Showing 1 - 10 of 47
We analyze how trade affects aggregate volatility using a multi-country, multiindustry, and multi-destination framework. We decompose aggregate output growth risk into destination risk, origin risk, and idiosyncratic risk (and their covariances). We then use this framework to run counterfactuals...
Persistent link: https://www.econbiz.de/10014347773
Persistent link: https://www.econbiz.de/10011520555
Persistent link: https://www.econbiz.de/10001604705
Persistent link: https://www.econbiz.de/10001768874
Persistent link: https://www.econbiz.de/10001667712
Persistent link: https://www.econbiz.de/10001794138
Persistent link: https://www.econbiz.de/10001525751
This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers and uncoordinated buyers. Sellers’ search intensity attracts buyers only probabilistically through costly informative advertisement. Equilibrium prices and profit maximizing...
Persistent link: https://www.econbiz.de/10014044654
This paper examines how the composition of tax revenues affects monetary and fiscal policy interactions. To do so, we consider an environment where households' wages and interest income as well as firms' profits are taxed. To implement policy, the government follows a Taylor rule and a fiscal...
Persistent link: https://www.econbiz.de/10014082666
Do financial innovations benefit or harm expected welfare? For innovations that provide greater access to banks, researchers have argued that lower transaction costs and better project assessments result in expected welfare gains. Others, however, have shown that with incomplete markets,...
Persistent link: https://www.econbiz.de/10014083427