Karádi, Péter (contributor); Reiff, Àdám (contributor) - 2007
The paper explains the observed asymmetric inflation response to value-added tax (VAT) changes in Hungary by … inflation and forward-looking firms, thereby it provides direct evidence to the argument of Ball and Mankiw (1994). -- Menu Cost … ; Inflation Asymmetry ; Sectoral Heterogeneity ; Value-Added Tax …