regional price levels (sub-national purchasing power parities) have been exempt from this positive trend, even though they are …. To improve the situation, our paper demonstrates that a highly disaggregated and reliable regional price index can be … compiled from data that already exist. We use the micro price data that have been collected for Germany's Consumer Price Index …

endogenous international price movements that are consistent with both the "old" and the "new" facts. In this mechanism, firms … operating in a monopolistically competitive environment adjust price and quality of their products in response to technological … shocks. This model is consistent with the old facts if price levels are not adjusted for quality. Instead, if quality …

This paper proposes a macroeconomic model with positive trend inflation that involves an important role for price … distribution of price points is more successful in explaining several stylized facts of individual price setting than a benchmark … model that is based on Calvo price-setting. More specifically, it makes empirically reasonable predictions with regard to …

competing products, the price of individual products tends to fall over the product lifetime. This holds true for more than 90 …% of the expenditure items underlying the U.K. consumer price index and has important normative implications. Constructing … a sticky price model featuring a product life cycle and rich amounts of heterogeneity, we explain how the optimal in …

competing products, the price of individual products tends to fall over the product lifetime. This holds true for more than 90 …% of the expenditure items underlying the U.K. consumer price index and has important normative implications. Constructing … a sticky price model featuring a product life cycle and rich amounts of heterogeneity, we explain how the optimal …

level of the interchange fee leads to a long run 0.17% reduction in the retail price index. Such outcome is almost …