This paper explores the dynamics of price-cost mark-ups using firm-level data, paying particular attention to the crisis period 2008-2011. To this end, we apply the econometric framework developed by Klette (1999) to a comprehensive sample of Spanish non-financial corporations in order to...

This paper analyses the level of inequality in Spain and how it evolved over the course of the past crisis and the early stages of the current recovery. To this end, it first introduces the various dimensions of wage, income, consumption and wealth inequality, and studies how they have...

Incorporamos heterogeneidad empresarial en productividad dentro del marco de estimación tradicional de márgenes desarrollado por Roeger (1995) y ampliado por Crépon et al. (2005) para dar cabida a fricciones en la negociación salarial. Calculamos márgenes a escala de empresa con un panel...

I test the predictions from Duca, Montero, Riggi and Zizza (2017), who develop a customer-market model with consumer switching costs and capital-market imperfections in which price-cost markups behave countercyclically, with a subsample of European firms participating in the Wage Dynamics...

We consider a standard result of customer market theory: if firms have stable customer relations and face financial frictions, they may keep prices relatively high on their locked-in shoppers to maintain short-term profits at the expense of future market shares in times of low demand and vice...