The trickier critique offered by Hamilton and Herrera (HH) focuses on the fact that BGW estimate the relationship between oil prices and macroeconomic variables using a model that includes seven ...

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 ...

We empirically examine U.S. monetary policy spillovers to the Middle East and Central Asia (ME & CA) region by decomposing U.S. interest rates changes into two orthogonal shocks: the pure monetary ...

Central banks in late 2021 kicked off the steepest and most coordinated series of interest rate hikes in four decades to contain the postpandemic inflation outbreak (see Chart 1). Many economists ...

Dhaka, July 9 -- Bangladesh Bank will unveil its new monetary policy by the end of July, signalling a shift from its current contractionary stance in a bid to spur economic growth while still reining ...