The overall price level increased sharply in transition countries once prices were freed. Disinflation has most frequently been gradual, with prices continuing to rise rapidly in subsequent years. This paper identifies the well-known and lesser-known features of inflationary processes in central...

This paper utilizes transaction-level data to examine the effect of the minimum wage on US retail prices. We find minimal price pass-through across a variety of identification strategies. Additionally, there is no evidence of anticipation/retrospective adjustment in prices, heterogeneous...

In an effort to provide a better understanding of the large variation in price levels between countries, we report on a cross-country analysis of national price levels, using Purchasing Power Parity (PPP) data on 168 economies from the most recent 2011 round of the International Comparison...

Urban development projects have many effects on society, such as improving mobility, health, education, and sustainability. For policy-relevant measures, it is important that policymakers are able to foresee how quality improvements influence the price of land. Therefore, our objective is to...

It is widely accepted that aggregate housing prices are predictable, but that excess returns to investors are precluded by the transactions costs of buying and selling property. We examine this issue using a unique data set - all private condominium transactions in Singapore during an...

The purpose of this work is to find empirical evidence on the behavior of the prices in an insular region, with a market of small size and, simultaneously, fragmented. To that end, with consumer price data for four products of the food and beverage group observed in the Canary Islands we study...

This paper studies the adjustment patterns of Finnish Consumer Price Index (CPI) from the following perspectives. First, we examine how the adjustment patterns have changed from late 1990s to mid 2000s. We find significant differences in the price adjustment patterns both over time and between...

The price of vacant land zoned for housing is expected to be tightly linked to housing prices. In informationally efficient markets, vacant lot price movements should not lag changes in housing prices. In practice, however, the leading role of housing appreciation with respect to vacant lot...

The interrelationship between house prices and mortgage credit has been one of the more compelling issues to warrant attention after the recent financial crisis. Considerable financial innovation and liberalisation of wholesale international funding markets over the past 20 years greatly...

Following price and exchange rate liberalization, domestic consumer prices in Russia moved closer to market levels. This paper quantifies the magnitude of the associated relative price changes. It also shows that relative price variability has been positively correlated with inflation. It is...