This paper develops data on the history of wages and prices in Beijing, Canton, Suzhou/Shanghai in China from the … eighteenth century to the twentieth and compare them with leading cities in Europe, Japan and India in terms of nominal wages … Europe. Real wages declined in China in the eighteenth and early nineteenth centuries and rose slowly in the late nineteenth …

This paper explores the influence of wage and price staggering on monetary persistence. Weshow that, for plausible … parameter values, wage and price staggering are complementary ingenerating monetary persistence. We do so by proposing the new …

policy in this setupimplies small deviations from price stability. The monetary authority optimally usesinflation as an … explicit tax on monopolistic profits to reduce the price markup acrossstates. Variable markup is achieved in this setup because …

Recent crises have seen very large spikes in asset price risk without dramatic shiftsin fundamentals. We propose an … assetprice and risk about the future asset price. This link implies that risk abouttomorrow’s asset price depends on uncertainty …

Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972)and further elaborated by Güth and Kliemt … decision makers is hardly discussed. Basedon guessing game experiments, we discuss the requirements of equilibrium theory …

Preis-Absatz-Funktion zu bestimmen. So soll es möglich werden, den gewinnoptimalen Preis exakter als bisher festzulegen …