Showing 1 - 10 of 123,282
This paper brings together empirical research on price and wage dynamics for the Portuguese economy based both on micro and macro data. As regards firms' pricing behaviour the most noticeable finding is that prices in Portugal are somewhat less flexible than in the United States but more...
Persistent link: https://www.econbiz.de/10009640315
This paper identifies the basic features of the price setting mechanism in the Spanish economy, using a large dataset that contains over 1.1 million price records and covers around 70% of the expenditure on the CPI basket. In particular, the paper identifies differences in the frequency and size...
Persistent link: https://www.econbiz.de/10009639476
This paper reports the results of a survey conducted by the Banque de France during Winter 2003-2004 to investigate the price-setting behavior of French manufacturing companies. Prices are found to adjust infrequently; the median firm modifies its price only once a year. Price reviews are more...
Persistent link: https://www.econbiz.de/10009639484
This paper uses a model of import prices whereby exporters to the euro area set export prices partly as a mark-up on their production costs (i.e., the degree of exchange rate pass-through) and partly in line with euro area producer prices (i.e., pricing-to-market). Using both time series and...
Persistent link: https://www.econbiz.de/10009639848
Thanks to recent findings based on survey data, it is now well known that firms differ from each other with respect to their price-reviewing strategies. While some firms review their prices at fixed intervals of time, others prefer to perform price revisions in response to changes in economic...
Persistent link: https://www.econbiz.de/10009640639
Infrequent price changes at the firm level are now well documented in the literature. However, a number of issues remain partly unaddressed. This paper contributes to the literature on price stickiness by investigating the lags of price adjustments to different types of shocks. We find that...
Persistent link: https://www.econbiz.de/10009640640
In the evolution of money, the advent of cryptocurrencies would have been an inevitable and a natural phenomenon, but the farfetched implications of the 2008 global credit mayhem only accelerated their arrival. Facebook's claim of the Libra Blockchain as a decentralized network is far from...
Persistent link: https://www.econbiz.de/10012866210
The post-global financial crisis highlighted the importance of engaging in collateralized securities financing to meet the ever-increasing market needs for liquidity and risk management. Given the heavy reliance on volatile Eurodollar system and the fragmented governance and limited cross-border...
Persistent link: https://www.econbiz.de/10013234617
Central bank digital currencies (CBDCs) promise many benefits but, if not well designed, they could have undesired consequences, including for monetary policy. Issuing an unremunerated CBDC or a wholesale CBDC does not change the objectives of monetary policy or the operational framework for...
Persistent link: https://www.econbiz.de/10014355809
The paper investigates small business lending as an information problem. It models the effects of information asymmetries within the bank combined with fixed wages. Two kinds of inefficiencies arise in equilibrium: the credit officer either sometimes shirks or he is occasionally fired. In both...
Persistent link: https://www.econbiz.de/10009639467