We provide novel evidence on the supply-side transmission of monetary policy through a floating-rate channel. After a rate hike, firms with floating-rate loans keep prices elevated to offset higher borrowing costs, thereby reducing the effectiveness of monetary policy. Using monthly data on...

The calculation of unit cost that can be used for estimating capacity investment decisions is frequently ambiguous due to the many ways to apportion applicable cash ows connected to the delivery of products. This paper studies the identification of relevant unit cost when productive capacity is...

The calculation of unit cost that can be used for estimating capacity investment decisions is frequently ambiguous due to the many ways to apportion applicable cash ows connected to the delivery of products. This paper studies the identification of relevant unit cost when productive capacity is...