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 …

We analyze two reasons for export prices to be different across markets--namely, quality differentiation and variable … separately identify the markup and quality components of international relative prices for Chinese artworks. Through this lens …

This paper quantifies the effects of drug monopolies and low per-capita income on pharmaceutical prices in developing …

have prices become more informative? Using stock and bond prices to forecast earnings, we find that the information content … of market prices has not increased since 1960. The magnitude of earnings surprises, however, has increased. A baseline … model predicts that as the efficiency of information production increases, prices become more disperse and covary more …

shocks driving the economy and the systematic response of monetary policy to inflation: More flexible prices amplify the … shocks, ask: Would the U.S. economy have been more or less stable had prices been more flexible than historically? Our main …

Conventional wisdom suggests that producer prices are more rigid than consumer prices and therefore play less of a role … for the producer price index, we find that producer prices for finished goods and services in fact exhibit roughly the … same rigidity as consumer prices that include sales and substantially less rigidity than consumer prices that exclude them …

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 …

inflation. The Michigan Survey of Consumers uses questions about "prices in general" to measure expected and perceived inflation … specific prices when being asked about "prices in general." Here, we randomly assigned respondents to questions about "prices … and more dispersed for "prices in general" than for "the rate of inflation," with "prices you pay" and "prices in general …

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 …