market using data from Finland. While the previous related literature studies the reactions of sales volume and prices to an …-error correction model, the response of prices to demand shocks is found to be substantially slower than that of sales. The effect of a …

Industrial prices of goods and services are a function of costs of production and of the mark-up that firms apply on … those costs. If these prices relate to goods that are traded internationally, they will also be influenced by the price at … from Batini, Jackson and Nickell (2000). In both models, sectoral domestic prices depend on marginal costs and sectoral …

The costs of wars have been the main driver of public debt in the Western World during the modern era. The late … finances. I provide evidence that the costs of financial crises have increased strongly in the second half of the twentieth … century and that the costs of financial crises grow with the size of the financial sector. In many countries, the rising costs …

, trade is more sensitive to trade costs if the exporting country only provides a small share of the destination country …’s imports. As a result, trade costs have a heterogeneous impact across country pairs, with some trade flows predicted to be zero …