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compared to the increase in competitive pressure due to entry, the competition-enhancing effect of a forward market is weaker … than predicted. -- Cournot Competition ; Forward Markets ; Spot Markets ; Experiments …
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In the text-book model of dynamic Bertrand competition, competing firms meet the same demand function every period …. -- Bertrand competition ; Coase conjecture ; dynamic oligopoly ; stochastic games …
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The central bank's optimal objective function is analyzed in a small open economy model allowing for incomplete exchange rate pass-through. The results indicate that social welfare can only be marginally improved by including an explicit exchange-rate term in the delegated objective function,...
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The performance of various monetary rules is investigated in an open economy with incomplete exchange rate pass-through. Implementing monetary policy through an exchange-rate augmented policy rule does not improve social welfare compared to using an optimized Taylor rule, irrespective of the...
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