Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "8004"
  #_source: array:26 [
    "id" => "8004"
    "slug" => "effects-of-currency-unit-substitution-in-a-search-equilibrium-model"
    "yearMonth" => "1997-01"
    "year" => "1997"
    "title" => "Effects of Currency Unit Substitution in a Search Equilibrium Model"
    "description" => "BESANCENOT, D., ROCHETEAU, G. et VRANCEANU, R. (1997). <i>Effects of Currency Unit Substitution in a Search Equilibrium Model</i>. ESSEC Business School."
    "authors" => array:3 [
      0 => array:3 [
        "name" => "VRANCEANU Radu"
        "bid" => "B00000524"
        "slug" => "vranceanu-radu"
      ]
      1 => array:1 [
        "name" => "BESANCENOT D."
      ]
      2 => array:1 [
        "name" => "ROCHETEAU G."
      ]
    ]
    "ouvrage" => ""
    "keywords" => []
    "updatedAt" => "2020-12-17 21:00:33"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => null
      "volume" => null
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Documents de travail"
      "en" => "Working Papers"
    ]
    "support_type" => array:2 [
      "fr" => "Editeur"
      "en" => "Publisher"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "L'article propose un modèle de théorie de la recherche pour étudier les conséquences économiques d'une réforme monétaire dans lequel  le taux de conversion n'est pas une valeur arrondie. Par hypothèse, dans le court terme, les consommateurs vont continuer d'utiliser des prix de réservation exprimés dans l'ancienne monnaie. De ce fait, ils doivent transformer les prix nouveaux dans l'ancienne unité de compte. Les agents diffèrent dans leur aptitude à faire des calculs exacts. Les entreprises peuvent discriminer entre les consommateurs en fonction de leur taux de conversion individuels. Par conséquent, les consommateurs entament un processus de recherche de prix inférieurs à leur prix de réservation. Un nouvel équilibre apparaît : dans certains cas la production diminue mais le surplus des consommateurs peut augmenter."
      "en" => "This paper develops a search equilibrium model to explore the economic consequences of a currency reform which makes use of a decimal conversion rate. It is assumed that in the short run consumers keep on using the former reservation prices, expressed in the old currency. In order to make their buying decision, they must therefore convert the new displayed prices into the old currency. Agents differ in their ability to calculate the correct price. Firms may attempt to discriminate between consumers in keeping with their individual heuristic conversion rates. As a consequence of this price distribution, consumers engage in a time-consuming search process. The post-reform equilibrium may involve a different price disribution, changes in the activity level and in the surplus of the various types of consumers."
    ]
    "authors_fields" => array:2 [
      "fr" => "Economie"
      "en" => "Economics"
    ]
    "indexedAt" => "2024-12-22T02:21:49.000Z"
    "docTitle" => "Effects of Currency Unit Substitution in a Search Equilibrium Model"
    "docSurtitle" => "Working Papers"
    "authorNames" => "<a href="/cv/vranceanu-radu">VRANCEANU Radu</a>, BESANCENOT D., ROCHETEAU G."
    "docDescription" => "<span class="document-property-authors">VRANCEANU Radu, BESANCENOT D., ROCHETEAU G.</span><br><span class="document-property-authors_fields">Economics</span> | <span class="document-property-year">1997</span>"
    "keywordList" => ""
    "docPreview" => "<b>Effects of Currency Unit Substitution in a Search Equilibrium Model</b><br><span>1997-01 | Working Papers </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">Effects of Currency Unit Substitution in a Search Equilibrium Model</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 8.831011
  +"parent": null
}