s may affect inflation and economic activity. This paper considers the implications of this structural change on short …-run inflation dynamics, and for assessing shocks to inflation and output. The importance of firms' price-setting behaviour is … latter. The effects of mark-up shocks on inflation and output are small when firms' price-setting behaviour incorporates …

. -- contests ; intention-based fairness preferences …

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 …