prices. Recent debates hinge on whether producer-currency-pricing (PCP) or local currency … into import prices. However, for OECD countries, the most important determinants of changes in pass-through over time are …