relative prices in microeconomic data. Error correction model estimates indicate that a different mix of shocks drives …, we find that micro relative prices exhibit every bit as much persistence as aggregate real exchange rates. These results … challenge theories of real exchange rate persistence based on sticky prices and heterogeneity across goods. © 2013 The President …

Prices of commodities including metals, energy, and food have been rising at double-digit rates in recent months. Some … to lower commodity prices even as long-term interest rates and the value of the dollar declined. …

.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 …

relative prices in microeconomic data is much faster. This paper finds that adjustment to the law of one price in disaggregated … qualitatively distinct process, working through adjustment in local-currency goods prices. These distinct adjustment dynamics appear … nesting aggregate and disaggregated relative prices permits identification of distinct macroeconomic and good-specific shocks …

This Economic Letter reports on recent research that analyzes trends in global prices over the past decade and a half … be the hike in oil prices in recent years, which has raised transportation costs. …