Macroeconomics of International Price Discrimination |
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allocation arbitrage assets bond economy border effect brand budget constraint CEPR CF,t CH,t consumer price consumption Corsetti and Pesenti Dedola demand Discussion Papers distribution costs distribution margin distribution services distributive trade elasticity of substitution endogenous equilibrium exchange rate movements exchange rate pass-through export expression financial autarky Home and Foreign Home country Home currency Home firms incomplete pass-through interest rates international price discrimination labor input London Business School markup monetary policy monetary shocks monopolistic monopoly power Neves and Rebelo nominal and real nominal exchange rate nominal rigidities nominal shocks nontradable sector Obstfeld and Rogoff optimal price p(h)+nPN perfect competition permanent shocks PF,t PH,t PN,t price elasticity productivity shocks pt h Pt(h Purchasing Power Parity real exchange rate real shocks risk sharing shocks to productivity symmetric symmetric equilibrium terms of trade tradable sector volatile wholesale price Wt ZF,t ZH,t ZH.t ZN,t ZN.t ηθ