The current level of competition in European commercial passenger rail markets is low and empirical data on customer … preferences in intramodal competition has hardly been available, yet. Our study raises the knowledge of competition in commercial … regressions. Our analysis indicates that customers experiencing competition (Cologne-Brussels) show a higher preference for …

We examine both the degree and the structural stability of inflation persistence at different quantiles of the … conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation … higher inflation persistence at the upper than at the lower tail of the conditional inflation distribution. Based on post …

model in which endogenous regime switches are triggered by the inflation rate. The model separates a high from a low … inflation regime with both regimes being strongly persistent. Generalized impulse response functions highlight important across …-regime differences in the responses of the economy to monetary policy and inflation shocks. Simulating both regimes with individual …

autoregressive model. In a high inflation regime the standard results from the literature obtain. In a low inflation regime output … shows no significant response to monetary policy while the inflation response is negative. The paper endogenously determines …

asymmetry of sectoral relative-price changes and the aggregate inflation rate. This correlation is widely interpreted as … evidence that short-run inflation is determined by supply-side factors; however, we study whether, in addition to the inflation …, that the positive and significant effect of relative-price change asymmetries on inflation is not robust with respect to …