• 1 Introduction
  • 2 The global perspective of monetary transmission
  • 3 The price adjustment process
  • 4 Empirical analysis
  • 4.1 Data description and aggregation issues
  • 4.2 The VAR Methodology
  • 4.3 Empirical findings
  • 4.4. Robustness checks
  • 5 Conclusions
  • References
  • Appendix A1
  • Appendix A2