This paper quantifies the effects of drug monopolies and low per-capita income on pharmaceutical prices in developing economies using the example of the antiretroviral drugs (ARVs) used to treat HIV.

We study the implications of increased price flexibility on aggregate output volatility in a dynamic stochastic general equilibrium (DSGE) model. First, using a simplified version of the model, we show analytically that the results depend on the shocks driving the economy and the systematic...

Remarks at the Buffalo-Niagara Partnership, Buffalo, New York .

Remarks at the Dutchess County Regional Chamber of Commerce, Fishkill, New York.

Remarks at the C. Peter McColough Series on International Economics, Council on Foreign Relations, New York City.

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

Remarks by President Dudley at the Brooklyn Chamber of Commerce Brooklyn Borough Hall, Brooklyn, New York.

Remarks at the Federal Reserve Bank of New York 2010 Regional Employment Press Briefing.

Remarks at the State University of New York at New Paltz, New Paltz, New York.

Conventional wisdom suggests that producer prices are more rigid than consumer prices and therefore play less of a role in the allocation of goods and services. Analyzing 1987-2008 microdata collected by the U.S. Bureau of Labor Statistics for the producer price index, we find that producer...