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We turn the zero-profit condition that is typically used to determine the number of firms into a game of entry/exit. We assume that identical firms compete in Cournot fashion, and when market …
Discussion paper
This paper studies the effects of overreaction to recent news for macroeconomic outcomes in the context of a quantitative model of sovereign debt and default. Overreaction is formalized in terms of …
Discussion paper
This study explores the effects of ECB’s monetary policy surprise spillovers on the financial markets of Sweden and Denmark, two small open economies (SOEs) with close ties to the euro area. …
Discussion paper