Showing 1 - 10 of 320
This paper examines whether the Mortensen-Pissarides matching model can account for the housing markets facts, most of all the empirical anomaly known as ‘price dispersion’. Our main finding is that the model can account for the three basic facts of housing market, without any restrictive...
Persistent link: https://www.econbiz.de/10011524919
This paper examines the effects of seller uncertainty over their home value on the housing market. Using evidence from a new dataset on home listings and transactions, I first show that sellers do not have full information about current period demand conditions for their homes. I incorporate...
Persistent link: https://www.econbiz.de/10013064855
Standard program evaluations implicitly assume that individuals are perfectly informed about the considered policy change and the related institutional rules. This seems not very plausible in many contexts, as diverse examples show. However, evidence on how incomplete information affects the...
Persistent link: https://www.econbiz.de/10012436245
Most empirical studies on price setting that use micro data focus on advanced industrial countries. In this paper we analyze the experience of an emerging economy, Slovakia, using a large micro-level dataset that accounts for a substantial part of the consumer price index (about 5 million...
Persistent link: https://www.econbiz.de/10003790192
Employing a unique dataset that covers almost 6000 informal enterprises from six West African urban centers, this paper examines the backward and forward linkages of these enterprises to the formal sector. We first provide a descriptive analysis of the existing formal-informal linkages. It turns...
Persistent link: https://www.econbiz.de/10009425523
This paper studies asymmetric price responses of individual firms, via daily retail prices of almost all gasoline stations in the Netherlands and suggested prices of the five largest oil companies over more than two years. I find that 38% of the stations respond asymmetrically to changes in the...
Persistent link: https://www.econbiz.de/10011379452
Firms adjust to differences in market size and demand uncertainty by changing the frequency and size of their export shipments. In our inventory model, transportation costs and optimal shipment frequency are determined on the basis of demand as well as inventory and per shipments costs. Using a...
Persistent link: https://www.econbiz.de/10010338670
Historical anecdotes of new investors being drawn into a booming asset market, only to suffer when the market turns, abound. While the role of investor contagion in asset bubbles has been explored extensively in the theoretical literature, causal empirical evidence on the topic is virtually...
Persistent link: https://www.econbiz.de/10011524199
Studies employing micro price data to examine the extent of international goods market integration tend to find that borders induce arbitrage-impeding transaction costs which contribute to segment national markets. Analyzing household scanner price data from the three euro area countries...
Persistent link: https://www.econbiz.de/10011532880
An astonishing 33% of all firm-product-destination export spells in Danish data turn out to be isolated single-month one-off export events (observed once in a 49 month window). On average, for an export-active firm, such one-off exports account for 17% of total foreign sales. These patterns...
Persistent link: https://www.econbiz.de/10011566510