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Data breaches and identity theft
Roberds, William; Schreft, Stacey L. - 2008
This paper presents a monetary-theoretic model to study the implications of networks' collection of personal identifying data and data security on each other's incidence and costs of identity theft. To facilitate trade, agents join clubs (networks) that compile and secure data. Too much data...
Persistent link: https://www.econbiz.de/10010292313
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Credit and the no-surcharge rule
Monnet, Cyril; Roberds, William - 2006
A controversial aspect of payment cards has been the 'no-surcharge rule.' This rule, which is part of the contract between the card provider and a merchant, states that the merchant cannot charge a customer who pays by card more than a customer who pays by cash. In this paper we consider the...
Persistent link: https://www.econbiz.de/10010292352
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Frictional asset reallocation under adverse selection
Madison, Florian - 2018
The aim of this paper is to study asset reallocation in financial markets subject to search, bargaining, and … consequence, a positive liquidity differential between money and real assets emerges, resulting in an increased demand for fiat … money, as observed since the eruption of the global financial crisis. A policy intervention replacing information sensitive …
Persistent link: https://www.econbiz.de/10011969185
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Money Is the Root of Asset Bubbles
Awaya, Yu; Iwasaki, Kohei; Watanabe, Makoto - 2024
not created due to a hold-up problem. Monetary expansion increases buyers' money holdings, and then, dealers are willing …
Persistent link: https://www.econbiz.de/10014534470
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Monetary policy with imperfect signals: The target problem in a new monetarist approach
Draack, Hannes - 2018
information to the model of [Berentsen and Waller, 2011], a divide between an interest rate policy and a money stock policy …
Persistent link: https://www.econbiz.de/10011969207
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Limited higher order beliefs and the welfare effects of public information
Cornand, Camille; Heinemann, Frank - 2013
In games with strategic complementarities, public information about the state of the world has a larger impact on equilibrium actions than private information of the same precision, because the former is more informative about the likely behavior of others. This may lead to welfare-reducing...
Persistent link: https://www.econbiz.de/10010331131
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The optimal degree of monetary-discretion in a New Keynesian model with private information
Waki, Yuichiro; Dennis, Richard J.; Fujiwara, Ippei - In: Theoretical Economics 13 (2018) 3, pp. 1319-1368
This paper considers the optimal degree of monetary-discretion when the central bank conducts policy based on its private information about the state of the economy and is unable to commit. Society seeks to maximize social welfare by imposing restrictions on the central bank's actions over time,...
Persistent link: https://www.econbiz.de/10012010058
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Disinflations in Latin America and the Caribbean: A free lunch?
Hofstetter, Marc - 2004
This paper challenges the conventional view according to which disinflations in LAC-even from low and moderate peaks-have been carried out at no cost to output. After suggesting a new methodology that allows for long-lived effects and inflation inertia when measuring costs of disinflations,...
Persistent link: https://www.econbiz.de/10010293509
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Dependencies between Variables from the Area of the Monetary and Fiscal Policy in the European Union Countries
Stawska, Joanna - In: Comparative Economic Research. Central and Eastern Europe 24 (2021) 1, pp. 7-25
Research background: The core of coordinating a monetary and fiscal policy (policy mix) is based on combining both policies to achieve goals related to price stability, as well as economic growth and employment. In turn, the decisions of economic authorities in the monetary-fiscal game have a...
Persistent link: https://www.econbiz.de/10013204656
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Rational Expectations and the Stability of Balanced Monetary Development
Böhm, Volker - 2014
monetary effects on inflation and monetary growth determine the real value of money (or of government debt) in the long run …. Only positive stationary (constant) real values of money guarantees stationary positive levels of output and employment in …, and positive real value of money plus a stable nonmonetary one under hyperinflation (or a monetary bubble). Under the …
Persistent link: https://www.econbiz.de/10010396893