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countries and product categories, in the euro area over the last fifteen years. Our results show that the transmission of … the introduction of the euro caused a structural change in this transmission. Although estimated point elasticities seem … to have declined since the introduction of the euro, we find little evidence of a structural break in the transmission of …
Persistent link: https://www.econbiz.de/10012767524
. The main issue we focus on is how the euro may alter the responsiveness of consumer prices to exchange rate changes. Our … central conjectures is that the acceptance of the euro will lead European prices to become more insulated from exchange …
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Safe assets are demanded to smooth consumption across states (both intertemporally and in cross-section). Some of these assets are supplied publicly (government bonds) and some are created and supplied privately (such as mortgagebacked securities and asset-backed securities). Private assets are...
Persistent link: https://www.econbiz.de/10013087882
behavior in the car market. We show that a social planner can use leasing contracts to improve welfare but they are imperfect … tools; they cannot generally achieve first best while other mechanisms can. We also show that a producer with market power … can benefit from leasing contracts for two reasons: better pricing of the option of keeping the used good, and market …
Persistent link: https://www.econbiz.de/10012774893
utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and … the labor market. They then match based on the economic value of marriage and on preferences. Equilibrium in the marriage … market determines intrahousehold allocation of resources. Following marriage households (married or single) save, supply …
Persistent link: https://www.econbiz.de/10013024492
In a dynamic environment where underlying competition is "for the market," this paper examines what happens when … entrants and incumbents can instead negotiate for the market. For instance, this might arise when an entrant innovator can …
Persistent link: https://www.econbiz.de/10013046155
approximates Harris' (1954) market-potential function. The estimation results show how far demand linkages extend across space and …
Persistent link: https://www.econbiz.de/10013218094