"We argue that market power by some corporations and in some sectors – including temporary market power emerging in the aftermath of the pandemic – amplified inflation. It made price increases peak higher and remain more persistent than they would have been in a world with less market power. To be clear: corporate profits were thus not the sole driver of inflation, nor are dominant corporations to blame for the energy shock
caused by Russia’s invasion of Ukraine. But we argue that their market power exacerbated the fallout – and that this is not sufficiently captured in the prevailing macroeconomic debate or in workhorse models."
"We argue that market power by some corporations and in some sectors – including temporary market power emerging in the aftermath of the pandemic – amplified inflation. It made price increases peak higher and remain more persistent than they would have been in a world with less market power. To be clear: corporate profits were thus not the sole driver of inflation, nor are dominant corporations to blame for the energy shock
caused by Russia’s invasion of Ukraine. But we argue that their market power exacerbated the fallout – and that this is not sufficiently captured in the prevailing macroeconomic
debate or in workhorse models."
"We argue that market power by some corporations and in some sectors – including
temporary market power emerging in the aftermath of the pandemic – amplified inflation.
It made price increases peak higher and remain more persistent than they would have
been in a world with less market power. To be clear: corporate profits were thus not the
sole driver of inflation, nor are dominant corporations to blame for the energy shock
caused by Russia’s invasion of Ukraine. But we argue that their market power exacerbated
the fallout – and that this is not sufficiently captured in the prevailing macroeconomic
debate or in workhorse models."
alt textthree rows with a barbecue on the left and William Wallace in Braveheart on the right. In the first row, captioned Wednesday, the barbecue is labelled “$899.99” and Wallace says “hold”. The second row, captioned Thursday, depicts the same. In the third row, captioned Black Friday, the there is a label with...
It's the Day of Hermes aka Mercurius Day aka #Wednesday! 🐏
"They say he [#Hermes] was responsible for #profit and an overseer of the businesses: consequently they set up the statue of him weighing a purse." #Suidas, Byzantine Greek lexicon, 10th century CE
🏛️ Hermes, Archaeological Museum of Nikopolis, Greece
Black Friday (files.mastodon.online)
alt textthree rows with a barbecue on the left and William Wallace in Braveheart on the right. In the first row, captioned Wednesday, the barbecue is labelled “$899.99” and Wallace says “hold”. The second row, captioned Thursday, depicts the same. In the third row, captioned Black Friday, the there is a label with...