empirical exercise a step further by considering the underlying issues in more detail. We analyze two price datasets, one for …

We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price … data from the German Consumer Price Index that covers the years 1998 to 2003. We strong find evidence of time- and state …-dependent price adjustment. Most importantly, the differences in quot;unconditionalquot; sectoral price flexibility are found to be …

unexpected gas price supply shocks on HICP inflation in the euro area and its four largest economies. In comparison to oil price … shocks, gas price shocks have approximately one-third smaller pass-through to headline inflation. Country-specific results … indicate gas price increases matter more for German, Spanish and Italian inflation than for French inflation, hinging on the …

This paper evaluates whether macroeconomic uncertainty changes the impact of oil shocks on the oil price. Using a … production volatility, significantly increases the responsiveness of oil prices to oil shocks. This implies a lower price …, varying uncertainty about the macroeconomy can explain time variation in the oil price elasticity and hence in oil price …

This paper evaluates whether macroeconomic uncertainty changes the impact of oil shocks on the oil price. Using a … production volatility, significantly increases the responsiveness of oil prices to oil shocks. This implies a lower price …, varying uncertainty about the macroeconomy can explain time variation in the oil price elasticity and hence in oil price …

beliefs, generating positive price-quantity comovement. The feedback of beliefs into prices can be so strong that even …