EUROPEAN CENTRAL BANK
EUROSYSTEM
In 2009 all ECB
publications
feature a motif
taken from the
€200 banknote.
WORKING PAPER SERIES
NO 1104 / NOVEMBER 2009
PASS-THROUGH OF EXTERNAL
SHOCKS ALONG
THE PRICING CHAIN
A PANEL ESTIMATION
APPROACH FOR
THE EURO AREA
by Bettina Landau and Frauke Skudelny 1
This paper can be downloaded without charge from
http://www.ecb.europa.eu or from the Social Science Research Network
electronic library at http://ssrn.com/abstract_id=1492528.
1 European Central Bank, [email protected] and [email protected]. The views expressed in this paper are those of the
authors and do not necessarily reflect the views of the ECB. We gratefully acknowledge helpful input and comments from Jorg Breitung,
Linda Goldberg, Geoff Kenny, Hans-Joachim Klockers, Pavlos Petroulas, an anonymous referee and participants at ECB seminars
and workshops and the EcoMod 2008 at Berlin.