, consumer prices (excluding food and energy goods) have increased by a much smaller amount--8.9%. To economists, and … particularly to central bankers and others who think about forecasting inflation, this relative insensitivity of consumer prices to … were traded at a negligible cost and if their prices reflected only their production costs, then retail prices should be …

This Economic Letter summarizes the papers presented at the conference "Asset Prices, Exchange Rates, and Monetary …