Efficiency comparison of ad valorem and unit taxes has been traditionally based on consumer welfare. However, if the tax instrument also affects the distribution of firms over their productivities, the policy maker may be concerned about the implications on aggregate productivity as well. This...

Previous studies have stressed that in ation dynamics exhibit a substantial disper- sion across sectors. Using US producer price data, we present evidence that sectoral in ation persistence is negatively correlated with market concentration, which is diffi- cult to reconcile with the prediction...