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How does competition affect information acquisition of firms and thus the response of inflation and output to monetary … uncertainty about inflation as a non-targeted moment. …
Persistent link: https://www.econbiz.de/10012200269
inspired by the economic theory of index numbers. The indices provide a theoretical benchmark for estimated real effective …
Persistent link: https://www.econbiz.de/10012779161
Persistent link: https://www.econbiz.de/10013551665
In this paper we explore the link between the intensity of product market competition and inflation rates across EU … countries and sectors. We consider long-term averages of inflation rates in order to remove the cyclical behavior of inflation … product market competition, as proxied by the level of mark-up in particular, is an important driver of inflation …
Persistent link: https://www.econbiz.de/10011604499
countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity …This study evaluates the role market competition plays in determining inflation based on sector-level data from OECD … of market competition. This study shows that inflation decreases with greater market competitiveness even after …
Persistent link: https://www.econbiz.de/10010280812
import prices only to a small extent, it may have a substantial impact on inflation, as it exerts a sizeable impact on the …
Persistent link: https://www.econbiz.de/10010281451
We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions after calibrating the model to the euro area...
Persistent link: https://www.econbiz.de/10002101549
The growth of Italian exports has lagged that of euro area peers. Against the backdrop ofunit labor costs that have risen faster than those in euro area peers, this paper examines whether there is a competitiveness challenge in Italy and evaluates the framework of wage bargaining. Wages are set...
Persistent link: https://www.econbiz.de/10012922624
This paper develops a model where large financial intermediaries subject to systemic runs internalize the effect of their leverage on aggregate risk, returns and asset prices. Near the steady-state, they restrict leverage to avoid the risk of a run which gives rise to an accelerator effect. For...
Persistent link: https://www.econbiz.de/10013305673