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Author: Paul Mizen

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Blog
VoxEU:
Why inflation may respond faster to big shocks: The rise of state-dependent pricing

Macroeconomic models distinguish time-dependent pricing, where firms change prices at fixed intervals, from state-dependent pricing, where firms change prices in response to changing demand or costs. This column presents...Read more...

Nicholas Bloom, Philip Bunn, Craig Menzies, Paul Mizen, Gregory Thwaites and Ivan Yotzov

6 February 2026

Blog
VoxEU:
A nonlinear Phillips curve helps explain the inflation overshoot

The recent high-inflation episode generated renewed interest about the slope of the Phillips curve and non-linearities in price-setting behaviour. This column uses survey data from US and UK firms to show that prices res...Read more...

Lena Anayi, Emily Barnes, Nicholas Bloom, Philip Bunn, Paul Mizen, Gregory Thwaites and Ivan Yotzov

23 December 2025