This paper examines the presence of nonlinear mechanism in the exchange rate pass-through (ERPT) to CPI inflation for … inflation in the EA context …

During the Great Moderation, macroeconomic volatility declined while firm markups increased. We document a causal … relationship between volatility and markups due to tacit collusion. We exploit the legalisation of interstate banking as an … 19 percentage point increase in aggregate markups. The effect is due to large firms and firms operating in non …

by changes in markups rather than by changes in local costs. We then argue that markups rise with house prices … markups in response. Consistent with this explanation, shopping data confirms that house price changes have opposite effects …

result, the effective elasticity of substitution differs across households, affecting optimal markups chosen by producers. In … line with empirical evidence, the model predicts a short-term inflation-output trade-off, a liquidity effect …, countercyclical markups, and procyclical profits and wages after monetary shocks. -- Segmented Asset Markets ; Monetary Policy …

The integration of China into the global economy is one of the most spectacular events in economic history. This paper … investigates to what extent this process affects output growth and inflation in the advanced countries. A GVAR model is specified … to explore interdependencies between business cycles in China and industrial countries, including the US, the euro area …

The integration of China into the global economy is one of the most spectacular events in economic history. This paper … investigates to what extent this process affects output growth and inflation in the advanced countries. A GVAR model is specified … to explore interdependencies between business cycles in China and industrial countries, including the US, the euro area …