We incorporate incumbent innovation in a Keynesian growth framework to generate an endogenous distribution of market power across firms. Existing firms increase markups over time through successful ...

Monetary policy is one of the most important tools available to a central bank for managing an economy. In India, it is conducted by the Reserve Bank of India (RBI), and every two months, the RBI’s ...

When inflation affects countries globally, as it did after the COVID-19 pandemic, how should central banks respond? Chicago Booth’s Veronica Guerrieri and her coauthors find that if monetary ...

The president of the financial institution argued that this stems from a surplus in the oil trade and from the contractionary ...

BRASILIA, Aug 5 (Reuters) - Brazil's central bank on Tuesday flagged caution over the impact of steeper U.S. trade tariffs, reaffirming its commitment to a policy stance aimed at lowering inflation ...

From a macro perspective, the oil shock is another form of monetary tightening. This is why the recent repricing in interest rates may ultimately prove misguided.