Showing 1 - 10 of 170
We are interested in evaluating the impact of restrictive planning regulation on entry into the UK grocery retail …
Persistent link: https://www.econbiz.de/10005788990
with a lowering of chain TFP by about 0.4% pa, about 40% of the post-1995 slowdown in UK retail TFP growth. The foregone …
Persistent link: https://www.econbiz.de/10005136776
We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging … literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We … order beliefs becomes a natural desideratum. We discuss recent approaches to robust mechanism design and robust …
Persistent link: https://www.econbiz.de/10005123850
model in which all individuals currently alive vote on social security. There is no commitment to preserve the legislation …
Persistent link: https://www.econbiz.de/10005497728
This Paper compares the social efficiency of monetary targeting and inflation targeting when central banks may have private information on shocks to money demand and, because of verifiability problems, the transparency solution is not feasible. Under inflation targeting and monetary targeting,...
Persistent link: https://www.econbiz.de/10005497735
optimal band width widens in response to a decrease in policy-makers' commitment reputation, an increase in the cost of …
Persistent link: https://www.econbiz.de/10005497847
under discretion or commitment, and rules that approximate optimal policy under commitment. For some reaction functions we …
Persistent link: https://www.econbiz.de/10005498187
competing auctions and competitive search continue to hold unaltered even without ex ante price commitment. …
Persistent link: https://www.econbiz.de/10011083306
Directed search models are market games in which each firm announces a wage commitment to attract a worker … commitments to fill their vacancies faster, which yields constrained efficient outcomes. We show that commitment is not essential … subsequent wage-formation stage. The insights from existing commitment models extend unchanged to such a cheap-talk environment …
Persistent link: https://www.econbiz.de/10011083578
Bailout expectations have led banks to behave imprudently, holding too little capital and relying too much on short term funding to finance long term investments. This paper presents a model to rationalize a constructive ambiguity approach to liquidity assistance as a solution to forbearance....
Persistent link: https://www.econbiz.de/10011083609