This paper documents and analyses output and price reactions to monetary shocks for 13 manufacturing sectors in the UK. It is found that market share turns out to be a key variable for explaining heterogeneity of industrial price adjustment to monetary shocks in the sense that firms in...

This article extends the Vector Autoregression (VAR) methodology to examine the consequences of monetary policy decisions by considering two types of nonlinearities in the determination of official interest rates: (1) the asymmetry related to the different nature of the discrete and infrequent...

We propose a new approach for estimating a “hybrid” New Keynesian Phillips Curve (NKPC)that includes demand pressures coming from disequilibrium relations in three differentmarkets: (1) monetary and financial, (2) international, and (3) labour. The results of theapplication of this approach...

We propose a new approach for estimating a “hybrid” New Keynesian Phillips Curve (NKPC) that includes demand pressures coming from disequilibrium relations in three different markets: (1) monetary and financial, (2) international, and (3) labour. Econometric tests based on Chilean data...

We analyze the impact of the national minimum wage (NMW) in the UK on the employment of young workers. We utilize the regression discontinuity approach to assess the impact of age-related increases in the NMW when workers turn 18 and 22. The previous literature has found little evidence of an...

We study the performance of different modelling strategies for 969 and 600 monthly price indexes disaggregated by sectors and geographical areas in Spain, regions, and in the EA12, countries, in order to obtain a detailed picture of inflation and relative sectoral prices through geographical...