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The computerization of retailing has made price dispersion a norm in the United States, so that any given list price or transactions price is an increasingly imperfect measure of a product's resource cost. As a consequence, measuring the real output of retailers has become increasingly...
Persistent link: https://www.econbiz.de/10005717410
The computerization of retailing has made price dispersion a norm in the United States, so that any given list price or transactions price is an increasingly imperfect measure of a product's resource cost. As a consequence, measuring the real output of retailers has become increasingly...
Persistent link: https://www.econbiz.de/10005512281
Persistent link: https://www.econbiz.de/10005512341
Persistent link: https://www.econbiz.de/10005512350
scale economies using two production models. The standard risk-neutral model finds little evidence of scale economies. The … model using more general risk preferences and endogenous risk-taking finds large scale economies. The authors show that …
Persistent link: https://www.econbiz.de/10009216228
The authors study, theoretically and quantitatively, the general equilibrium of an economy in which households smooth consumption by means of both a riskless asset and unsecured loans with the option to default. The default option resembles a bankruptcy filing under Chapter 7 of the U.S....
Persistent link: https://www.econbiz.de/10004967545
efficient risk-sharing, negatively correlated with relative consumptions across countries. This paper shows that a model with … international transmission of productivity shocks generate the observed degree of risk-sharing: one associated with an improvement … transmission pattern. These findings are at odds with the presumption that terms-of-trade movements foster international risk-pooling. …
Persistent link: https://www.econbiz.de/10005387460
Persistent link: https://www.econbiz.de/10005387495
We develop a model of banking industry dynamics to study the quantitative impact of capital requirements on bank risk …
Persistent link: https://www.econbiz.de/10010762571
their perceived risk. We develop a dynamic stochastic general equilibrium model with the aim of verifying how sensible this …
Persistent link: https://www.econbiz.de/10010633802