to a product's tradability. For individual products, LOP deviations are affected by their own inflation rates and, to a … deviation series are found to display considerable persistence and there is limited evidence that tradability enhances price … lesser extent, by aggregate inflation, output variations, and monetary variability. Interestingly, the trend behavior remains …

smaller than one when the foreign share is low, such as in the U.S. in the 1950's and 1960's and Japan today, and larger than …

the U.S. in the 1950s and 1960s and Japan today, and larger than one when the foreign share is high, such as in the U …

smaller than one when the foreign share is low, such as in the U.S. in the 1950's and 1960's and Japan today, and larger than …