Lucie Lebeau
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Jan 7, 2025 |
dallasfed.org | Jyotsana Kala |Lucie Lebeau |Lu Wang
Research Department Working Papers No. 2501 Abstract: We study the dynamic interplay between monetary policy and market power in a decentralized monetary economy. Building on Choi and Rocheteau (2024), our key innovation is to model rent seeking as a process that takes time, allowing market power to evolve gradually.
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