Showing 1 - 10 of 117
make investments before matching in a competitive market. We introduce the notion of premuneration values—the values to the …
Persistent link: https://www.econbiz.de/10011599491
(iii) the endogenously determined probability of matching. Using data from the National Longitudinal Study of Adolescent … Health, we estimate an equilibrium matching model of high school relationships. Variation in gender ratios is used to uncover … one's ideal relationship. The estimates show that some women would ideally not have sex, but do so out of matching …
Persistent link: https://www.econbiz.de/10011599696
upstream divisions. However, they fail to coordinate the investment decisions. We show that negotiations prevent such … increases in the number of parameters being subject to negotiations. …
Persistent link: https://www.econbiz.de/10010421350
of bargaining, where offers are made, with claim stages, where one side can commit to impose surrender on the other … both wrong. Bargaining proposals that are rejected initially might eventually be accepted after several periods of …
Persistent link: https://www.econbiz.de/10010317128
institutionalization. Concentrating on repo markets as the key funding sources for market-based banking, I demonstrate that new …
Persistent link: https://www.econbiz.de/10014503466
repo platform, with four different pre-defined collateral baskets. Each basket comprises different security categories …, such as government bonds or covered bonds. This paper analyzes the interest rate setting on the repo market with data from … June 1999 to June 2005. It evaluates, among others, if the securities provided as collateral influenced the repo rate or …
Persistent link: https://www.econbiz.de/10011933201
The implementation of monetary policy is prevalently done by interest rate targeting with a short term market rate serving as operational target. The instruments for achieving the operational target are the provision of reserves and the interest rate charged in these transactions. This paper...
Persistent link: https://www.econbiz.de/10011933294
With complete information, choice of one option over another conveys preference. Yet when search is incomplete, this is not necessarily the case. It may instead reflect unawareness that a superior alternative was available. To separate these phenomena, we consider non-standard data on the...
Persistent link: https://www.econbiz.de/10011599437
This paper quantitatively accounts for the cyclical dynamics of key macroeconomic housing and mortgage market variables using a tractable, search-theoretic model of housing with equilibrium mortgage default. To explain these dynamics, the model highlights the importance of liquidity spirals that...
Persistent link: https://www.econbiz.de/10011599701
The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor is equal across firms and industries. However, productivity dispersion is widely observed in the real economy. Search theory allegedly fills this gap by encompassing apparent...
Persistent link: https://www.econbiz.de/10010299171