The paper explains the observed asymmetric inflation response to value-added tax (VAT) changes in Hungary by calibrating a standard sectoral menu cost model on a new micro-level CPI data set. The model is able to reproduce important moments of the data, and finds that the asymmetry can be...

This paper develops an empirical method to identify the price effects of simultaneous mergers and to separate the different effects on the prices of the buyer and seller firms and on the prices of their respective competitors. Our difference-in-differences approach exploits variation in the...

Die Hauptziele der Privatisierung in der ungarischen Lebensmittelindustrie waren deren Restrukturierung und die Erhöhung ihrer Wettbewerbskraft sowie das Erreichen von staatlichen Gewinnen zur Finanzierung der Staatsverschuldung. Ausländisches Kapital strömt vor allem in die großen...