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competitive sectors—separately parameterized to match the same microdata on price flexibility—the oligopoly economy features a … parameters, output responses are five times larger. An oligopoly economy also (i) requires smaller menu costs and idiosyncratic … rationale for positive menu costs: in an oligopoly firms prefer a degree of rigidity to complete flexibility. Quantitatively …
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strategic effects of oligopoly from the effects this has on residual demand, we compare our model to one with monopolistic firms …
Persistent link: https://www.econbiz.de/10012481391
strategic effects of oligopoly from the effects this has on residual demand, we compare our model to one with monopolistic firms …
Persistent link: https://www.econbiz.de/10013295732
We study how the interaction of market power and nominal price rigidity influences inflation dynamics. We formulate a tractable model of oligopolistic competition and sticky prices and derive closed-form expressions for the pass-through of idiosyncratic and common cost shocks to firms' prices....
Persistent link: https://www.econbiz.de/10014562948
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Since the publication of Keynes' "General Theory of Employment, Interest, and Money" in 1936 many new ideas and …
Persistent link: https://www.econbiz.de/10008907265
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A new wave of technological innovations, often called 'fintech,' is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper sets out an economic framework for thinking through the channels by which fintech...
Persistent link: https://www.econbiz.de/10011713763
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