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Rapid price decreases for ICT-products in the 1990s have been largely attributed to the introduction of hedonic price … indexes. Would hedonic price indexing also have large effects on measured price and productivity during earlier technological … by 13.2 and 12.2 percent per year depending on whether hedonic or matched model price indexes were used. This indicates …
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New Keynesian models of monetary policy assign no role to monetary aggregates, in the sense that the level of output, prices, and interest rates can be determined without knowledge of the quantity of money. We evaluate the empirical validity of this prediction by studying the effects of shocks...
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We study the choice of drug for the treatment of high blood pressure (hypertension) in Sweden between 1988-1994. During this time period calcium antagonists and ACE-inhibitors increased their market shares at the expense of the older drugs diuretics and beta-blockers. We use a prescription micro...
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We consider a market-for-lemons model where the seller is a price setter, and, in addition to observing the price, the …
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