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On the importance of sales for aggregate price flexibility
Kryvtsov, Oleksiy; Vincent, Nicolas - 2014
Macroeconomists have traditionally ignored the behavior of temporary price markdowns ("sales") by retailers. Although … sales are common in the micro price data, they are assumed to be unrelated to macroeconomic phenomena and generally filtered … out. We challenge this view. First, using the 1996 - 2012 data set of the U.K. CPI monthly price quotes, we document a …
Persistent link: https://www.econbiz.de/10010418254
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Vertical Differentiation in Monetary Search-Theorectic Models-Revisited
Chang, Chia-Ying - 2010
In this article, the discussion on quality levels in the monetary search theoretical model is extended. By having quality levels endogenously determined, we found that whether money holders have quality preferences is crucial to the results. While the effect of the fraction of money on quality...
Persistent link: https://www.econbiz.de/10013149151
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Inattentiveness
Reis, Ricardo - 2004
Persistent link: https://www.econbiz.de/10003387334
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Bank capital regulation in a zero interest environment
Döttling, Robin - 2020
How do near-zero interest rates affect optimal bank capital regulation and risk-taking? I study this question in a dynamic model, in which forward-looking banks compete imperfectly for deposit funding, but households do not accept negative deposit rates. When deposit rates are constrained by the...
Persistent link: https://www.econbiz.de/10012241108
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Optimal Monetary Provisions in Plural Form Franchise Systems : A Theoretical Model of Incentives with Two Risk-Averse Agents
Lanchimba, Cintya - 2013
Empirical studies show that most franchise chains use dual distribution - or a plural form franchise system - characterized by the coexistence of franchised units and company-owned retail units in the same distribution network. Therefore, this paper focuses on dual distribution and considers the...
Persistent link: https://www.econbiz.de/10014157197
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Central bank transparency and the signal value of prices
Morris, Stephen; Shin, Hyun Song - In: Brookings papers on economic activity : BPEA (2005) 2, pp. 1-66
Persistent link: https://www.econbiz.de/10003308818
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Fairness and the disinflation puzzle
Lunardelli, Andre - 2014
Following Driscoll and Holden (2004), I model forward-looking workers who consider it unfair if a wage adjustment fails to match past inflation. However, the present paper proposes a much larger effect by using the job finding rate as the measure of workers' opportunities outside the firm rather...
Persistent link: https://www.econbiz.de/10010379902
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Preferences, nominal rigidities, and monetary policy
Ahrens, Steffen - 2014
Persistent link: https://www.econbiz.de/10010255584
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Inequality aversion and the long-run effectiveness of monetary policy : bilateral versus group comparison
Ahrens, Steffen - 2012
the long-run. -- Price stickiness ; long-run Phillips curve ; inequality aversion …
Persistent link: https://www.econbiz.de/10009671657
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Essays in empirical finance
Fürth, Sven - 2014
Persistent link: https://www.econbiz.de/10010394115