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IS-LM and the multiplier: A dynamic general equilibrium model
Bénassy, Jean-Pascal - HAL - 2006
We construct in this paper a dynamic general equilibrium model which displays the central features of the IS-LM model, and notably an income multiplier greater than one, so that crowding out does not occur. It appears that the key to this result is the conjunction of two features of our model:...
Persistent link: https://www.econbiz.de/10010930233
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Are Unit Root Tests Useful in the Debate over the (Non)Stationarity of Hours Worked?
Charles, Amélie; Darné, Olivier; Tripier, Fabien - HAL - 2010
This article compares the performances of some non-stationarity tests on simulated series, using the business-cycle model of Chang et al. (2007) [Y. Chang, T. Doh, F. Schorfheide, (2007). Non-stationary Hours in a DSGE Model. Journal of Money, Credit and Banking 39, 357-1373] as data generating...
Persistent link: https://www.econbiz.de/10008794175
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Search frictions, real wage rigidities and the optimal design of unemployment insurance
Albertini, Julien; Fairise, Xavier - HAL - 2013
the optimal policies clearly highlights the role of labor market institutions for short-run stabilization. …
Persistent link: https://www.econbiz.de/10010899923
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Food Prices and Inflation Targeting in Emerging Economies
Pourroy, Marc; Carton, Benjamin; Coulibaly, Dramane - HAL - 2012
The two episodes of food price surges in 2007 and 2011 have been particularly challenging for developing and emerging economies' central banks and have raised the question of how monetary authorities should react to such external relative price shocks. We develop a new-keynesian small...
Persistent link: https://www.econbiz.de/10010635174
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Organizational Learning: A Process Between Equilibrium and Evolution
Cayla, David - HAL - 2008
This paper aims to analyze learning as a two-type process. A dynamic equilibrium process represents a stable learning process, that may express an individualistic behavioral learning or an organizational adaptation. A teleological process represents an intentional, goal-oriented, learning...
Persistent link: https://www.econbiz.de/10010750849
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Effect of Uncertainty about Others' Rationality in Experimental Asset Markets: An Experimental Analysis
Akiyama, Eizo; Hanaki, Nobuyuki; Ishikawa, Ryuichiro - HAL - 2012
the uncertainty of subjects regarding others' rationality. We do so by comparing the price forecasts submitted by subjects … hypothesis that uncertainty about others' rationality plays a major role in causing substantial deviation of forecast prices from …
Persistent link: https://www.econbiz.de/10010933826
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The World According to GARP* : Non-parametric Tests of Demand Theory and Rational Behavior
Diaye, Marc-Arthur; Gardes, François; Starzec, Christophe - HAL - 2008
The purpose of this paper is twofold. We first point out that violation of rationality axioms (SARP, GARP, WARP) do not … non-respect of demand theory axioms but by the changing of preferences over the period. A logistic regression confirms the …
Persistent link: https://www.econbiz.de/10009643767
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The rationality of expectations formation and excess volatility
Davila, Julio - HAL - 2008
I establish, in simple deterministic overlapping generations economies, that if each agent holds rationally formed expectations in the sense that any other expectations justifying his choices imply a smaller likelihood for the history he observes with limited memory, then there are rationally...
Persistent link: https://www.econbiz.de/10010750627
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Learning, Rationality and Identity Building
Cayla, David - HAL - 2008
This paper focuses on the link between the economic conceptions of rationality and learning. Traditionally, most … is not the process of learning, but the result of learning: ‘a fully rational agent'. Heterodox rationality conceptions … such as the Simonian model of bounded rationality seem more compatible with the idea of learning. Bounded rationality …
Persistent link: https://www.econbiz.de/10010751001
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Rationality, behavior, institutional and economic change in Schumpeter
Festré, Agnès; Garrouste, Pierre - HAL - 2008
In 1940 Schumpeter wrote a paper entitled: "The Meaning of Rationality in the Social Sciences", which was intended to …, that he took the initiative to start. In this paper Schumpeter develops thoroughly his own conception of rationality in … indeed interestingly anticipates some important debates concerning the problem of rationality and behavior in economics and …
Persistent link: https://www.econbiz.de/10010738554