Narrow search
Showing 1 - 10 of 109
Cover Image
Credit Risk Transfer and Financial Sector Performance
Marsh, Ian W; Wagner, Wolf - C.E.P.R. Discussion Papers - 2004
In this Paper we study the impact of credit risk transfer (CRT) on the stability and the efficiency of a financial …
Persistent link: https://www.econbiz.de/10005662362
Cover Image
Union Power and Product Market Competition: Evidence from the Airline Industry
Neven, Damien J; Röller, Lars-Hendrik; Zhang, Zhentang - C.E.P.R. Discussion Papers - 1998
of unions is more on equity rather than efficiency. …
Persistent link: https://www.econbiz.de/10005124345
Cover Image
Competition, Market Niches, and Efficiency: A Structural Model of the European Airline Industry
Röller, Lars-Hendrik; Siekles, Robin - C.E.P.R. Discussion Papers - 1994
cartel pricing, airline prices in Europe might come down more gradually as efficiency increases and market niches are …
Persistent link: https://www.econbiz.de/10005498149
Cover Image
Output and Exports in Transition Economies: A Labour Management Model
Estrin, Saul; Hare, Paul G - C.E.P.R. Discussion Papers - 1999
The behaviour of an oligopolistic industry in a transition economy is analysed, assuming that the firms are labour-managed and the economy is open to international trade. The output of these firms is assumed to be of lower quality than the output of Western firms. Cournot equilibrium in the...
Persistent link: https://www.econbiz.de/10005497732
Cover Image
UK Phillips Curves and Monetary Policy
Haldane, Andrew; Quah, Danny - C.E.P.R. Discussion Papers - 1999
This paper documents some stylized facts on evolving UK Phillips curves, and shows how these differ from their US versions. We interpret UK Phillips curve dynamics in a positive theory of monetary policy - how policy-maker attitudes on the Phillips curve have evolved since the 1950s - rather...
Persistent link: https://www.econbiz.de/10005067633
Cover Image
Robust Learning Stability with Operational Monetary Policy Rules
Evans, George W.; Honkapohja, Seppo - C.E.P.R. Discussion Papers - 2008
We consider "robust stability" of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …
Persistent link: https://www.econbiz.de/10005498187
Cover Image
The `Walters' Critique of the EMS: A Case of Inconsistent Expectations
Miller, Marcus; Sutherland, Alan - C.E.P.R. Discussion Papers - 1990
Alan Walters has suggested that the European Monetary System will prove dynamically unstable when capital controls are removed. The argument is analysed within a model that includes overlapping contracts. It is found that the short-run effects predicted by Walters only arise when the credibility...
Persistent link: https://www.econbiz.de/10005504500
Cover Image
The Dynamic Stability of the European Monetary System
Melitz, Jacques; Michel, Philippe - C.E.P.R. Discussion Papers - 1986
make an attempt to explain the dynamic stability of the system. This attempt gives a central place to movements in desired …
Persistent link: https://www.econbiz.de/10005656230
Cover Image
The Structure of Simple 'New Economic Geography' Models
Robert-Nicoud, Frédéric - C.E.P.R. Discussion Papers - 2004
This paper shows that the mathematical structure of the most widely used New Economic Geography models is the same, irrespective of the underlying agglomeration mechanism assumed (factor migration, input-output linkages, endogenous capital accumulation). This enables us to provide analytical...
Persistent link: https://www.econbiz.de/10005114389
Cover Image
Trade and Entrepreneurship with Heterogeneous Workers
Oyama, Daisuke; Sato, Yasuhiro; Tabuchi, Takatoshi; … - C.E.P.R. Discussion Papers - 2007
leads to the stability and uniqueness of the symmetric equilibrium. …
Persistent link: https://www.econbiz.de/10005662268