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The Impact of Price Adjustment Costs on Price Dispersion in E-Commerce

Böheim, René - 2019

We analyze price dispersion using panel data from a large price comparison site. We use past pricing behavior to instrument for potential endogeneity that might result from the selection of firms to certain product markets. We find that greater price adjustment costs result in greater price...

Persistent link: https://www.econbiz.de/10012892080

Optimal Policy Under Dollar Pricing

Egorov, Konstantin - 2020

Recent empirical evidence shows that most international prices are sticky in dollars. This paper studies the optimal policy implications of this fact in the context of an open economy model, allowing for an arbitrary structure of asset markets, general preferences and technologies, time-or...

Persistent link: https://www.econbiz.de/10012834360

Monetary Policy, Price Setting, and Credit Constraints

Balleer, Almut - 2019

We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German producer price index. We find a strong degree of monetary non-neutrality. After expansionary monetary policy, the mass of additional price adjustments is economically small and...

Persistent link: https://www.econbiz.de/10012857905

Trade with Nominal Rigidities : Understanding the Unemployment and Welfare Effects of the China Shock

Rodríguez-Clare, Andrés; Ulate, Mauricio; Vasquez, Jose - 2022

We present a dynamic quantitative trade and migration model that incorporates downward nominal wage rigidities and show how this framework can generate changes in unemployment and labor participation that match those uncovered by the empirical literature studying the “China shock.” We find...

Persistent link: https://www.econbiz.de/10014244023

Does Crowd Support Drive the Home Advantage in Professional Soccer? Evidence from German Ghost Games During the Covid-19 Pandemic

Fischer, Kai - 2020

This paper examines the relation between crowd support and home advantage in professional football in making use of a … football divisions during the 2019/2020 season. We find that there is a reduced home advantage in the first division, whereas …

Persistent link: https://www.econbiz.de/10012822694

How Much Violence Does Football Hooliganism Cause?

Fabel, Marc G.; Rainer, Helmut - 2022

This paper quantifies how much of violent crime in society can be attributed to football-related violence. We study the … universe of professional football matches played out in Germany’s top three football leagues over the period 2011-2015. To … violent crimes on days with and without professional football matches while controlling for date heterogeneity, weather, and …

Persistent link: https://www.econbiz.de/10013312850

FTPL and the Maturity Structure of Government Debt in the New Keynesian Model

Liemen, Max Ole; Posch, Olaf - 2022

In this paper, we revisit the fiscal theory of the price level (FTPL) within the New Keynesian (NK) model. We show in …

Persistent link: https://www.econbiz.de/10014080233

Exchange Rate and Inflation Under Weak Monetary Policy : Turkey Verifies Theory

Gürkaynak, Refet S.; Kısacıkoğlu, Burçin; Lee, … - 2022

For the academic audience, this paper presents the outcome of a well-identified, large change in the monetary policy rule from the lens of a standard New Keynesian model and asks whether the model properly captures the effects. For policymakers, it presents a cautionary tale of the dismal...

Persistent link: https://www.econbiz.de/10014083478

Behavioral New Keynesian Models : Learning vs. Cognitive Discounting

Meggiorini, Greta; Milani, Fabio - 2021

This paper estimates a New Keynesian model with new and old behavioral elements. Agents in the model exhibit cognitive discounting, or myopia: they discount variables far into the future at higher rates than typically implied in the benchmark model. We investigate the model under different...

Persistent link: https://www.econbiz.de/10013229788

Micro Jumps, Macro Humps : Monetary Policy and Business Cycles in an Estimated Hank Model

Auclert, Adrien - 2020

We estimate a Heterogeneous-Agent New Keynesian model with sticky household expectations that matches existing microeconomic evidence on marginal propensities to consume and macroeconomic evidence on the impulse response to a monetary policy shock. Our estimated model uncovers a central role for...

Persistent link: https://www.econbiz.de/10012842965