The American Economic Review, Volume 97American Economic Association., 2007 |
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Página 921
... contracts , this produc- tivity level is ( 13 ) P * = ( N * ) * , which is increasing in the level of technology . In the next section we compare this to equilib- rium productivity under incomplete contracts . " 11 The next proposition ...
... contracts , this produc- tivity level is ( 13 ) P * = ( N * ) * , which is increasing in the level of technology . In the next section we compare this to equilib- rium productivity under incomplete contracts . " 11 The next proposition ...
Página 1306
... contracts to foreclose the entry of a more effi- cient competitor when buyers compete intensely . Combining this conclusion with the RRW - SW result , FM suggest that exclusive contracts are more effective as a means of monopolizing a ...
... contracts to foreclose the entry of a more effi- cient competitor when buyers compete intensely . Combining this conclusion with the RRW - SW result , FM suggest that exclusive contracts are more effective as a means of monopolizing a ...
Página 1311
... contracts if they expect pf > č . = If buyers expect pc , then every buyer that signs an exclusive contract in period 1 expects to breach that contract in period 3.2 by the same argument used earlier . Thus , R can attain minimum viable ...
... contracts if they expect pf > č . = If buyers expect pc , then every buyer that signs an exclusive contract in period 1 expects to breach that contract in period 3.2 by the same argument used earlier . Thus , R can attain minimum viable ...
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EDMUND S PHELPS | 541 |
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ALMA COHEN AND LIRAN EINAV | 745 |
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agents aggregate American Economic Review analysis assets assume assumption average behavior benchmark Beveridge curve business cycles candidates capital changes choice coefficient cointegration consumer consumption contracts correlation cost of business countercyclical deductible degree distributions distribution durables effect empirical equation equilibrium estimated exchange expected Figure firms function given growth HIP model households implies impulse responses income increase individuals inflation inventory investment investment rate Journal of Economics labor market loss aversion marginal likelihood matching Matthew Rabin ment Michael Woodford monetary policy nodes nomic observed optimal output pairs paper parameters patients percent policy shock post.com preferences procyclical production Proposition random regime relative response risk aversion sample Section sector Shapley value side payments simulations sticky prices stochastic Table theory tion tradable unemployment utility variables variance volatility vouchers wage workers Yangzi Delta