We show that in both time-dependent and state-dependent sticky price models, prices of sticky price products (i.e. whose price changes rarely) contain more information about medium term inflation developments than those of flexible price products (i.e. whose price changes frequently). We do this...

In order to provide information concerning the significant contributions to price index theory made by Moritz Wilhelm Drobisch (1802-1896), this paper presents an account of his pioneering scientific achievements together with a synopsis of his personal and professional life. He was the first to...

Textbooks of macroeconomics regularly remind their readers that they should not interpret the macroeconomic price variable as some sort of average price. Instead it represents some price index indicating the average of the individual items' price changes between the period considered and some...