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Contracts Model with a Constant Nominal Wage over the Course of a Contract Generates Persistent Negative Effects of Demand … Relaxed. Finally, When the Nominal Wage Is Allowed to Vary During a Contract the Staggered Contracts Model Is Unable to …
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This Paper Provides a Rationale for the Difference Between Contract and Spot Prices Which Is Not Based on Risk Aversion But on Price Discrimination. We Model the Behaviour of a Large Buyer Who Groups an Advance Delivery Contract for Part of His Requirements. His Remaining Purchases Are Executed...
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Variability, Contrary to the Conventional Wisdom of Models with Staggered Contracts and Rational Expectations. This Phenomenon Is …
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