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Jovanovic, Boyan - 1995

form. This is not a contribution to the theory of aggregation generally. Instead it is a microfoundation for a specific but … theory, the utility function when there is household production, human capital theory, and the concept of the aggregate …

Persistent link: https://www.econbiz.de/10012473588

The (Interesting) Dynamic Properties of the Neoclassical Growth Model with CES Production

Smetters, Kent - 2003

Despite being the standard growth model for several decades, little is actually known analytically about the dynamic properties of the neoclassical Ramsey-Cass-Koopmans growth model. This paper derives analytically the properties of the endogenous saving rate when technology takes the Constant...

Persistent link: https://www.econbiz.de/10012469166

Interpreting Tests of the Convergence Hypothesis

Bernard, Andrew B. - 1994

This paper provides a framework for understanding the cross- section and time series approaches which have been used to test the convergence hypothesis. First, we present two definitions of convergence which capture the implications of the neoclassical growth model for the relationship between...

Persistent link: https://www.econbiz.de/10012474163

An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy : Expanded Version

Rotemberg, Julio J. - 1998

This paper considers a simple quantitative model of output, interest rate and inflation determination in the United … disturbances, can account for our data nearly as well as an unrestricted VAR. The monetary policy rule that most reduces inflation … high average inflation rate. But even in the case of a constrained-optimal policy, that takes into account some of the …

Persistent link: https://www.econbiz.de/10012472266

On Inflation and Output with Costly Price Changes : A Simple Unifying Result

Benabou, Roland - 1993

We analyze the effect of inflation on the average output of monopolistic firms facing a small fixed cost of changing …

Persistent link: https://www.econbiz.de/10012474604

Long-memory Inflation Uncertainty : Evidence from the Term Structure of Interest Rates

Backus, David K. - 1993

pricing theory: the persistence of the short rate and variability of the long end of the yield curve. We suggest that this …

Persistent link: https://www.econbiz.de/10012474677

Instrumental Variables, Selection Models, and Tight Bounds on the Average Treatment Effect

Heckman, James J. - 2000

This paper exposits and relates two distinct approaches to bounding the average treatment effect. One approach, based on instrumental variables, is due to Manski (1990, 1994), who derives tight bounds on the average treatment effect under a mean independence form of the instrumental variables...

Persistent link: https://www.econbiz.de/10012470929

Bias from Classical and Other Forms of Measurement Error

Hyslop, Dean R. - 2000

We consider the implications of a specific alternative to the classical measurement error model, in which the data are optimal predictions based on some information set. One motivation for this model is that if respondents are aware of their ignorance they may interpret the question what is the...

Persistent link: https://www.econbiz.de/10012470931

Direct Estimation of Policy Impacts

Ichimura, Hidehiko - 2000

This paper specifies a general set of conditions under which the impacts of a policy can be identified using data generated under a different policy regime. We show that some of the policy impacts can be identified under relatively weak conditions on the data and structure of a model. Based on...

Persistent link: https://www.econbiz.de/10012471035

External Treatment Effects and Program Implementation Bias

Philipson, Tomas J. - 2000

This paper discusses the definition and identification of external treatment effects and experimental designs capable of detecting these effects. External effects occur when the outcome of a given individual is affected by the treatment assignments of other individuals. The paper argues that...

Persistent link: https://www.econbiz.de/10012471322

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