Accounting for Incomplete Pass-Through

Emi Nakamura, Dawit Zerom

NBER Working Paper No. 15255
Issued in August 2009

---- Acknowledgements -----

We would like to thank Ariel Pakes and Kenneth Rogoff for invaluable advice and encouragement. We are grateful to Dan Ackerberg, Hafedh Bouakez, Ariel Burstein, Ulrich Dorazelski, Tim Erickson, Gita Gopinath, Penny Goldberg, Joseph Harrington, Rebecca Hellerstein, Elhanan Helpman, David Laibson, Ephraim Leibtag, Julie Mortimer, Alice Nakamura, Serena Ng, Roberto Rigobon, Julio Rotemberg, Jón Steinsson, Martin Uribe and seminar participants at various institutions for helpful comments and suggestions. This paper draws heavily on Chapter 2 of Nakamura's Harvard University Ph.D. thesis. This research was funded in part by a collaborative research grant from the US Department of Agriculture and the computational methods in this paper also draw on a working paper by Nakamura and Zerom entitled "Price Rigidity, Price Adjustment and Demand in the Coffee Industry.'' Corresponding author: Emi Nakamura at enakamura@columbia.edu. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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