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 …

The conventional wisdom is that monetary shocks interact with sticky goods prices to generate the observed volatility … and persistence in real exchange rates. We investigate this conventional wisdom in a quantitative model with sticky prices …

Border prices of traded goods are highly sensitive to exchange rates; however, the consumer price index (CPI) and the … retail prices of goods that make up the CPI are more stable. This paper decomposes the sources of this price stability for … distribution margins and imported inputs in transmitting exchange rate fluctuations into consumption prices. We provide rich cross …

exchange rate movements and import prices. Recent debates hinge on whether producer-currency-pricing (PCP) or local currency … into import prices. However, for OECD countries, the most important determinants of changes in pass-through over time are …

three reasons for the change in pass-through into the retail prices of goods. First, pass-through may have declined at the … level of import prices, but the evidence is mixed over types of goods and countries. Second, there has been a large … heightened sensitivity to import prices and exchange rates. Finally, we consider whether there have been changing sectoral …