through the effects that monetary policy has on short and long term nominal interest rates, asset prices, exchange rates, bank …

high oil prices. Executive Directors commended the Federal Reserve for its monetary tightening. They recognized that the …

Models with sticky prices predict that monetary policy changes will affect relative prices and relative quantities in … the short run because some prices are more flexible than others. In U.S. micro data, the degree of price stickiness … not. Short-run responses of relative prices have the wrong sign. And monetary policy shocks seem to have persistent …

This paper estimates monthly pass-through ratios from import prices to consumer prices in real time. Conventional time … series methods impose restrictions to generate exogenous shocks on exchange rates or import prices when estimating pass …-through coefficients. Instead, a natural experiment based on data releases defines our shock to foreign prices. Our estimation strategy …