Similar Search Results

Andini, Corrado - 2025

bank credit and the macro-players' propensities to accumulate money in a bank account. …

Persistent link: https://www.econbiz.de/10015338982

Inflation and welfare in long-run equilibrium with firm dynamics

Janiak, Alexandre; Monteiro, Paulo Santos - 2009

We analyze the welfare cost of inflation in a model with cash-in-advance constraints and an endogenous distribution of establishments' productivities. Inflation distorts aggregate productivity through firm entry dynamics. The model is calibrated to the United States economy and the long-run...

Persistent link: https://www.econbiz.de/10010269435

Hyperbolic discounting and positive optimal inflation

Graham, Liam; Snower, Dennis J. - 2011

The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...

Persistent link: https://www.econbiz.de/10010278393

Hyperbolic Discounting and the Phillips Curve

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2008

Using a standard dynamic general equilibrium model, we show that the interaction of staggered nominal contracts with hyperbolic discounting leads to inflation having significant long-run effects on real variables.

Persistent link: https://www.econbiz.de/10005763519

Monetary Persistence, Imperfect Competition, and Staggering Complementarities

Merkl, Christian; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2007

This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible parameter values, wage and price staggering are complementary in generating monetary persistence. We do so by proposing the new measure of "quantitative inertia," after discussing...

Persistent link: https://www.econbiz.de/10005822489

Inflation and Welfare in Long-Run Equilibrium with Firm Dynamics

Janiak, Alexandre; Monteiro, Paulo Santos - Institute for the Study of Labor (IZA) - 2009

Persistent link: https://www.econbiz.de/10008574592

Hyperbolic Discounting and Positive Optimal Inflation

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2011

Persistent link: https://www.econbiz.de/10009021640

On Market Forces and Human Evolution

Saint-Paul, Gilles - 2002

This paper studies how an institution such as markets affects the evolution of mankind. My key point is that the forces of natural selection are made weaker because trade allows people to specialize in those activities where they are strong, and to offset their weaknesses by purchasing adequate...

Persistent link: https://www.econbiz.de/10010262480

Is There Such a Thing as a Family Constitution? : A Test Based on Credit Rationing

Cigno, Alessandro; Giannelli, Gianna Claudia; Rosati, … - 2004

The paper aims to ascertain whether voluntary money transfers may be explained by the existence of self … family constitution, than if she is moved by either altruistic or exchange motivations. The circumstance is the presence of a … binding credit ration, which may raise the probability of making a money transfer (and the amount of money transferred) if a …

Persistent link: https://www.econbiz.de/10010273995

Asymmetry of Information within Family Networks

De Weerdt, Joachim; Genicot, Garance; Mesnard, Alice - 2014

exchange as motives to transfer. The model makes predictions about the correlations between misperceptions and transfers under … or an exchange motive with the recipient holding all the bargaining power. …

Persistent link: https://www.econbiz.de/10010398232