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This book collects results from ad hoc surveys on firms pricing behavior conducted in 2003 and 2004 by nine National central banks of the Euro area in the context of a joint research project (Eurosystem Inflation Persistence Network). These surveys have proved to be an efficient way to test theories on the pricing strategies of economic agents, documenting, in qualitative terms, the underlying rationale of the observed pricing patterns. The book provides an unprecedented amount of information from more than 11,000 euro area firms, addressing issues such as the relevance of nominal and real rigidities, the information set used by firms in the price setting process, the strategy followed to review prices, the frequency of both price reviews and price changes, the reasons underlying price stickiness, and asymmetries in price adjustment. It also compares results for the euro area to those obtained for other countries by similar studies. Finally, it draws the main implications for theoretical modeling and for monetary policy.
The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrializ...
This four-volume reference work covers the history, records and lore of boxers and boxing. Part I, the longest section, presents alphabetical entries of bare knuckle boxers, and the transitional and Queensberry Rules eras (with more than 2,600 fighters from the latter). Each entry includes dates of birth and death, place of birth, nicknames, a list of fights, and career statistics. Part II covers non-boxers, including referees, promoters, publicists, managers, trainers, cut men, announcers and others. Part III contains records of world title bouts from 1878 through 2010. Part IV lists various records and champions, both amateur and professional, including the all-time leaders in many statistical categories. Part V describes the organization of the sport, tracing the history of weight divisions, world titles and halls of fame. Part VI is an overview of boxing in history and culture (champions of ancient Greece, equipment, gymnasiums, radio and television, literature, drama, the arts, etc.). An appendix offers a timeline of boxing and a bibliography concludes the work.
Since bank credit lines are a major source of corporate funding, we examine the determinants of credit line usage with a comprehensive database of Spanish corporate credit lines. A line's default status is a key factor driving its usage, which increases as a firm's financial condition worsens. Line usage decreases by roughly 10% for each year of its life. Lender characteristics, such as the number and length of a firm's banking relationships, are found to affect a firm's usage decisions, and credit line usage is found to be inversely related to macroeconomic conditions [Resumen de autor]