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Multiple Regimes in the Preferences for Redistribution
(2023-08-29)
This paper provides novel evidence of nonlinearities in the formation of preferences for redistribution by uncovering evidence of multiple regimes consistent with the presence of multiple equilibria and multiple steady ...
Understanding Law-of-One-Price Deviations across Europe Before and After the Euro
(2014-01)
We use a panel of thousands of good-level prices before and after the euro in order to compare
the determinants and understand the evolution of goods price dispersion across Europe during
these two periods. We find that ...
Global versus local shocks in micro price dynamics
(2012)
A number of recent papers point to the importance of distinguishing between the price reaction to
micro and macro shocks in order to reconcile the volatility of individual prices with the observed
persistence of aggregate ...
Global versus local shocks in micro price dynamics
(2011)
A number of recent papers point to the importance of distinguishing between the price
reaction to micro and macro shocks in order to reconcile the volatility of individual prices
with the observed persistence of aggregate ...
Inflation expectations and monetary policy surprises
(2017-01)
We use monthly data across fifteen euro-area economies for the period 1985:1-2015:3 to obtain monetary policy changes that can be regarded as surprises for different types of consumers. A novel feature of our empirical ...
International price dispersion and the direction of trade
(2006)
The importance of trade costs in segmenting product markets cannot be captured by considering aggregate prices or in the absence of information on the direction of trade. We address
this problem by utilizing product-specific ...
Trends in international prices
(2010)
We exploit the panel dimension of a price levels dataset for more than one hundred product
items across 140 cities in 90 countries for the period from 1990 to 2009 in order to improve
our understanding of international ...
R&D, innovation, and technological progress: a test of the schumpeterian framework without scale effects
(2002)
I use U.S. manufacturing industry data to estimate a system of three equations implied by a model of
R&D-induced growth in steady state. These three equations relate R&D intensity to patenting, patenting
to technological ...
Longevity and education: a macroeconomic perspective
(2007-12)
This paper investigates the determinants of longevity at a macroeconomic level, emphasizing the important role played by education. To analyze the determinants of longevity, we build
a model where households intentionally ...