Search Results - subject:"IMPERFECT COMPETITION"

Optimal Interest Rate Policy in a Small Open Economy

Parrado, Eric; Velasco, Andrés - 2021

with imperfect competition and short run price rigidity. The optimal monetary policy has an exact closed-form solution and …

Persistent link: https://www.econbiz.de/10013230368

Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets

Rotemberg, Julio; Woodford, Michael - 2021

neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of … imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations … numerical calibration of imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect …

Persistent link: https://www.econbiz.de/10013232158

Financial Conditions, Local Competition, and Local Market Leaders : The Case of Real Estate Developers

Fan, Ying; Leung, Ka Yui; Yang, Zan - 2021

This paper studies whether (and how) corporate decisions are affected by internal factors (such as the financial conditions of own company) and external factors (such as the actions of local competitors) in an imperfectly competitive environment. We study the listed real estate developers in...

Persistent link: https://www.econbiz.de/10013232289

A Critical Assessment of the Role of Imperfect Competition in Macroeconomics

Carlton, Dennis W. - 2021

New Keynesian models and some models of growth rely on market power for their results. This sole focus on market power as the source for certain macroeconomic phenomena is misguided both theoretically and empirically. New Keynesian multipliers are closely related to standard measures of...

Persistent link: https://www.econbiz.de/10013232435

Competition and Selection in Credit Markets

Yannelis, Constantine; Zhang, Anthony Lee - 2021

subprime credit markets. We present a model of lending markets with imperfect competition, adverse selection and costly lender …

Persistent link: https://www.econbiz.de/10013215080

Competition and Selection in Credit Markets

Yannelis, Constantine; Zhang, Anthony Lee - 2021

subprime credit markets. We present a model of lending markets with imperfect competition, adverse selection and costly lender …

Persistent link: https://www.econbiz.de/10013217578

Perfect Taxation with Imperfect Competition

Auerbach, Alan J.; Hines, James R. - 2021

render outcomes efficient in the presence of imperfect competition. Relaxing either of these two conditions removes the … presence of imperfect competition. When governments have uncertain knowledge of the degree of competition in product markets …

Persistent link: https://www.econbiz.de/10013211642

Imperfect Competition as a Result of Unawareness

R. Guthmann, Rafael - 2021

This paper develops a dynamic model of price competition where buyers have constrained consideration sets due to unawareness. Awareness evolves over time and is influenced by word-of-mouth: if more buyers choose to shop at one seller, then unaware buyers are more likely to discover that seller....

Persistent link: https://www.econbiz.de/10013212751

Green innovation downturn : the role of imperfect competition

Aïd, René; Bahlali, Mohamed; Creti, Anna - 2021

We use strategic interactions to analyze the role of China's state-subsidized production expansion in the recent downturn in solar photovoltaics innovation. To that end, we develop a dynamic game model in which N solar panel manufacturers compete in price and invest in cost-reducing research....

Persistent link: https://www.econbiz.de/10013323766

A Model of Retail Banking and the Deposits Channel of Monetary Policy

Choi, Michael; Rocheteau, Guillaume - 2021

We develop a dynamic, search-theoretic model of bank deposit and loan markets where relationships are bilateral, the demand for liquid assets is microfounded, and consumers are privately informed about their liquidity needs. As the policy rate rises, the deposit spread widens, and aggregate...

Persistent link: https://www.econbiz.de/10013216021