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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

Inflation And Taxation With Optimizing Governments

Poterba, James M. - 1988

This paper extends and evaluates previous work on the positive theory of inflation. We examine the behavior of … governments concerned solely with minimizing the deadweight loss from raising revenue through inflation and tax finance. We show … positive contemporaneous association between inflation and the level of tax burdens. We examine the empirical validity of this …

Persistent link: https://www.econbiz.de/10012476501

A Heuristic Method for Extracting Smooth Trends from Economic Time Series

Rotemberg, Julio J. - 1999

This paper proposes a method for separating economic time series into a smooth component whose mean varies over time (the trend') and a stationary component (the cycle'). The aim is to make the trends as smooth as possible while also producing cycles with plausible properties. While the main...

Persistent link: https://www.econbiz.de/10012471343

Infant-Industry Protection Reconsidered : The Case of Informational Barriers to Entry

Grossman, Gene M. - 1987

In industries with imperfect consumer information, the lack of a reputation puts latecomers at a competitive disadvantage vis-a-vis established firms. We consider whether the existence of such informational barriers to entry provides a valid reason for temporarily protecting infant producers of...

Persistent link: https://www.econbiz.de/10012476910

Quotas and the Stability of Implicit Collusion

Rotemberg, Julio J. - 1986

Persistent link: https://www.econbiz.de/10012477124

Foreign Counterfeiting of Status Goods

Grossman, Gene M. - 1986

We study the positive and normative effects of counterfeiting, i.e.,trademark infringement, in markets where consumers are not deceived by forgeries.The fact that consumers are willing to pay more for counterfeits than for generic merchandise of similar quality suggests that they value the...

Persistent link: https://www.econbiz.de/10012477159

Dynamic R&D Competition

Grossman, Gene M. - 1985

We study a simple, two-stage, stochastic patent race involving two firms. We examine the behavior of the participants as they gain the lead or fall behind in the race. We find that the leader engages in R&D more intensively than does the follower, and that both firms intensify their efforts if...

Persistent link: https://www.econbiz.de/10012477406

Optimal Dynamic R&D Programs

Grossman, Gene M. - 1985

We study the optimal pattern of outlays for a single firm pursuing an R&D program over time. In the deterministic case, (a) the amount of progress required to complete the project is known, and (b) the relationship between outlays and progress is known. In this case, it is optimal to increase...

Persistent link: https://www.econbiz.de/10012477422

Targeted Export Promotion with Several Oligopolistic Industries

Dixit, Avinash K. - 1984

In this paper we ask whether a policy of targeted export promotion can raise domestic welfare when several oligopolistic industries all draw on the same scarce factor of production. Our point of departure is one of Cournot duopoly in which a single home firm competes with a single foreign firm...

Persistent link: https://www.econbiz.de/10012477753

Exchange Rate Dynamics with Sticky Prices : The Deutsch Mark, 1974-1982

Giovannini, Alberto - 1984

This paper estimates simultaneously dynamic equations for the Deutsche Mark/Dollar exchange rate and the German wholesale price index, which emerge from a model in which German prices are sticky. This stickiness is due to price adjustment costs which take the form posited by Rotemberg(1982).The...

Persistent link: https://www.econbiz.de/10012477815