deliver differential responses of prices to aggregate and sectoral shocks. Input-output production linkages induce across …-sector pricing complementarities that contribute to a slow response of prices to aggregate shocks. In turn, input-market segmentation … prices to sector-specific shocks. Estimating the factor-augmented vector autoregression specification of Boivin, Giannoni …

determining the response of aggregate variables to shocks at different frequencies: Sectors where prices are stickier are … allowing for this type of heterogeneity is critically important to understanding the joint dynamics of output and prices, and …