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higher permanent inequality and higher volatility. However, taking the welfare state and its institutions into account, we … ; Transitory Income Volatility ; Earnings Dynamics ; Safety Net ; Transfer Payments …
Persistent link: https://www.econbiz.de/10008664565
higher permanent inequality and higher volatility. However, taking the welfare state and its institutions into account, we …
Persistent link: https://www.econbiz.de/10008826575
volatility. The current paper employed quarterly time series data from 2002 to 2020 to analyse the responsiveness of household … consumption expenditure to the petrol price, disposable income and exchange rate volatility in South African. The empirical … of consumption expenditure was found to be determined by income level and exchange rate volatility whilst changes in …
Persistent link: https://www.econbiz.de/10012548317
Using confidential product-level price data underlying the U.S. Producer Price Index (PPI), this paper analyzes the effect of changes in firms’ financial conditions on their price-setting behavior during the “Great Recession.” The evidence indicates that during the height of the crisis...
Persistent link: https://www.econbiz.de/10011145586
externalities with large adjustments in the tax rates that operate directly in customer markets; labor tax volatility remains low …
Persistent link: https://www.econbiz.de/10010758355
We study a model of firm price setting with customer markets and empirically evaluate its predictions. Our framework captures the dynamics of customers in response to a change in the price set by firms, describes the behavior of optimal prices in the presence of customer retention concerns, and...
Persistent link: https://www.econbiz.de/10011084630
The collapse of Iceland’s financial system in October 2008 is used as a natural experiment to test whether advertising decisions have a forward-looking component. The results show that changes in the volume of advertisements precede changes in investment.
Persistent link: https://www.econbiz.de/10010576443
In recent years the New Keynesian Model with price stickiness of the Calvo type has become the most widely used theoretical framework for addressing various normative issues such as how optimal monetary and fiscal policy should be conducted. However, the New Keynesian Model has been criticized...
Persistent link: https://www.econbiz.de/10009482289
In this essay a customer market model is constructed, where an entrepreneur-owned firm has two choice variables, namely the customer stock and the capital stock. The firm is assumed to be completely credit rationed and the investment procedure is characterised by time-to-build. The model is...
Persistent link: https://www.econbiz.de/10010321791
In this essay a customer market model is constructed, where an entrepreneur-owned firm has two choice variables, namely the customer stock and the capital stock. The firm is assumed to be completely credit rationed and the investment procedure is characterised by time-to-build. The model is...
Persistent link: https://www.econbiz.de/10005190462