Using a multi-period general equilibrium model, this paper extends the results of Mankiw (1991) by showing that monopolistically competitive firms may require ‘relatively large’ menu costs to dissuade them from changing prices in response to an aggregate demand shock that is perceived to be permanent. Thus, “small” menu costs may be insufficient to contribute to large business cycles. JEL Class...

This article shows that the “risk premium” shock in Smets and Wouters (2007) can be interpreted as a structural shock to the demand for safe and liquid assets such as short-term US Treasury securities. Several implications of this interpretation are discussed. JEL Classification Numbers: E00, E1, E3, E4, E5, G1

Managerial rent extraction is a non-trivial phenomenon during acquisitions: in a sample of 364 deals from 1999-2005, over one target CEO in four experiences compensation increases due to option grants received just before the acquisition while target shareholders suffer losses. Indeed, the top quartile of rent extraction CEOs pocket an average of 19 million dollars from option awards granted se...

the aim of this study is to review the rentier state theory, with special regard to iran. iran’s rentier state is highly dependent on oil revenues, but much less on tax revenues. even this negligible reliance on tax revenues, itself seems to be indebted to oil revenues. thus the main research hypothesis is that iran’s oil revenue is one of the main determinants of tax revenues. to empirically t...

The Functional Rent Advisor (FRA) is an intelligent Inter-net application that allows calculating an estimate of the fair rent for a at in Munich. The FRA is a re-implementation of the Munich Rent Advisor FA96] using the high-level purely functional language Haskell. This paper shows that Haskell is appropriate to realize non-trivial Inter-net applications. Simplicity, exibility and rapid proto...

People are now tightly connected through mobile Internet applications, whether they platform owners, renters, business professionals, or users. The presence of Rent is concealed between owners and renters according to Marx's rent theory. Owners platforms lease out data land charge renters. Similar rent, demonstrates differential rent. However, due the instantaneous replicability flow activities...