T his study examines how oil price shocks interact with the stock market index within a nonlinear autoregressive distributed lag model in Iran. Based on quarterly data for the period from 1991 to 2017, the findings revealed statistically significant evidence of short-run and long-run asymmetric behavior of stock market index in response to the positive a...

Energy carriers are one of the most important inputs in the agricultural sector. These inputs have been the foundation of the development and transition of the agricultural sector from the traditional stage to the industrial stage. The energy per capita marginal consumption in Iran’s agricultural sector is 3.2 times greater than its global average. Therefore, it is essential to save and optimal...

We investigate equilibrium bidding in first-price auctions with asymmetric reserve prices. For example, the auctioneer may set a low reserve price for one subset of bidders and a high reserve price for others. When used to pursue a distributional objective, lowering the reserve price for some bidders channels benefits toward marginal agents in the favored group and does not adversely impact non...

This paper examines the effect of the volatility of oil prices on food price in South Africa using monthly data covering the period 2002:01 to 2014:09. Food price is measured by the South African consumer price index for food while oil price is proxied by the Brent crude oil. The study employs the GARCH-in-mean VAR model, which allows the investigation of the effect of a negative and positive s...

Asymmetric pricing is the phenomenon where prices rise more readily than they fall. We articulate, and provide empirical support for, a theory of asymmetric pricing in wholesale prices. In particular, we show how wholesale prices may be asymmetric in the small but symmetric in the large, when retailers face costs of price adjustments. Such retailers will not adjust prices for small changes in t...

This paper uses a unique micro data set to test for the presence of price asymmetries at the firm level. We find that firm pricing is indeed asymmetric, as Tobin (1972) suggested long ago. Moreover, there is strong evidence to support Ball and Mankiw's (1994) suggestion that firm price asymmetry is dependent on inflation. However, Ball and Mankiw's theory seems to hold better for changes in cos...

Collusion is when firms coordinate on suppressing competition, and coordination typically requires that firms communicate in some manner. This study conducts experiments to determine what modes of communication are able to produce and sustain collusion and how the effi cacy of communication depends on firm heterogeneity and the number of firms. We consider two different communication treatments...

This paper analyzes the various econometric models that have been used to identify asymmetric pricing in the retail gasoline industry, and also documents empirical regularities in the market. I find that a standard error-correction model coupled with daily price data is best suited to analyze asymmetric price adjustments. Moreover, temporally aggregated data can severely bias parameter estimate...

Abstract In a reciprocal medium, transmission of electromagnetic (EM) waves is symmetric along opposite directions which restrict design and implementation various systems in optics photonics. Asymmetric (AT) essential for designing isolators circulators photonics, it benefits other applications such as photovoltaic systems, lasers, cloaking, EM shielding. While bulky nonreciprocal devices base...