Graduate School of Management (GSM-KU) Professor
In a decentralized market economy, to what extent are favorable or unfavorable changes in the business environment faced by firms passed on to consumers? What factors determine the degree of such pass-through?
This "academic question" lies at the core of my research agenda. I view it as central to a fundamental understanding of "real-world economic issues" such as how efficiently goods and services are produced and consumed, how the gains and losses from economic changes are distributed, how public policies affect the incidence of these activities, and how prices move in the macroeconomy.