A Bargaining Theory of Trade Invoicing and Pricing
---- Acknowledgements ----
We thank Charles-Henry Weymuller and seminar audiences at the Federal Reserve Bank of New York, the HEID-EPFL-UNIL Sinergia workshop, the Bank of Italy, the National Bank of Serbia, the University of Reading, the University of Navarra, and the University of Basel for valuable comments. The views expressed in this paper are those of the authors and do not necessarily reflect the position of the Federal Reserve Bank of New York, the Federal Reserve System, or the National bureau of Economic Research. Cédric Tille gratefully acknowledge financial support from the Swiss National Science Foundation Sinergia program, and the National Centre of Competence in Research "Financial Valuation and Risk Management" (NCCR FINRISK), and the Swiss Finance Institute.