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 …

reset-price inflation to exchange rate shocks exhibits significant persistence. Individual import prices, conditional on … imports, like that for consumer prices, exhibits little persistence. Competitor prices affect firm pricing, and exchange rate … pass-through into import prices is greater in response to trade-weighted, as opposed to bilateral, exchange rate shocks. We …

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

with sticky goods prices. If prices are held fixed for at least one year, risk aversion is high, and preferences are …

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 …