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We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price …
Persistent link: https://www.econbiz.de/10011604698
synchronized within rather than across stores. Time variations in inflation can be attributed mainly to variations in the frequency …
Persistent link: https://www.econbiz.de/10014374335
We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price …
Persistent link: https://www.econbiz.de/10012778429
cross-country differences in the mismatch of perceived and actual inflation in the aftermath of the cash changeover are …
Persistent link: https://www.econbiz.de/10013317681
Survey. All things being equal, financially constrained firms charge higher markups when faced with low demand; this …
Persistent link: https://www.econbiz.de/10011916868
Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition. After calibrating the model to the euro area vs. the...
Persistent link: https://www.econbiz.de/10011604387
We develop and estimate a stylized micro-founded model of the US economy. Next we compute the parameters of a simple interest rate policy rule that maximizes the unconditional mean of utility. We show that such a welfare-based rule lies close to the Taylor efficiency frontier. A counterfactual...
Persistent link: https://www.econbiz.de/10011604659
In this paper we explore the link between the intensity of product market competition and inflation rates across EU … countries and sectors. We consider long-term averages of inflation rates in order to remove the cyclical behavior of inflation … product market competition, as proxied by the level of mark-up in particular, is an important driver of inflation …
Persistent link: https://www.econbiz.de/10011604499
setting behaviour of Portuguese firms. Inflation, the level of economic activity and the magnitude of the last price change …
Persistent link: https://www.econbiz.de/10011604557
This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22 … associated to Global Inflation is not only due to the trend components of inflation (up from 1960 to 1980 and down thereafter …) but also to fluctuations at business cycle frequencies. Second, Global Inflation is, consistently with standard models of …
Persistent link: https://www.econbiz.de/10011604583