In this paper we explore the link between monetary policy and market power. We start by establishing several facts on market power in UK markets using micro data. First, while no clear trend emerges for market concentration, market power measured by markups estimated at the firm level have...

This paper presents a range of unobserved components models to study productivity dynamics in the United Kingdom. We introduce a set of univariate and bivariate models that allow for shocks between the trend and the cycle to be correlated, and use Bayesian sampling techniques to estimate the...