منابع مشابه
International Trade in Durable Goods in Sticky Price Models
Engel and Wang (2008) argue that trade in durable goods is important for international real-businesscycle models to replicate the behavior of real imports and exports. We extend such a model with Calvostyle price stickiness. We find that the model with producer currency pricing (PCP) for investment goods and local currency pricing (LCP) for durable consumption performs better than the model wit...
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Is the variety of products supplied in markets a reflection of the diversity of consumers’ preferences? In this paper, we argue that the distribution of durable goods offered in markets tends to be compressed relative to the distribution of consumers’ underlying preferences. In particular, there are strong incentives for conformity in markets for durable goods. The reason for conformity is natu...
متن کاملDurable Goods and Sectoral Effects of Monetary Policy
High degree of interest sensitivity of durable goods is now a stylized fact in the literature of monetary policy. This literature, however, does not provide a clear and consensual explanation for the modalities of this stylized fact. In this paper, two independent empirical models are performed to shed more light on the cross-sectoral impacts of monetary policy. The results of first study indic...
متن کاملPerishable Durable Goods
We examine whether the Coase conjecture [7, 14, 4, 10] is robust against slight ability of commitment of the monopolist not to sell the durable goods to consumers. We quantify the commitment ability in terms of the speed that the durable goods perish, while keeping the time between the o ers small. We demonstrate that the slight commitment capability makes a substantial di erence by constructin...
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ژورنال
عنوان ژورنال: Studies in Regional Science
سال: 2005
ISSN: 0287-6256,1880-6465
DOI: 10.2457/srs.35.655