For more than half a century, the US dollar has been not just America's currency but the
world's. It is used globally by importers, exporters, investors, governments and central banks …

We survey the recent empirical and theoretical developments in the literature on the relation
between prices and exchange rates. After updating some of the major findings in the …

This paper investigates exchange rate pass-through into consumer prices by considering
the nature of the shock triggering currency movements. By individually estimating structural …

A major challenge for monetary policy is predicting how exchange rate movements will
impact inflation. We propose a new focus: directly incorporating the underlying shocks that …

This paper shows that standard international business cycle models can be reconciled with
the empirical evidence on the lack of consumption risk sharing. First, we show analytically …

Recent theoretical work has suggested a number of potentially important factors in causing
incomplete pass-through of exchange rates to prices, including markup adjustment, local …

This chapter studies optimal monetary stabilization policy in interdependent open
economies, by proposing a unified analytical framework systematizing the existing literature …

A standard assumption in the empirical literature is that exchange rate pass‐through is both
linear and symmetric. This study tests these assumptions for export and import prices in the …

This paper describes a dynamic stochastic general equilibrium model featuring a fraction of
non-Ricardian agents in order to estimate the effects of fiscal policy in the Euro area. The …

This paper builds a baseline two-country model of real and monetary transmission in the
presence of optimal international price discrimination by firms. Distributing traded goods to …