Using an aggregate econometric model for the EU we investigate by simulation methods some dynamic paths of the European economy in the next five years under alternative hypotheses concerning the growth of world demand, the European currency/USD exchange rate, and the monetary policy.

Can a strategy of targeting macro projections be the only guide for monetary policy actions, or could it cause macroeconomic instability in the face of imprecise information? The paper examines how the precision of the indicators affects determinacy in a model with partial information and an...

This paper attempts estimation of the model of the Soviet price determination. Model consists of price equations for five sectors of the Soviet economy, and it is intended to be a part of a larger econometric model of the Soviet economy. Four different cost-plus price formulae were estimated....

This paper reports the construction and testing of an econometric model designed to represent a firm’s financial statements. More specifically, the paper aims at showing how a firm’s financial statements can be empirically explained by means of a simultaneous equations structural model...

In this paper we extend the macroeconometric model developed in Bagnai (2004) by linking it to a submodel for the Japanese economy, and we utilize this extended model to investigate several hypotheses of reduction in the US twin deficits. The Japanese submodel is specified and estimated along...

Many attempts to increase civic competence are based on premises about communication and belief change that are directly contradicted by important insights from microeconomic theory and social psychology. At least two economic literatures are relevant to my effort to improve matters. One is the...

A firm must decide whether to launch a new product. A launch implies considerable fixed costs, so the firm would like to assess downstream demand before it decides. We study under which conditions a potential buyer would be willing to reveal his willingness to pay under different pricing...

We analyze simultaneous discrete public good games with incomplete information and continuous contributions. To use the terminology of Admati and Perry (1991), we consider contribution and subscription games. In the former, contributions are not refunded if the project is not completed, while in...

The paper analyzes the Nash equilibria of two-person discounted repeated games with one-sided incomplete information and known own payoffs. If the informed player is arbitrarily patient relative to the uninformed player, then the characterization for the informed player's payoffs is essentially...