Abstract: In the opening sentence of Money, Interest, and Prices, Patinkin noted that his book was the outgrowth of ideas first presented in his doctoral dissertation. This claim has attracted the attention of most scholars who wrote about his works in recent years. As shown by Boianovsky...

The estimation process in any software project is not only essential, but also a critical element. The success or failure of the project depends heavily on the accuracy of estimates of effort and time. The emergence of agile methods in the field of software development presented many...

In his seminal contribution, Tirole (1985) shows that an overlapping generations economy may monotonically converges to a steady state with a positive rational bubble, characterized by the dynamically efficient golden rule. The issue we address is whether this monotonic convergence to an...

In this paper, we study the equilibrium dynamics of an overlapping generations model with capital, money and cash-in-advance constraints. At each period, the economy can experience two different regimes: either the cash-inadvance constraint is binding and money is a dominated asset, or the...

According to the literature, in an expectations-augmented Phillips curve model, opacity is always preferred to transparency on central bank forecasts. By modelling the private sector's behavior explicitly, we show that transparency reduces the shocks. Consequently, transparency can be preferred.

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...

We study a dynamic and infinite-dimensional model with incomplete multiple prior preferences. In interior efficient allocations, agents share a common risk-adjusted prior and subjective interest rate. Interior efficient allocations and equilibria coincide with those of economies with subjective...