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Price variability and price dispersion in a stable monetary environment : evidence from German retail markets
Fengler, Matthias R.; Winter, Joachim - 2000
We investigate the relationship between inflation and price variation using highly disaggregated, weekly price data for … rates of price change and price dispersion, both at the level of individual products and product groups. However, we find no … correlation between the rates of price change and price variability. Together with results from similar studies, Tommasi (1993 …
Persistent link: https://www.econbiz.de/10009612033
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Sticky information vs. sticky prices : a horse race in a DSGE framework
Trabandt, Mathias (contributor) - 2003 - [Elektronische Ressource], rev
Persistent link: https://www.econbiz.de/10001916974
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The influence of inventory effects and reference points on the rate of consumption
Bell, David R.; Boztuğ, Yasemin - 2001 - Rev.
The authors develop and test a model to study the influence of inventory-on-hand and price-based reference points on … positive and negative deviations from category price expectations. The model is estimated on eleven product categories. The …
Persistent link: https://www.econbiz.de/10009615422
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Preemption in capacity and price determination : a study of endogenous timing of decisions for homogeneous markets
Güth, Sandra; Güth, Werner - 1998 - Rev.
The theory of industrial organization has experienced an impressive boom by using the methods of (non-cooperative) game … theory. The conclusions depend, however. crucially on subtle details of the market decision processes about which there exist … as in price determination. Since preemption means to decide before the random choice of cost parameters reflecting the …
Persistent link: https://www.econbiz.de/10009578566
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Structural vector autoregressive models and monetary policy analysis
Holtemöller, Oliver - 2002
possibility is to adopt restrictions from economic theory. The purpose of this paper is to investigate the implications of the …
Persistent link: https://www.econbiz.de/10009620773
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Low-probability insurance decisions : the role of concern
Schade, Christian D.; Kunreuther, Howard; Kaas, Klaus Peter - 2002
On the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding the estimate. Concern is still important when...
Persistent link: https://www.econbiz.de/10009621421
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The false consensus effect disappears if representative information and monetary incentives are given
Engelmann, Dirk; Strobel, Martin - 1999
In this paper we present an experiment on the false consensus effect. Unlike previous experiments, we provide monetary incentives for revealing the actual estimation of others' behavior. In each session and round sixteen subjects make a choice between two options simultaneously. Then they...
Persistent link: https://www.econbiz.de/10009581106
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Lag selection in subset VAR models with an application to a US monetary system
Brüggemann, Ralf; Lütkepohl, Helmut - 2000
Alternative modeling strategies for specifying subset VAR models are considered. It is shown that under certain conditions a testing procedure based on t-ratios is equivalent to sequentially eliminating lags that lead to the largest improvement in a prespecified model selection criterion. A...
Persistent link: https://www.econbiz.de/10009583885
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A fractionally integrated model with a mean shift for the US and the UK real oil prices
Gil-Alaña, Luis A. - 2000
In this article we model the log of the U.S. and the U.K. real oil prices in terms of fractionally integrated processes with a mean shift. We use different versions of the tests of Robinson (1994), which have standard null and local limit distributions. The results indicate that if we model the...
Persistent link: https://www.econbiz.de/10009611543
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Modeling the US short-term interest rate by mixture autoregressive processes
Lanne, Markku; Saikkonen, Pentti - 2000
A new kind of mixture autoregressive model with GARCH errors is introduced and applied to the U.S. short-term interest rate. According to the diagnostic tests developed in the paper and further informal checks the model is capable of capturing both of the typical characteristics of the...
Persistent link: https://www.econbiz.de/10009612047