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Staggered Price and Wage Setting in Macroeconomics
monetary policy monopolistic competition market clearing
2015/8/4
This chapter reviews the role of temporary price and wage rigidities in explaining of
the dynamic relationship between money, real output, and inflation. The key properties
to be explained are that ...
Low Inflation, Deflation, and Policies for Future Price Stability
Monetary policy Inflation Policy rule
2015/8/3
The effects of three different inflationary environments—high
inflation, low inflation, and negative inflation—on real output
stability are examined by looking at the experiences of Japan and the
U...
Designing Minimum-Risk Nonlinear Price Schedules for Water Utilities
Water Utilities Nonlinear Price Schedules
2015/7/31
This paper formulates and estimates a household-level demand for water under increasing
block prices that accounts for the impact of monthly weather variation and customer-level
heterogeneity in d...
This paper examines the empirical validity of a model of homogeneous input
demand under price uncertainty in which firms trade off expected input cost
against its variability (risk) in selecting t...
The Impact of Market Rules and Market Structure on the Price Determination Process in the England and Wales Electricity Market
Market Rules Market Structure
2015/7/31
This paper argues that the market rules governing the operation of the England and Wales
electricity market in combination with the structure of this market presents the two major
generators—Nationa...
Price-Cap Regulation and Its Use in Newly Privatized Industries
Price-Cap Regulation Newly Privatized Industries
2015/7/31
The goal of re-structuring electricity and natural gas industries is to introduce competition
wherever it is technologically feasible to provide firms supplying these products with strong incentives
...
Options for Short-Term Price Determination in the Brazilian Wholesale Electricity Market: Report Prepared for Camara de Comercialização de Energia Elétrica (CCEE)
Price Determination Brazilian Wholesale Electricity
2015/7/31
This report was commissioned by the Camara de Comercialização de Energia Elétrica
(CCEE), the market operator for the Brazilian electricity supply industry, to study the options for
shor...
An Essay on Price Discrimination.
Price and Advertising Signals of Product Quality
Price Advertising Signals Product Quality
2015/7/21
Price and Advertising Signals of Product Quality.
We develop a model in which firms set impersonal salary levels before matching
with workers. Wages fall relative to any competitive equilibrium while profits rise
almost as much, implyin...
The last decade has seen a burst of micro price studies. Many studies analyze data underlying national CPIs and PPIs. Others focus on more granular sub-national grocery store data. We review these stu...
Reset Price Inflation and the Impact of Monetary Policy Shocks
Reset prices inflation monetary policy
2015/7/20
Reset Price Inflation and the Impact of Monetary Policy Shocks.
POTENTIAL COMPETITION,LIMIT PRICING,AND PRICE ELEVATION FROM EXCLUSIONARY CONDUCT
LIMIT PRICING PRICE ELEVATION EXCLUSIONARY CONDUCT
2015/7/20
Economists have made important progress in recent years in building quantitative models of the strategic interaction of sellers in markets that are imperfectly competitive. One important type of model...
Governments determine the size of the unit of value just as they determine the length of the length and weight of physical units of measure. What are the different ways that a government can control t...
The first result is that the price of attention
for similar consumers is actually higher online
than offline. In 2008, newspapers earned $2.78
per hour of attention in print, and $3.79 per hour ...