each man, woman, and child living in the UK. The price that internalizes this externality is equivalent to an additional 9p … per alcoholic unit, implying a 20% increase with respect to the current average price. …

cannabis in the London borough of Lambeth, on hospital admissions related to illicit drug use. To do so, we exploit …

advertising does not bring about a large expansion of market demand at given prices and when it increases product differentiation … equilibrium prices and thus increase demand. It is argued that this is more likely to happen in mature industries where consumer … increase firms’ profits the weaker the ability of advertising to expand total demand and the less advertising serves to induce …

In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent … study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …

constant markups. The differences are important quantitatively; price differences in Hungarian exports between Germany and the …