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. 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 …
Persistent link: https://www.econbiz.de/10012471402
Persistent link: https://www.econbiz.de/10011410545
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We consider nonparametric identification in models of differentiated products markets, using only market level … models widely used in applied work. We allow for product/market-specific unobservables, endogenous product characteristics (e …
Persistent link: https://www.econbiz.de/10012463009
In recent years, some English critics have claimed that Damien Hirst and his fellow young British artists have made London the new center of the advanced art world. As Hirst reaches the age of 40, this paper uses auction results to measure the importance of the YBAs compared to their American...
Persistent link: https://www.econbiz.de/10012466957
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/10012472232
the demand and suppoly for labor-intensive care. Many economists have argued that aging will raise the market demand for … long-term care, and hence price and quantity through classic market effects. We argue that the direct effect of aging is to … lower the demand for market care by incresing the supply of home production. By influencing the length of frail lifetimes …
Persistent link: https://www.econbiz.de/10012472261
approximates Harris' (1954) market-potential function. The estimation results show how far demand linkages extend across space and …
Persistent link: https://www.econbiz.de/10012472379
This paper develops an approach to measuring the intensity of competition in international markets. The method measures the degree of 'outside' competition faced by exporters located in one source country from firms located outside the source country. We use the elasticity of price and quantity...
Persistent link: https://www.econbiz.de/10012473651
This paper aims to refine and enrich the empirical literature dealing with the sensitivity of alcohol consumption and excessive consumption to differences in the prices of alcoholic beverages. The main refinement pertains to the incorporation of insights provided by a model of rational addictive...
Persistent link: https://www.econbiz.de/10012473679