Haldane: market power puzzle is important for policy

Andrew Haldane. Photo: Niccolo Caranti

Changes in market power can significantly affect monetary policy, but the macro- and microeconomic evidence is “not easily reconciled”, Bank of England chief economist Andy Haldane said in a recent speech.

During remarks at the Jackson Hole conference on August 24, Haldane noted the microeconomic evidence that an increase in market power was allowing firms to set higher mark-ups. A more monopolistic market would tend to imply higher price variability – but the macroeconomic evidence clearly

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: