unique Latvian scanner-level dataset for food and beverages, covering the 2008-09 financial crisis, to study (i) relative … of foreign goods viz. the food CPI increased by 4.4% during the crisis. Second, the majority of the switching took place … value domestic items during the crisis, motivate us to model non-homothetic consumer demand. Over the crisis period, the …

explore the causes of the banking crisis. We test the model against the data on HP-detrended data and reestimate it by …'s implied residuals on US unfiltered data since 1984 to replicate how the model predicts the crisis. The main banking shock … worsens the banking crisis but `traditional' shocks explain the bulk of the crisis; the non-stationarity of the productivity …