Global ETD Search
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Showing 1 to 2 of 2 for “"recursive contracts"”.
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Trade credit
… repeated games, continuation values of agents in recursive contracts, or the set of stationary distributions in recursive competitive equilibria---are given by the fixed-points of a class of set-valued contraction mapping operators. I then use the method to analyze a dynamic model of trade credit. …
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Essays on Monetary Theory
… facing the policymaker. The last formulation is recursive, facilitating the finding of the steady state. This paper finds the steady state for a New Keynesian central bank who has both a transitory and a persistent preference shock. Under discretion, the private sector's expected inflation is …