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Digitalization : prices of goods and services
Chu, Vivian; Dahlhaus, Tatjana; Hajzler, Christopher - 2023
digital goods and services in the consumer price index (CPI) basket. Then we discuss indirect channels related to automation … and cost reduction as well as competition and markup. We also review the rise of e-commerce and how it can affect price …
Persistent link: https://www.econbiz.de/10014392978
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Bank Deposit Pricing in Competitive Oligopoly When Breaking Through the Zero Lower Bound
Bloechlinger, Andreas - 2020
Low key rates hurt the profits of deposit-taking institutions in a differentiated Bertrand game if there is neither a tax on banknotes, nor a limit on its quantity, nor a reduction of its quality. By making the electronic dollar the unit of account and taxing paper currency, the central bank can...
Persistent link: https://www.econbiz.de/10012856188
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Money Talks : Information and Seignorage
Guennewig, Maxi - 2022
This paper analyses the consequences for monetary policy in the presence of currencies issued by firms. Such currencies generate seignorage revenues and information on consumers. In a benchmark model of imperfectly competing firms, information breaks the usual portfolio indeterminacy as in...
Persistent link: https://www.econbiz.de/10013322561
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Credible Delegation
Corts, Kenneth S.; Neher, Darwin V. - 2006
We show that the vertical delegation of decision-making authority to agent firms can act as a credible strategic commitment even when contracts are unobservable (or renegotiable) if and only if multilateral delegation is combined with decentralized ownership of the agent firms. In this case, the...
Persistent link: https://www.econbiz.de/10014027325
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Optimal monetary policy with endogenous entry and product variety
Bilbiie, Florin Ovidiu; Fujiwara, Ippei; Ghironi, Fabio - 2011
Persistent link: https://www.econbiz.de/10009377389
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Firm entry, markups and the monetary transmission mechanism
Lewis, Vivien; Poilly, Céline - In: Journal of monetary economics 59 (2012) 7, pp. 670-685
Persistent link: https://www.econbiz.de/10009702514
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Optimal Monetary Policy with Endogenous Entry and Product Variety
Bilbiie, Florin - 2011
entry and product variety in a sticky-price model with monopolistic competition in which price stability would be optimal in … percent or higher. Price indexation implies even larger deviations from long-run price stability. However, price stability … (around this non-zero trend) is close to optimal in the short run, even in the presence of time-varying flexible-price markups …
Persistent link: https://www.econbiz.de/10013119776
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Optimal monetary policy with endogenous entry and product variety
Bilbiie, Florin Ovidiu; Fujiwara, Ippei; Ghironi, Fabio - 2011
entry and product variety in a sticky-price model with monopolistic competition in which price stability would be optimal in … percent or higher. Price indexation implies even larger deviations from long-run price stability. However, price stability … (around this non-zero trend) is close to optimal in the short run, even in the presence of time-varying flexible-price markups …
Persistent link: https://www.econbiz.de/10009317643
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Optimal monetary policy with endogenous entry and product variety
Bilbiie, Florin Ovidiu; Fujiwara, Ippei; Ghironi, Fabio - 2011
Persistent link: https://www.econbiz.de/10009355173
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Staggered price setting, Bertrand competition and optimal monetary policy
Etro, Federico; Rossi, Lorenza - 2014
Persistent link: https://www.econbiz.de/10011632024