Dynamic Oligopoly with Sticky Prices: Off-Steady State Analysis

A Differential Oligopoly Game with Sticky Prices and Environmental Externality

a differential oligopoly game with sticky prices and environmental externality

Identifying Reaction Functions in a Differential Oligopoly Game with Sticky Prices

We investigate the issue of strategic substitutability/complementarity in a Cournot differential game with sticky prices. We show that first order conditions do not produce instantaneous best reply functions. However, we identify negatively sloped reaction functions in steady state, with the open-loop best reply being flatter than its closed-loop counterpart. JEL classification: C73, D43, D92, ...

Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State∗

Erceg et al. (2000) show that when both wages and prices are sticky, maximization of expected utility is equivalent to minimizing a loss function with three terms, involving measures of the variability of wage inflation, price inflation and the output gap respectively. Here we generalize their analysis, most importantly by not assuming the existence of output and employment subsidies that elimi...

Sticky Prices vs . Sticky Information

The working papers published in the Series constitute work in progress circulated to stimulate discussion and critical comments. Views expressed represent exclusively the authors' own opinions and do not necessarily refl ect those of the editors. Die Deutsche Bibliothek verzeichnet diese Publikation in der deutschen National-bibliografi e; detaillierte bibliografi sche Daten sind im Internet üb...