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 …

We study a newly constructed panel data set of relative prices of a large number of consumer goods among 31 European …

This paper estimates monthly pass-through ratios from import prices to consumer prices in real time. Conventional time … series methods impose restrictions to generate exogenous shocks on exchange rates or import prices when estimating pass …-through coefficients. Instead, a natural experiment based on data releases defines our shock to foreign prices. Our estimation strategy …

crucially on the choice of price series used to measure relative prices and on the choice of trade partner. The relation is … stronger when we measure relative prices using producer prices rather than consumer prices. The relation is stronger the more …