Narrow search
Showing 1 - 10 of 173
Cover Image
Do Flexible Durable Goods Prices Undermine Sticky Price Models?
Barsky, Robert; House, Christopher; Kimball, Miles - EconWPA - 2003
The “neoclassical synthesis” sticky price model exhibits strange behavior when augmented with markets for durable goods with flexible prices. While in the data the output of durable goods responds strongly and positively to a loosening of monetary policy, in dynamic general equilibrium...
Persistent link: https://www.econbiz.de/10005076698
Cover Image
CIRCULAR VARIABLE WORK IN PROCESS
Vildosola, Luis - EconWPA - 2002
This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...
Persistent link: https://www.econbiz.de/10005126234
Cover Image
Systems Theory of Macroeconomics, Introduction to
Perison, A.G. - EconWPA - 2001
rapid expansion of the U.S. economy. The Systems Theory of Macroeconomics (STM) indicates an erroneous construction in Say … constitutes the Special Theory. General Theory attempts to quantify and unify the effects of fiscal, monetary and social policies … through corrections made to the Quantity Theory, thus modeling the short and long term effects of these policies in tandem or …
Persistent link: https://www.econbiz.de/10005412616
Cover Image
Uncertainty, Indeterminacy and Shannon's Derivation of Entropy: Implications for Policy Administration - A Systems Theoretical Approach
Author: A.G. Perison - EconWPA - 2001
Most prices and interest rates display fluctuating levels that embody extractable energy and equivalent amounts of money. Such fluctuations are also associated with varying degrees of uncertainty. Shannon's derivations of spectral entropy and information content offer computational techniques...
Persistent link: https://www.econbiz.de/10005561278
Cover Image
Debt-Deflation: Concepts, and a Stylised Model
Peter, Goetz von - EconWPA - 2005
-deflation literature, such as distress selling, instability, and endogenous monetary contraction. The agents affected by a shock sell off …
Persistent link: https://www.econbiz.de/10005126279
Cover Image
Should we be afraid of Friedman's rule?
Uhlig, Harald - EconWPA - 2000
Should one think of zero nominal interest rates as an undesirable liquidity trap or as the desirable Friedman rule? I use three different frameworks to discuss this issue. First, I restate Cole and Kocherlakota's (1998) analysis of Friedman's rule: short run increases in the money stock -...
Persistent link: https://www.econbiz.de/10005561156
Cover Image
FINANCIAL INTERMEDIARY IN MONETARY ECONOMICS: AN EXCERPT
Golikov, Demid - EconWPA - 2005
This is a short literature overview. (1) The literature demonstrates no coherent view on the nature of economic exchange and, in particular, provides no conventionally accepted, fully satisfactory explanation of the real effects of money. Recent developments in macroeconomics suggest a role for...
Persistent link: https://www.econbiz.de/10005126388
Cover Image
The Response Of Financial And Goods Markets To Velocity
Padrini, Flavio - EconWPA - 1998
It is commonly thought that interest rates should decrease in response to a positive velocity innovation. Velocity innovations, therefore, should lead to the same qualitative effects in the financial and goods markets as money supply innovations. The present paper represents an empirical...
Persistent link: https://www.econbiz.de/10005076799
Cover Image
The Three Capitals of Pricing – Human, Systems and Social Capital
Ritson, Mark; Zbaracki, Mark; Dutta, Shantanu; Levy, Daniel - EconWPA - 2005
In this paper we explore the possibility, heretofore unexplored in the marketing literature, that firms “invest funds” in their pricing processes. This builds on some of the recent economic work on the costs of price adjustment. To do this we undertook a two-year, cross- disciplinary,...
Persistent link: https://www.econbiz.de/10005076823
Cover Image
Barter Economies and Centralized Merchants
Jose Noguera S. - EconWPA - 2001
The main goal of this essay is to analyze the emergence of a barter economy, and the rise of centralized merchants and a barter redistribution system out of a primitive barter system. The environment is a spatial general equilibrium model where exchange is costly. Since exchange becomes more...
Persistent link: https://www.econbiz.de/10005076840