Similar Search Results

Optimal Environmental Protection and Environmental Kuznets Curve

Teles, Vladimir K.; Arraes, Ronaldo A. - Econometric Society - 2004

This paper explores the link between an environmental policy and economic growth employing an extension of the Neoclassical Growth Model. We include a state equation to renewable natural resources, and consider natural resources as a component of the aggregate productivity. It is assumed that...

Persistent link: https://www.econbiz.de/10005699573

The Max-Convolution Approach to Equilibrium Models with Indivisibilities

YANG, Zaifu; SUN, Ning - Econometric Society - 2004

equilibrium if and only if the potential market value function is concave with respect to the total initial endowment of …

Persistent link: https://www.econbiz.de/10005130244

Pure Strategy Equilibria of Multidimensional and Non-Monotonic Auctions

Araujo, Aloisio; Filho, Luciano I. de Castro - Econometric Society - 2004

We give necessary and suï¬ƒcient conditions for the existence of symmetric equilibrium without ties in common values … still able to prove the existence of pure strategy equilibrium with an exogenous and explicit tie breaking mechanism. As a …

Persistent link: https://www.econbiz.de/10005328867

Balanced Budget Rules and Aggregate Instability: The Role of Consumption Taxes

Giannitsarou, Chryssi - Econometric Society - 2004

It is known that, in the context of a real business cycle model with constant returns to scale and a balanced budget fiscal policy rule, steady state indeterminacy may arise as a result of endogenously determined labor income tax rates. This happens for a range of empirically plausible tax rates...

Persistent link: https://www.econbiz.de/10005328994

Balanced Budget Rules and Aggregate Instability: The Role of Consumption Taxes

Giannitsarou, Chryssi - Econometric Society - 2004

Persistent link: https://www.econbiz.de/10005342191

Noisy evolution in normal form games

Kuzmics, Christoph - Econometric Society - 2004

equivalent to a trembling-hand perfect equilibrium. …

Persistent link: https://www.econbiz.de/10005129796

Indivisible Goods and Fiat Money

Rivera, Jorge; Florig, Michael - Econometric Society - 2004

positive and the set of equilibrium allocations changes with the distribution of fiat money. Its role lies in the fact that it … could be used to facilitate exchange. Since a Walras equilibrium does not always exist when goods are indivisible, a new … equilibrium concept - called rationing equilibrium - is introduced and its existence is proven under weak assumptions on the …

Persistent link: https://www.econbiz.de/10005699608

Reaching Inflation Stability

Moreno, Antonio - Econometric Society - 2004

Inflation volatility has significantly declined over the last 20 years in the U.S. To find out why, I follow a structural approach. I estimate a complete New Keynesian model which imposes cross-equation restrictions on the time series of inflation, the output gap and the interest rate. I perform...

Persistent link: https://www.econbiz.de/10005702688

Global identification from the equilibrium manifold under incomplete markets

Carvajal, Andres; Riascos, Alvaro - Econometric Society - 2004

We show that even under incomplete markets, the equilibrium manifold identifies individual demands everywhere in their …

Persistent link: https://www.econbiz.de/10005702624

Does Housing Wealth Make Us Less Equal? The Role of Durable Goods in the Distribution of Wealth

Gruber, Robert F. Martin Joseph W. - Econometric Society - 2004

We study the role an illiquid durable consumption good plays in determining the level of precautionary savings and the distribution of wealth in a standard Aiyagari model (i.e. a model with heterogeneous agents, idiosyncratic uncertainty, and borrowing constraints). Transactions costs induce an...

Persistent link: https://www.econbiz.de/10005702669