prices when generating their inflation expectations. Those who thought of specific prices reported more extreme and more …

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 …

Policymakers concerned about rapid swings in commodity prices seek economic guidance about causal factors and future …