NBB_ERPTpuzzle_Nov2022

The data and codes presented here allow to reproduce the Figures and Tables associated with the paper
"Low pass-through and international synchronization in general equilibrium: reassessing vertical integration"
by Greg de Walque, Th. Lejeune, A. Rannenberg and R. Wouters
of which a previous and incomplete version has been previously released as National Bank of Belgium Working Paper n°386 under the title
"Low pass-through and high spillovers in NOEM : What does help and what does not"
Noteworthy, an online Appendix to the above mentioned paper is also available in the folders below.
It also contains the Online Appendix which is not meant to be published by the journal to which the paper is submitted.
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What these Figures and Tables reproduce is explained at length in these publications.
The data, codes to reproduce these graphs and the way to proceed are described in the associated "Readme.docx" file.

此处提供的数据和代码，旨在复现Greg de Walque、Th. Lejeune、A. Rannenberg及R. Wouters所著论文《低通过率和一般均衡中的国际同步：垂直整合的再评估》中相关的图和表。该论文的先前及不完整版本已作为比利时国家银行工作论文第386号以《NOEM中的低通过率和高溢出：何者助力，何者无效》为题发布。值得注意的是，上述论文的在线附录亦收录于下述文件夹中。该附录原不拟由投稿期刊出版。在线附录的详细解释见相关出版物。复现这些图表所需的数据、代码以及操作步骤均在附带的“Readme.docx”文件中予以描述。