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compared: one policy neglecting product substitution, and a new policy that decides on order quantities for all products … simultaneously meanwhile anticipating stock-outbased substitution. Both policies are analysed by simulation-based optimization … the case of one-way substitution a heuristic search procedure. The heuristic finds (nearly) optimal parameter values …
Persistent link: https://www.econbiz.de/10012428255
This paper studies the effect of monetary policy on inflation along the income distribution in several euro area countries. It shows that monetary policy has differential effects and identifies two channels which point in opposite directions. On the one hand, different consumption shares imply...
Persistent link: https://www.econbiz.de/10014478496
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