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Resilient communities in a resilient economy

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012

President Charles I. Plosser discusses the meaning of resilience and shares his personal experiences with resilient communities, in opening remarks at "Reinventing Older Communities: Building Resilient Cities," in Philadelphia. He also outlines the Bank's new research project to measure urban...

Persistent link: https://www.econbiz.de/10010727109

Viability in multiproduct industries

Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 1989

Persistent link: https://www.econbiz.de/10005389666

Patentability, industry structure, and innovation.

Hunt, Robert M. - Federal Reserve Bank of Philadelphia - 2002

innovation by maximizing the number of firms engaged in R&D. Surprisingly, this standard is more stringent for industries … disposed to innovate rapidly. If a single standard is applied to heterogeneous industries, it will encourage entry, and … therefore innovation, in some industries while discouraging it in others. The model suggest a number of important implications …

Persistent link: https://www.econbiz.de/10005512329

Cournot oligopoly with external costs

Shaffer, Sherrill - Federal Reserve Bank of Philadelphia - 1989

Persistent link: https://www.econbiz.de/10005512366

Perfectual signaling with imperfectly correlated costs

Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 1992

Persistent link: https://www.econbiz.de/10005512387

Consumption, stock returns, and the gains from international risk-sharing

Lewis, Karen K. - Federal Reserve Bank of Philadelphia - 1996

Standard theoretical models predict that domestic residents should diversify their portfolios into foreign assets much more than observed in practice. Whether this lack of diversification is important depends on the potential gains from risk-sharing. General equilibrium models and consumption...

Persistent link: https://www.econbiz.de/10005387510

What is the U.S. gross investment in intangibles? (At least) one trillion dollars a year!

Nakamura, Leonard - Federal Reserve Bank of Philadelphia - 2001

This paper argues that the rate of intangible investment – investment in the development and marketing of new products – accelerated in the wake of the electronics revolution in the 1970s. The paper presents preliminary direct and indirect empirical evidence that US private firms currently...

Persistent link: https://www.econbiz.de/10005387511

Dynamics of investment, debt, and default

Gordon, Grey; Guerrón-Quintana, Pablo - Federal Reserve Bank of Philadelphia - 2013

How does physical capital accumulation affect the decision to default in developing small open economies? We find that, conditional on a level of foreign indebtedness, more capital improves the sovereign’s ability to meet its obligations, reducing the likelihood of default and the risk...

Persistent link: https://www.econbiz.de/10011027300

Speculative investor behavior and learning

Morris, Stephen - Federal Reserve Bank of Philadelphia - 1996

As traders learn about the true distribution of some asset's dividends, a speculative premium occurs as each trader anticipates the possibility of re-selling the asset to another trader before complete learning has occurred. Small differences in prior beliefs lead to large speculative premiums...

Persistent link: https://www.econbiz.de/10005389538

Idiosyncratic shocks and the role of nonconvexities in plant and aggregate investment dynamics.

Khan, Aubhik; Thomas, Julia K. - Federal Reserve Bank of Philadelphia - 2004

result, their individual investments are lumpy. In partial equilibrium, this yields substantial skewness and kurtosis in …

Persistent link: https://www.econbiz.de/10005389564