We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German producer price index. After expansionary monetary policy, the increase in the frequency of price change is economically small, the average absolute size across all price...

This paper analyzes the effects of mergers on markups of non-merging rival firms in narrowly defined markets. Combining data from the European Commission’s market assessments in merger decisions with production data, we use recent methodological advances in the estimation of production...

This paper attempts to analyze the impact of knowledge and knowledge spillovers on regional total factor productivity (TFP) in Europe. Regional patent stocks are used as a proxy for knowledge, and TFP is measured in terms of a superlative index. We follow Fischer et. al (2008) by using a...