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UID:event-11348@www.amse-aixmarseille.fr
DTSTAMP:20260422T000405Z
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SUMMARY:phd seminar - Matteo Bulgarelli*\, Miriam Braig**
DTSTART:20241126T100000Z
DTEND:20241126T113000Z
DESCRIPTION:*We study the potential of rental subscriptions as a tool to ab
 ate the production impact. We build an oligopoly model where two single-pro
 duct retailers and a multi-product rental provider compete on prices: produ
 cts in our model are horizontally differentiated\, while leasing is qualita
 tively inferior to owning an item. The rental provider\, or Access Based Se
 rvice Provider (ABSP) offers a bundle of two products\, and its user base r
 eceives one product per period. We compare the equilibrium outcomes with a 
 setup where the multi-product firm sells the two products\, rather than ren
 ting them out. We show that leasing is greener than selling for goods chara
 cterized by small unit cost: moreover\, a marginal improvement on the abili
 ty of the ABSP to serve multiple consumers with the same item does not nece
 ssarily result in a lower production impact\, due to the strategic response
  of the competitors. Finally\, we find that as leasing and selling become c
 loser substitutes\, leasing is more likely to result in higher production i
 mpact\, in that the cost savings implied by better asset utilisation transl
 ate into a very large user base for the multi-product firm.**We solve a can
 onical\, estimated\, medium-sized\, open-economy New Keynesian model\, cast
  it into a small-scale population vector autoregression\, and assess whethe
 r best-practice structural identifications detect textbook “overshootingâ
 €ť after a monetary policy hike—i.e.\, an instant real appreciation that 
 monotonically reverts. Our results include “delayed overshooting\,” “
 exchange rate puzzles\,” “forward discount puzzles\,” and model-consi
 stent overshooting. Identifications that regularly indicate open-economy an
 omalies in empirics likewise produce them in our controlled setup. Vice ver
 sa\, identifications that prompt theory-conform conclusions in actual data 
 do so in our experimental data. We infer that less empirical evidence may c
 ontradict canonical international macro theory than previously understood.\
 \n\\nContact: Philippine Escudié : philippine.escudie[at]univ-amu.frLucie
  Giorgi : lucie.giorgi[at]univ-amu.frKla Kouadio : kla.kouadio[at]univ-amu.
 frLola Soubeyrand : lola.soubeyrand[at]univ-amu.fr\n\nPlus d'informations:
  https://www.amse-aixmarseille.fr/fr/evenements/matteo-bulgarelli-miriam-br
 aig
LOCATION:Îlot Bernard du Bois - Amphithéâtre\, AMU - AMSE\, 5-9 boulevar
 d Maurice Bourdet\, 13001 Marseille
URL;VALUE=URI:https://www.amse-aixmarseille.fr/fr/evenements/matteo-bulgarelli-miriam-braig
CONTACT:Philippine Escudié :&nbsp\;philippine.escudie[at]univ-amu.frLucie 
 Giorgi : lucie.giorgi[at]univ-amu.frKla Kouadio : kla.kouadio[at]univ-amu.f
 rLola Soubeyrand :&nbsp\;lola.soubeyrand[at]univ-amu.fr
TRANSP:OPAQUE
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