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The labor-supply elasticity and borrowing constraints : why estimates are biased
Domeij, David (contributor); Flodén, Martin (contributor) - 2001 - [Elektronische Ressource]
The labor-supply elasticity is a central element in many macroeconomic models. We argue that assumptions underlying previous econometric estimates of the intertemporal labor supply elasticity are inconsistent with incomplete markets economies. In particular, if the econometrician ignores...
Persistent link: https://www.econbiz.de/10001626699
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Studies in complex financial instruments and their valuation
Ekvall, Niklas - 1993
Persistent link: https://www.econbiz.de/10000860118
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Financial innovation, market participation and asset prices
Calvet, Laurent E. (contributor);  … - 2001 - [Elektronische Ressource], This draft: August 2011
This paper proposes that the introduction of non-redundant assets can endogenously modify trader participation in financial markets, which can lead to a lower market premium and a higher interest rate. We demonstrate this mechanism in a tractable exchange economy with endogenous participation....
Persistent link: https://www.econbiz.de/10001611814
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Prices, margins and liquidity constraints : Swedish newspapers 1990 - 1996
Asplund, Marcus (contributor); Eriksson, Rickard (contributor) - 2001 - [Elektronische Ressource]
For Swedish newspaper firms, a market with high switching costs, the subscription market, and a market with low switching costs, the advertising market, are of approximately equal importance. When Sweden enters a deep recession, we find that liquidity constraints influence the pricing decision...
Persistent link: https://www.econbiz.de/10001622430
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Aggregate savings when individual income varies
Flodén, Martin (contributor) - 2005 - [Elektronische Ressource]
This paper examines aggregate savings in a general equilibrium model where infinitely lived households face volatile … when income is constant. This additional capital accumulation has sometimes been interpreted as precautionary savings, but … I demonstrate that it is mostly generated by permanent-income motives. -- equilibrium interest rate ; aggregate savings …
Persistent link: https://www.econbiz.de/10002679474
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Budget deficits, stochastic population size and consumption
Becker, Torbjörn - 1995
Persistent link: https://www.econbiz.de/10000920355
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Risky taxes, budget balance preserving spreads and precautionary savings
Becker, Torbjörn - 1995
Persistent link: https://www.econbiz.de/10000920367
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Modelling macroeconomic time series with smooth transition autoregressions
Skalin, Joakim - 1999
Persistent link: https://www.econbiz.de/10000997092
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Confidence interval estimation tasks and the economics of overconfidence
Cesarini, David (contributor); Sandewall, Örjan (contributor) - 2003 - [Elektronische Ressource]
Experiments in psychology, where subjects estimate confidence intervals to a series of factual questions, have shown that individuals report far too narrow intervals. This has been interpreted as evidence of overconfidence in the preciseness of knowledge, a potentially serious violation of the...
Persistent link: https://www.econbiz.de/10001790875
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Life cycles, oil cycles, or financial reforms? : The growth in private savings rates in Indonesia
Johansson, Sara - 1996
Persistent link: https://www.econbiz.de/10000956033