The novelty of this work is in the presentation of a theoretical framework that allows the modeling of an announced switch of the monetary regime. In our experiment, the monetary authority announces stabilization of the nominal exchange rate after the announced number of periods. We analyze the...

Most empirical studies on price setting that use micro data focus on advanced industrial countries. In this paper we analyze the experience of an emerging economy, Slovakia, using a large micro-level dataset that accounts for a substantial part of the consumer price index (about 5 million...

Recent literature has analyzed three channels through which size and patterns of a country's involvement in international trade may affect the quality of its institutions: openness, the institutional intensity of exports and the natural resources exports. Our contribution is threefold. First, we...