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only known solution that satisfies core stability, strong aggegate monotonicity and null player out property in the class … of balanced games. The SD-prenucleolus is the only known solution that satisfies core stability continuity and is …
Persistent link: https://www.econbiz.de/10009364647
We examine the strategic use of Corporate Social Responsibility (CSR) in imperfectly competitive markets. The level of CSR determines the weight a firm puts on consumer surplus in its objective function before it decides upon supply. First, we consider symmetric Cournot competition and show that...
Persistent link: https://www.econbiz.de/10011659485
This paper studies how cartel stability is influenced by asymmetric information and communication about demand. Firms … its partners and another where it does not. We show that cartels are extremely unstable when the informed firm … communicates with the uninformed firms. However, when the informed firm does not communicate with the uninformed firms cartels can …
Persistent link: https://www.econbiz.de/10011110577
We develop a set of necessary and sufficient conditions for equilibria to be determinate in a class of forward-looking Markov-switching rational expectations models, and we develop an algorithm to check these conditions in practice. We use three examples, based on the new Keynesian model of...
Persistent link: https://www.econbiz.de/10010292280
the conditions for monetary policy to secure stability and determinacy of the model's equilibrium depend on the fiscal … rates, the range of values of the monetary policy parameter that ensures stability and determinacy change significantly. …
Persistent link: https://www.econbiz.de/10010295662
applications. It is of interest to characterize the L2-stability (stability of second moments) of solutions of SDDE. For the class …
Persistent link: https://www.econbiz.de/10010296486
The development of tractable forward looking models of monetary policy has lead to an explosion of research on the implications of adopting Taylor-type interest rate rules. Indeterminacies have been found to arise for some specifications of the interest rate rule, raising the possibility of...
Persistent link: https://www.econbiz.de/10010298274
This paper examines recent theoretical developments of the theory of coalition stability. It focuses on the …
Persistent link: https://www.econbiz.de/10011335673
. We characterize the class of TU-games that ensure the stability of the full cooperation structure, which turns out to be …
Persistent link: https://www.econbiz.de/10011335692
When indexation is endogenous price level targeting slightly adds to economic stability, contrary to widespread fears … to the contrary. The aggregate supply curve flattens and the aggregate demand curve steepens, increasing stability in the …
Persistent link: https://www.econbiz.de/10010322829