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We implement a tractable state-dependent Calvo price-setting signal dependent on inflation and aggregate competitiveness. This allows us to derive a New Keynesian Phillips Curve (NKPC) expressed in terms of the actual levels of variables - rather than in-deviation from steady stateʺ form - and...
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A commonly held theory presumes that drug companies in the U.S set prices for patented drugs at profit- maximizing …We apply global public good theory to examine the pricing of branded drugs. To this end, we describe the optimal global …
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