Narrow search
Showing 1 - 10 of 1,825
Cover Image
Financial Frictions and Inflation Differentials in a Monetary Union
Hristov, Nikolay - 2010
This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …
Persistent link: https://www.econbiz.de/10013136243
Cover Image
The Impact of Monetary Strategies on Inflation Persistence
Kočenda, Evžen - 2017
We analyze the impact of price stability-oriented monetary strategies (inflation targeting — IT — and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993–2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …
Persistent link: https://www.econbiz.de/10012962672
Cover Image
The Price Puzzle Revisited : Can the Cost Channel Explain a Rise in Inflation after a Monetary Policy Shock?
Henzel, Steffen - 2013
restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …
Persistent link: https://www.econbiz.de/10012753889
Cover Image
Generalized Taylor and Generalized Calvo Price and Wage-Setting : Micro Evidence with Macro Implications
Dixon, Huw David - 2013
found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …
Persistent link: https://www.econbiz.de/10013094533
Cover Image
Even Small Trade Costs Restore Efficiency in Tax Competition
Becker, Johannes - 2010
We introduce transport cost of trade in products into the classical Zodrow and Mieszkowski (1986) model of capital tax competition. It turns out that even small levels of transport cost lead to a complete breakdown of the seminal result, the underprovision of public goods. Instead, there is a...
Persistent link: https://www.econbiz.de/10013136648
Cover Image
Multimarket Linkages, Cartel Discipline and Trade Costs
Agnosteva, Delina - 2018
We build a model of tacit collusion between firms that operate in multiple markets to study the effects of trade costs. A key feature of the model is that cartel discipline is endogenous. Thus, markets that appear segmented are strategically linked via the incentive compatibility constraint....
Persistent link: https://www.econbiz.de/10012926563
Cover Image
Multi-Pollutant Point-Nonpoint Trading with Participation Decisions : The Role of Transaction Costs
Reeling, Carson - 2018
High transaction costs and thin participation plague water quality trading and prevent markets from delivering expected efficiency gains. Point sources generate a single pollutant, while nonpoint sources generate multiple, complementary pollutants. We develop a dynamic search model of...
Persistent link: https://www.econbiz.de/10012911045
Cover Image
Trade Cost Reduction and Foreign Direct Investment in a Vertical Structure
Haque, M. Emranul - 2017
Although empirical evidence shows that a lower trade cost and higher FDI may go hand in hand, the well-known “proximity-concentration” hypothesis does not support this view. We provide a simple explanation for this phenomenon. We show that a lower trade cost on the intermediate goods (with...
Persistent link: https://www.econbiz.de/10012943399
Cover Image
Free-Riding or Internalizing? An Opportunistic View on Decentralization versus Centralization
Fiorillo, Fabio - 2011
comparing decentralized and centralized system. As in the recent Second Generation Theory (SGT) of fiscal federalism (Seabright … production cost of the public good in each region, a different trade-off - from the traditional and new theory of fiscal …
Persistent link: https://www.econbiz.de/10013130419
Cover Image
Channel Systems : Why is There a Positive Spread?
Berentsen, Aleksander - 2010
An increasing number of central banks implement monetary policy via two standing facilities: a lending facility and a deposit facility. In this paper we show that it is socially optimal to implement a non-zero interest rate spread. We prove this result in a dynamic general equilibrium model...
Persistent link: https://www.econbiz.de/10013135781