This paper presents evidence that speculative bubbles can have sizeable effects on house prices, and on housing … investment. We infer that deviations of asset prices from fundamental values may have serious consequences for real activity, and …

Border prices of traded goods are highly sensitive to exchange rates; however, the consumer price index (CPI) and the … retail prices of goods that make up the CPI are more stable. This paper decomposes the sources of this price stability for … distribution margins and imported inputs in transmitting exchange rate fluctuations into consumption prices. We provide rich cross …

, prices, and factor supplies. The model is based on the neoclassical theory of production, and is implemented by assuming that … competitive general equilibrium where goods prices, technology and factor supplies jointly determine outputs and factor prices. We … GDP is a function of prices, technology levels, and supplies of capital and different types of labor. We treat final goods …

traded-goods prices exhibit significant inertia in the face of shocks such as exchange rate changes. This paper uses a … wholesale prices for UPC (Universal Product Code)-level products. Markup adjustments by manufacturers and the retailer explain …

exchange rate movements and import prices. Recent debates hinge on whether producer-currency-pricing (PCP) or local currency … into import prices. However, for OECD countries, the most important determinants of changes in pass-through over time are …

This paper analyzes the dynamics of prices and wages using a limited information approach to estimation. I estimate a … two-equation model for the determination of prices and wages derived from an optimization-based dynamic model in which … both goods and labor markets are monopolistically competitive; prices and wages can be reoptimized only at random intervals …

three reasons for the change in pass-through into the retail prices of goods. First, pass-through may have declined at the … level of import prices, but the evidence is mixed over types of goods and countries. Second, there has been a large … heightened sensitivity to import prices and exchange rates. Finally, we consider whether there have been changing sectoral …