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Sticky Prices in the Euro Area: a Summary of New Micro Evidence

Álvarez, L. J.; Dhyne, E.; Hoeberichts, M.; Kwapil, C.; … - de Nederlandsche Bank - 2005

This paper presents original evidence on price setting in the euro area at the individual level. We use micro data on … sticky and more so than in the US; (ii) there is evidence of heterogeneity and of asymmetries in price setting behaviour …; (iii) downward price rigidity is only slightly more marked than upward price rigidity and (iv) implicit or explicit …

Persistent link: https://www.econbiz.de/10005021824

Microfoundations of Two-sided Markets: The Payment Card Example

McAndrews, James; Wang, Zhu - de Nederlandsche Bank - 2007

light on the puzzle of asymmetric pricing. …

Persistent link: https://www.econbiz.de/10005021829

Must-Take Cards and the Tourist Test

Rochet, Jean-Charles; Tirole, Jean - de Nederlandsche Bank - 2007

Antitrust authorities often argue that merchants cannot reasonably turn down payment cards and therefore are forced to accept unacceptably high merchant discounts. The paper attempts to shed light on this must-take cards view from two angles. First, the paper gives some operational content to...

Persistent link: https://www.econbiz.de/10005021836

Credit in a Tiered Payments System

Lai, Alexandra; Chande, Nikil; O'Conner, Sean - de Nederlandsche Bank - 2007

Payments systems are typically characterized by some degree of tiering, with upstream firms (clearing agents) providing settlement accounts to downstream institutions that wish to clear and settle payments indirectly in these systems (indirect clearers). Clearing agents provide their indirect...

Persistent link: https://www.econbiz.de/10005021840

Does Competition Enhancement Have Permanent Inflation Effects?

Cavelaars, P. - de Nederlandsche Bank - 2002

This paper presents evidence that a higher degree of product market competition leads to a permanently lower inflation rate. Among a broad set of possible candidate variables, the indicator for product market competition used in this paper (the markup) is superior in explaining inflation...

Persistent link: https://www.econbiz.de/10005030243

Card acceptance and surcharging: the role of costs and competition

Jonker, Nicole - de Nederlandsche Bank - 2011

The payment cards market is a two-sided market. Cost sensitivity of both consumers and merchants for card services influences total demand. Survey data of Dutch merchants shows that costs, and competition affect acceptance as well as surcharging decisions. Merchants who find payment cards...

Persistent link: https://www.econbiz.de/10009144149

Retail Payments in the Netherlands: some Facts and Some Theory

Bolt, W. - de Nederlandsche Bank - 2003

market imperfections touch upon transparancy of pricing consumer payment services, infrastructural arrangements, organisation …

Persistent link: https://www.econbiz.de/10005106713

Global vs.Local Competition

Legros, Patrick; Stahl, Konrad - de Nederlandsche Bank - 2003

on prices is much less clear. While increased global competition yields a price reduction under monopoly, prices may …

Persistent link: https://www.econbiz.de/10005106781

Price Setting Behaviour in the Netherlands: Results of a Survey

Hoeberichts, Marco; Stokman, Ad - de Nederlandsche Bank - 2005

important sources of price stickiness. Menu costs and psychological pricing - two prominent explanations of price stickiness in …This paper presents the results of a survey among Dutch firms on price setting behaviour in the Netherlands. It aims to … and the competitive environment it faces. Small firms in particular adopt more rigid pricing policies, and the weaker the …

Persistent link: https://www.econbiz.de/10009319249

The Pricing Behaviour of Firms in the Euro Area New Survey Evidence

Fabiana, S.; Druant, M.; Hernando, I.; Kwapil, C.; … - de Nederlandsche Bank - 2005

statedependence. The majority of firms take into account past and expected economic developments in their pricing decisions. Price …This study investigates the pricing behaviour of firms in the euro area on the basis of surveys conducted by nine … in monopolistically competitive markets, where prices are mostly set following markup rules and where price …

Persistent link: https://www.econbiz.de/10009320229