We show that firms’ market power dampens the response of their output to monetary policy shocks, using firm-level data for the United States and a large cross

Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT).

Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcie

We examine the strength of monetary transmission in India, using a conventional structural VAR methodology. We find that a tightening of monetary policy is asso

The goals of this monograph are to explain the models and techniques and make it more accessible, introduce the main strands of this literature, and explain how