| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5374 |
| DP5374 Optimal Monetary and Fiscal Policy in a Currency Union | |
| Jordi Gali; Tommaso Monacelli | |
| 发表日期 | 2005-11-17 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | Many economists and policy analysts seem to believe that loyalty-rewarding pricing schemes, like frequent flyer programs, tend to reinforce firms' market power and hence are detrimental to consumer welfare. The existing academic literature has supported this view to some extent. In contrast, we argue that these programs are business stealing devices that enhance competition, in the sense of generating lower average transaction prices and higher consumer surplus. This result is robust to alternative specifications of the firms' commitment power and demand structures, and is derived in a theoretical model whose main predictions are compatible with the sparse empirical evidence. |
| 主题 | Industrial Organization |
| 关键词 | Repeat purchases Switching costs Price commitment Coupons |
| URL | https://cepr.org/publications/dp5374 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534227 |
| 推荐引用方式 GB/T 7714 | Jordi Gali,Tommaso Monacelli. DP5374 Optimal Monetary and Fiscal Policy in a Currency Union. 2005. |
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