Similar Search Results

Search, Costly Price Adjustment and the Frequency of Price Changes â€“ Theory and Evidence

Skrzypacz, Andrzej; Konieczny, Jerzy D. - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005090864

Search, Market Power, and Inflation Dynamics

Head, Allen; Lapham, Beverly - Society for Economic Dynamics - SED - 2006

The short-run non-neutrality of money and its implications for inflation dynamics are examined in a monetary search economy with heterogeneous agents. Lump-sum money injections affect the distribution of money holdings in equilibrium and thus generate short-run non-neutrality. The response of...

Persistent link: https://www.econbiz.de/10005051277

Strategic Trading with Market Closures

Boulatov, Alex; Livdan, Dmitry - Society for Economic Dynamics - SED - 2006

This paper analyzes the equilibrium trading strategies of informed traders in the presence of market closures defined as periodic predictable stops of trading. We construct a dynamic auction model based on rational strategic behavior with asymmetric information across the agents. Empirical...

Persistent link: https://www.econbiz.de/10005069340

Trading favors: optimal exchange and forgiveness.

Hopenhayn, Hugo A.; Hauser, Christine - Society for Economic Dynamics - SED - 2004

This paper characterizes optimal renegotiation proof public perfect equilibrium in a repeated partnership game. The model was originally introduced by Mobius. Players have random arrival of endowments which are privately observed that are more valued by the partner than the player receiving the...

Persistent link: https://www.econbiz.de/10005069463

Firm-Specific Training

Harris, Christopher; Felli, Leonardo - Society for Economic Dynamics - SED - 2004

This paper introduces two complementary models of firm-specific training: an informational model and a productivity-enhancement model. In both models, market provision of firm-specific training is inefficient. However, the nature of the inefficiency depends on the balance between the two key...

Persistent link: https://www.econbiz.de/10005069521

Industry Dynamics and Secondary Markets: Theory and Evidence from Commercial Aviation

Gavazza, Alessandro - Society for Economic Dynamics - SED - 2004

) a higher volatility of output; (2) a higher probability of exit; (3) a larger fraction of their fleet under lease. These … firm, this implies a larger volatility of the firm's output and inputs. We further show that more competitive markets … as follows. The transaction costs increase with the amount of inputs sold. A higher volatility of inputs increases the …

Persistent link: https://www.econbiz.de/10005090901

The Effects of Market Structure on Industry Growth

Koulovatianos, Christos; Mirman, Leonard J. - Society for Economic Dynamics - SED - 2004

We study the behavior of firms in an imperfectly competitive environment in which firms influence the evolution of the stock of capital equipment. Our model enables us, using analytical characterizations, to show the effect of key ingredients of dynamic competition on firm strategies and...

Persistent link: https://www.econbiz.de/10005027294

Estimating Dynamic Models of Imperfect Competition

Levin, J.; Bajari, P. - Society for Economic Dynamics - SED - 2004

We describe a two-step algorithm for estimating dynamic games under the assumption that behavior is consistent with Markov Perfect Equilibrium. In the first step, the policy functions and the law of motion for the state variables are estimated. In the second step, the remaining structural...

Persistent link: https://www.econbiz.de/10005027303

Slow(er) boom, sudden crash: Asymmetry on lending rates and financial frictions

Ordonez, Guillermo - Society for Economic Dynamics - SED - 2006

speed of crashes. Finally, by calibrating the model, we show that cross-country differences of asymmetry in lending rates …

Persistent link: https://www.econbiz.de/10005069288

Instruments of Monetary Policy

Adao, Bernardino; Correia, Isabel - Society for Economic Dynamics - SED - 2004

How can a particular allocation and prices be implemented? Under what conditions does a policy deliver a unique competitive equilibrium? How many degrees of freedom there are in the determination of the policy variables, or how many are the instruments of policy? In this paper we analyze a...

Persistent link: https://www.econbiz.de/10005085431