In the presence of capital accumulation the Taylor principle may not be sufficient for determinacy under reasonable parameter values. In this paper I consider a two-sector extension of the models used in the existing literature. I show that what matters for whether the Taylor principle is sufficient is the price stickiness of investment goods. Price stickiness of consumer goods on the other han...

pricing of goods and services are one of the fundamental instrument of competition and prerequisite for a competetive market is the right to determine prices freely by undertakimgs. competition law has declared discriminative pricing as an anticompetetive practices in many jurisdiction while analysis specially in the scope of intellectual property rights shows that many form of price discrimina...

To what extent has Sub-Saharan Africa’s slow economic growth over the past five decades been due to price and trade policies that have discouraged production of agricultural relative to non-agricultural tradables? This paper uses a new set of estimates of policy distortions to relative prices to address this question econometrically. We first test if these policy distortions respond to economic...

This paper aims to investigate the possibility for monopolistically competitive firms to set the price and the quantity of goods through a reinforcement learning approach. The model incorporates a set of firms that produce and sell differentiated goods in monopolistically competitive markets and households that supply different types of labor, purchase goods for consumption and hold money. The ...

exchange rate pass-through to the price of traded goods is one of the important issues in economy of developing countries such as iran and affects the efficiency of the exchange rate policies to improve the trade balance. the main aim of this paper is to empirically analyze exchange rate pass-through to iran's saffron export price using panel data for twenty destination markets during 2000...

exchange rate pass-through to the price of traded goods is one of the important issues in economy of developing countries such as iran and affects the efficiency of the exchange rate policies to improve the trade balance. the main aim of this paper is to empirically analyze exchange rate pass-through to iran's saffron export price using panel data for twenty destination markets during 2000–2011...

A VCG auction (named after their inventors Vickrey, Clarke, and Groves) is a generalization of the single-good, second price Vickrey auction to the case of a combinatorial auction (multiple goods, from which any participant can bid on each possible combination). We formalize in this entry VCG auctions, including tie-breaking and prove that the functions for the allocation and the price determin...

o We further analyse a sub-set of commodity-related goods jewellery, fuel and metals. These goods offer a clean quasi-experimental setting to look at the effects of a pure change in price on criminal activity. Specifically, they are homogenous in their quality and supported by efficient resale markets (for example, the scrap metal recycling industry). Price changes for these goods are also exog...

This study analyzes the effect of the presence of Wal-Mart Supercenters on the prices at conventional supermarkets in Massachusetts, Connecticut, and Rhode Island. Using price indexes constructed from primary price data on a basket of 54 goods and holding several demographics and market conditions constant, we determine that Supercenters result in a 7.79% average price reduction in national bra...

Reference-Dependent Utility, Product Variety and Price Competition Products such as iPhone, Coca-Cola and Tide serve as the standard against which consumers evaluate other members of the category. Empirical evidence suggests consumers care about not only the consumption utility derived from a product but also the gain-loss utility in comparison to the reference product of the category. This pap...