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In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept that plays the same role as pairwise stability in two-sided settings. We show that chain stability is equivalent to stability if all agents' preferences are jointly fully...
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We present determinacy bounds on monetary policy in the sticky information model. We find that these bounds are more … authority's concern for inflation. These determinacy bounds are obtained by appealing to frequency domain techniques that …
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