We show that house prices may be driven entirely by the demands of one identifiable group for several years and then by … demands of another group at other times. We present evidence that house prices in Hawaii were subject to such regime shifts …. Prices responded to demands associated with American income and wealth for most years from 1975 through 2008. From the middle …

Data on international relative prices from industrialized countries show large and systematic deviations from relative … international relative prices. We find that when our model is parameterized to match salient features of the data on international …

productivity" channel. The relative price channel results from changes in the relative prices of aggregates, such as investment vis …

.S. dollar and the British pound on announcement days, while commodity prices generally declined despite this more stimulative … triggering a decline in commodity prices. Moreover, our analysis illustrates the importance of controlling for market … expectations when assessing these effects. We find that positive U.S. monetary surprises led to declines in commodity prices, even …

findings of excess sensitivity of consumption and asset prices to new information. …

This paper examines the prices for communications equipment, an important component of information technology. Unlike … prices for computers which officially fall sharply every year, the official prices for communications equipment have barely … budged over the past decade. This paper combines earlier work on prices for several segments of communications equipment with …

-founded dynamic general equilibrium (DGE) model of the U.S. economy with sticky wages and sticky prices using impulse responses to … permanent technology shock, implying that, on average, prices adjust quickly and that there is little evidence for any intrinsic …