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The Role of Government in the Credit Market
(Vanderbilt University, 2009)
The paper assumes a government advantage in collecting income contingent payments and develop a proposal for a government loan program that is an integral part of the tax system. The focus is on administrative costs and ...
Rigidity, Dispersion and Discreteness in Chain Prices
(Vanderbilt University, 2009)
This paper studies price setting within a chain of grocery stores, using a scanner database that contains observations of retail prices for 435 products within 75 stores over 121 weeks. We find price dispersion within the ...
Liquidity Premium and International Seigniorage Payments
(Vanderbilt University, 2009)
Why do people hold dollar denominated assets when higher rate of return alternatives are available? Can a country collect seigniorage payments from other countries in the long run? Does the supplier of the international ...