. Thus, financial repression is most successful in liquidating debts when accompanied by a steady dose of inflation …. Inflation need not take market participants entirely by surprise and, in effect, it need not be very high (by historic standards … amounted on average from 3 to 4 percent of GDP a year. For Australia and Italy, which recorded higher inflation rates, the …

This paper is the first attempt to structurally estimate the impact of globalization on markups, and the effect of … changing markups on welfare, in a monopolistic competition model. To achieve this, we work with a class of preferences that … allow for endogenous markups and firm entry and exit that are especially convenient for empirical work - the translog …

inflation and activity. If policy makers are guided by the welfare criterion of the representative household, globalization … forces also lead monetary policy to be more aggressive with regard to inflation fluctuations but, at the same time, more …

combination of a change in the policy reaction function -- mainly toward a more aggressive response to inflation and output -- and …

find that nominal rigidities have been conditioned upon prevailing rates of inflation with a greater frequency of price …

We explore the role of strategic price-discrimination by retailers for price determination and inflation dynamics. We …

price increases is less sensitive to inflation than in models with fixed costs of changing prices. The latter predict … unrealistically large responses of price changes to inflation for firms that do not frequently reduce their prices. Adjustment costs …

features prices across retail locations around the world, suggesting that variable mark-ups play a key role in accounting for …