Journal Article10.2307/2951649
Commitment value of contracts under renegotiation constraints
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About: This article is published in Econometrica. The article was published on 01 Nov 1993. The article focuses on the topics: Value (economics).
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Citations
Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area
Michael Ehrmann,Michael Ehrmann,Leonardo Gambacorta,Leonardo Gambacorta,Jorge Martínez-Pagés,Patrick Sevestre,Andreas Worms +6 more
TL;DR: In this article, a comprehensive comparison of the structure of banking and financial markets in the euro area is presented, based on which several hypotheses about the role of banks in monetary policy transmission are developed.
The Pricing Behaviour of Firms in the Euro Area: New Survey Evidence
Silvia Fabiani,Martine Druant,Ignacio Hernando,Claudia Kwapil,Bettina Landau,Claire Loupias,Fernando Martins,Fernando Martins,Thomas Mathae,Roberto Sabbatini,Harald Stahl,Ad Stokman +11 more
TL;DR: In this paper, the authors investigated the pricing behavior of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms and found that firms operate in monopolistically competitive markets, where prices are mostly set following markup rules and where price discrimination is common.
The Cross-Section of Foreign Currency Risk Premia and Consumption Growth Risk
TL;DR: The U.S. consumption growth beta of an investment strategy that goes long in high interest rate currencies and short in low interest rate currency is large and significant as discussed by the authors, even after accounting for the sampling uncertainty introduced by the estimation of the consumption betas.
Price setting in the euro area: Some stylized facts from Individual Consumer Price Data. NBB Working Paper Nr.74, September 2005
Emmanuel Dhyne,Luis J. Álvarez,Hervé Le Bihan,Giovanni Veronese,Daniel Dias,Johannes Hoffmann,Nicole Jonker,Patrick Lünnemann,Fabio Rumler,Jouko Vilmunen +9 more
- 01 Sep 2005
TL;DR: In this paper, the authors document patterns of price setting at the retail level in the euro area, summarized in six stylized facts: the average euro area monthly frequency of price adjustment is 15 p.c.
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