in the U.S. It is found that the price levels in these three economies are cointegrated. Thus, a vector error correction ….S. price shocks. The different responses to U.S. price shocks are consistent with the difference in exchange rate regimes …

The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate …. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price …

The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate …. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price …

The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate …. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price …

during alternative time periods. We find that the commodity price effect is non-uniform across countries and commodity … sectors, and moreover varies over time. The use of fixed weight price indexes, or nominal exchange rates and commodity prices …, also yields heterogeneous commodity price effects. Further, the pattern of commodity price effects is influenced by the …

, the adjusted data offer a weaker evidence on the cointegration relationship between a) the sectoral output indexes, b …