above which policies of demand stimulus are non-inflationary. However, this non-accelerating inflation rate of unemployment …

This paper studies the effect of competitive pressures on inflation dynamics. To this end it derives and estimates a … their market power. By taking into account the number of competitors, the pass-through of real marginal cost on inflation is … of real marginal cost on inflation is stronger than that found in the empirical test of the standard model. The estimated …