windfall profits and provide an impulse for further price hikes. (2) To protect profit margins from rising costs, downstream …

We investigate the monetary linkage between aggregate accounting profitability changes and inflation. Recent previous … (i.e., real riskless rate, expected inflation, and expected equity risk premium) further supporting the theory of … the impact of aggregate profitability changes on monetary-policy-stance measures in order to explain the relation between …

profits. The discontinuity in the profit distribution is (i) more pronounced amid greater political or public pressure, the …. These findings indicate that profitability concerns, while absent from standard theoretical models of central banking, are …