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Public good overprovision by a manipulative provider
Celik, Gorkem; Shin, Dongsoo; Strausz, Roland - 2020
We study contracting between a public good provider and users with private valuations of the good. We show that, once the provider extracts the users' private information, she benefits from manipulating the collective information received from all users when communicating with them. We derive...
Persistent link: https://www.econbiz.de/10012255849
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The choice of institutions to solve cooperation problems : a survey of experimental research
Dannenberg, Astrid; Gallier, Carlo - 2019
A growing experimental literature studies the endogenous choice of institutions to solve cooperation problems arising in prisoners' dilemmas, public goods games, and common pool resource games. Participants in these experiments have the opportunity to influence the rules of the game before they...
Persistent link: https://www.econbiz.de/10012010646
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Career concerns as public good : the role of signaling for open source software development
El-Komboz, Lena Abou; Goldbeck, Moritz - 2023
Much of today’s software relies on programming code shared openly online. Yet, it is unclear why volunteer developers contribute to open-source software (OSS), a public good. We study OSS contributions of some 22,900 developers worldwide on the largest online code repository platform, GitHub,...
Persistent link: https://www.econbiz.de/10014492182
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Monetary policies and low-frequency manifestations of the quantity theory
Sargent, Thomas J.; Surico, Paolo - 2008
inflation and money growth rates and interest rates and money growth rates. Like Whiteman (1984), we relate those scatter plots …
Persistent link: https://www.econbiz.de/10003803334
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Existence and uniqueness of solutions to dynamic models with occasionally binding constraints
Holden, Tom D. - 2022
Occasionally binding constraints (OBCs) like the zero lower bound (ZLB) can lead to multiple equilibria, and so to belief-driven recessions. To aid in finding policies that avoid this, we derive existence and uniqueness conditions for otherwise linear models with OBCs. Our main result gives...
Persistent link: https://www.econbiz.de/10013164715
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Safe asset shortage and collateral reuse
Jank, Stephan; Mönch, Emanuel; Schneider, Michael - 2021
The reuse of collateral can support the efficient allocation of assets in the financial system. Exploiting a novel dataset, we quantify banks’ collateral reuse at the security level. We show that banks substantially increase their reuse of collateral in response to scarcity induced by central...
Persistent link: https://www.econbiz.de/10012651538
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Asset prices, collateral, and unconventional monetary policy in a DSGE model
Hilberg, Björn; Hollmayr, Josef - 2013
bank can stabilize all variables at the cost of higher inflation and that macroeconomic volatility is smallest if the …
Persistent link: https://www.econbiz.de/10010192797
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A trendy approach to UK inflation dynamics
Forbes, Kristin; Kirkham, Lewis; Theordoridis, Konstantinos - 2017
This paper uses a "trendy" approach to understand UK inflation dynamics. It focuses on the time series to isolate a low …-frequency and slow-moving component of inflation (the trend) from deviations around this trend. We find that this slow-moving trend … explains a substantial share of UK inflation dynamics. International prices are significantly correlated with the short …
Persistent link: https://www.econbiz.de/10011664348
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What drives inflation? : disentangling demand and supply factors
Eickmeier, Sandra; Hofmann, Boris - 2022
number of inflation and real activity measures for the United States. We identify demand and supply factors by imposing … demand and supply over the past five decades. The most recent factor estimates indicate that the inflation surge since mid …
Persistent link: https://www.econbiz.de/10013460150
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Cybersecurity and financial stability
Anand, Kartik; Duley, Chanelle; Gai, Prasanna - 2022
Cyber attacks can impair banks operations and precipitate bank runs. When digital infrastructure is shared, banks defend themselves by investing in cybersecurity but can free-ride on the security measures of others. Ex ante free-riding by banks interacts with the ex post coordination frictions...
Persistent link: https://www.econbiz.de/10013164708