Showing 101 - 110 of 4,896
We study the gains from trade in a model with endogenously variable markups. We show that the pro-competitive gains from trade are large if the economy is characterized by (i) extensive misallocation, i.e., large inefficiencies associated with markups, and (ii) a weak pattern of cross-country...
Persistent link: https://www.econbiz.de/10012460618
This paper studies endogenous information manipulation in games where a population can overthrow a regime if individuals coordinate. The benchmark game has a unique equilibrium and in this equilibrium propaganda is effective if signals are sufficiently precise. Despite playing against perfectly...
Persistent link: https://www.econbiz.de/10014222997
This paper presents a model of information quality and political regime change. If enough citizens act against a regime, it is overthrown. Citizens are imperfectly informed about how hard this will be and the regime can, at a cost, engage in propaganda so that at face-value it seems hard. The...
Persistent link: https://www.econbiz.de/10014048199
Coe and Helpman (1995) estimated a relationship between TFP and levels of domestic and foreign R&D capital, but couldn't provide compelling evidence of the panel cointegration needed to support their estimation strategy. This paper uses Pedroni's (1997, 1998) tests for panel cointegration in...
Persistent link: https://www.econbiz.de/10014036188
Persistent link: https://www.econbiz.de/10014317394
We exposit the link between money, velocity and prices in an inventory-theoretic model of the demand for money and explore the extent to which such a model can account for the short-run volatility of velocity, the negative correlation of velocity and the ratio of money to consumption, and the...
Persistent link: https://www.econbiz.de/10013227900
We exposit the link between money, velocity and prices in an inventory-theoretic model of the demand for money and explore the extent to which such a model can account for the short-run volatility of velocity, the negative correlation of velocity and the ratio of money to consumption, and the...
Persistent link: https://www.econbiz.de/10005720496
Persistent link: https://www.econbiz.de/10005821300
We examine the responses of prices and inflation to monetary shocks in an inventory-theoretic model of money demand. We show that the price level responds sluggishly to an exogenous increase in the money stock because the dynamics of households' money inventories leads to a partially offsetting...
Persistent link: https://www.econbiz.de/10008517910
Persistent link: https://www.econbiz.de/10005101717