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Monopoly with local knowledge of demand function
Naimzada, Ahmad; Ricchiuti, Giorgio - In: Economic Modelling 28 (2011) 1, pp. 299-307
that quantity. Given this information and through a learning process the firm estimates a linear subjective demand curve …
Persistent link: https://www.econbiz.de/10010573382
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Limited information minimal state variable learning in a medium-scale multi-country model
Dieppe, Alistair; Pandiella, Alberto González; Hall, … - In: Economic Modelling 33 (2013) C, pp. 808-825
realistic assumption of boundedly rational learning where agents are assumed to use only a limited set of information to form …
Persistent link: https://www.econbiz.de/10011048693
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Inflation targeting in a learning economy: An ABM perspective
Salle, Isabelle; Yıldızoğlu, Murat; Sénégas, … - In: Economic Modelling 34 (2013) C, pp. 114-128
This paper investigates the performances of an inflation targeting regime in a learning economy framed as an Agent … rules of thumb – or heuristics – while a continuous learning process governs the evolution of those rules. Under these … learning mechanisms operating at the individual level and the features and performances of the inflation targeting regime. Our …
Persistent link: https://www.econbiz.de/10011048696
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Co-movements of GCC emerging stock markets: New evidence from wavelet coherence analysis
Aloui, Chaker; Hkiri, Besma - In: Economic Modelling 36 (2014) C, pp. 421-431
This paper examines the short term and long term dependencies between stock market returns for the Gulf Cooperation Council (GCC) Countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates) during the period 2005–2010. Our empirical investigation is based on the...
Persistent link: https://www.econbiz.de/10010729811
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The price stability under inflation targeting regime: An analysis with a new intermediate approach
Ftiti, Zied; Hichri, Walid - In: Economic Modelling 38 (2014) C, pp. 23-32
This paper analyzes the relevance of the inflation targeting (IT) policy in achieving its primary goal of medium-term price stability. Contrary to previous studies, we propose, in this work, a new approach; an intermediate approach that consists in conducting a time-series analysis (employed in...
Persistent link: https://www.econbiz.de/10010753360
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On the relationship between oil price and exchange rates: A wavelet analysis
Uddin, Gazi Salah; Tiwari, Aviral Kumar; Arouri, Mohamed; … - In: Economic Modelling 35 (2013) C, pp. 502-507
We may find numerous works in the existing literature regarding the cohesion between oil prices and exchange rates, yet an exact shape of the relationship remains undefined. By restoring to wavelet analysis and using a rich database from Japan, this study contributes to the literature by...
Persistent link: https://www.econbiz.de/10010719357
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Are securitised real estate markets efficient?
Su, Jen-Je; Cheung, Adrian; Roca, Eduardo - In: Economic Modelling 29 (2012) 3, pp. 684-690
We re-examine the efficiency of real estate markets based on the Escanciano-Lobato (2009) autocorrelation test which we improved by means of wild bootstrapping. Through Monte Carlo simulation, we find that the wild bootstrap-based autocorrelation test has very good performance even in small...
Persistent link: https://www.econbiz.de/10011048857
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Conditional market beta for REITs: A comparison of modeling techniques
Zhou, Jian - In: Economic Modelling 30 (2013) C, pp. 196-204
There has accumulated strong evidence in the literature that market beta (β) is time varying. This paper contributes to the literature by studying how to best model the time varying beta for REITs. We include several commonly used methods and evaluate their performances in terms of in-sample...
Persistent link: https://www.econbiz.de/10011048940
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Model reference adaptive expectations in Markov-switching economies
Carravetta, Francesco; Sorge, Marco M. - In: Economic Modelling 32 (2013) C, pp. 551-559
This paper offers a theory of model reference adaptive beliefs as a selection device in Markov-switching economies under equilibrium indeterminacy. Consistent with the classical rational choice paradigm, our theory requires that endogenous expectations be replaced with a general-measurable...
Persistent link: https://www.econbiz.de/10010664416
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A New Keynesian SVAR model of the Australian economy
Leu, Shawn Chen-Yu - In: Economic Modelling 28 (2011) 1, pp. 157-168
We estimate an SVAR model for the Australian economy based on an open economy New Keynesian model that accounts for the forward-looking behaviour exhibited by economic agents. Deep structural parameters are identified by placing exclusion restrictions on the VAR residuals and the covariance...
Persistent link: https://www.econbiz.de/10010573310