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Persistent link: https://www.econbiz.de/10000390332
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at the same price, and it would enhance theinternal integration of the market for notes and bonds as wellas the …
Persistent link: https://www.econbiz.de/10005870027
affordability forhouseholds at the bottom of the income distribution. Real house prices at the lower end of the price distribution …
Persistent link: https://www.econbiz.de/10005870045
We consider a general equilibrium model with frictions in credit markets used by households. Inour economy, houses provide housing services to consumers and serve as collateral to lower borrowingcost.We show that this amplifies and propagates the effect of monetary policy shocks on...
Persistent link: https://www.econbiz.de/10005870369
coefficients of variation as well as panel data analysis on the causes of price differentials among city pairs. The results … tentatively confirm the hypothesis of the rise of a national market, as price differentials increased more after Unification in …
Persistent link: https://www.econbiz.de/10005870396
This paper develops data on the history of wages and prices in Beijing, Canton, Suzhou/Shanghai in China from the eighteenth century to the twentieth and compare them with leading cities in Europe, Japan and India in terms of nominal wages, the cost of living, and the standard of living. In the...
Persistent link: https://www.econbiz.de/10005870478
This study analyzes a two-country dynamic general equilibrium model with nominal rigidities,monopolistic competition and producer currency pricing. A quadratic approximation to the utility ofthe consumers is derived and assumed as the policy objective function of the policymakers.It is shown...
Persistent link: https://www.econbiz.de/10005871073
This paper provides a new theory of international capital ows. In a frameworkthat integrates factor-proportions-based trade and nancial capital ows, a novel forceemerges: capital tends to ow towards countries that become more specialized incapital-intensive industries. This `composition' eect...
Persistent link: https://www.econbiz.de/10008939839
This paper presents a two-country dynamic general equilibrium model with imperfectcompetition and nominal price …
Persistent link: https://www.econbiz.de/10009138464