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Kane, Edward J. - 2006

Financial safety nets are incomplete social contracts that assign responsibility to various economic sectors for preventing, detecting, and paying for potentially crippling losses at financial institutions. This paper uses the theories of incomplete contracts and sequential bargaining to...

Persistent link: https://www.econbiz.de/10012465955

Incomplete Information in Macroeconomics : Accommodating Frictions in Coordination

Angeletos, George-Marios - 2016

This chapter studies how incomplete information helps accommodate frictions in coordination, leading to novel insights … unifies unique- and multiple-equilibrium models; and the ability of incomplete information to offer a parsimonious explanation …

Persistent link: https://www.econbiz.de/10012456378

Uncertainty as Commitment

Nosal, Jaromir - 2013

Time-inconsistency of no-bailout policies can create incentives for banks to take excessive risks and generate endogenous crises when the government cannot commit. However, at the outbreak of financial problems, usually the government is uncertain about their nature, and hence it may delay...

Persistent link: https://www.econbiz.de/10012459895

Reforming the welfare state : recovery and beyond in Sweden

Freeman, Richard B. (ed.); Swedenborg, Birgitta (contributor) - 2010

Persistent link: https://www.econbiz.de/10003851392

Differences of Opinion, Rational Arbitrage and Market Crashes

Hong, Harrison - 1999

We develop a theory of stock-market crashes based on differences of opinion among investors. Because of short …-sales constraints, bearish investors do not initially participate in the market and their information is not revealed in prices. However … information tends to come out during market declines. The model helps explain a variety of stylized facts, including: 1) large …

Persistent link: https://www.econbiz.de/10012471408

The Science of Monetary Policy : A New Keynesian Perspective

Clarida, Richard - 1999

the implications of frictions such as imperfect information …

Persistent link: https://www.econbiz.de/10012471647

Dampening General Equilibrium : Incomplete Information and Bounded Rationality

Angeletos, Marios; Lian, Chen - National Bureau of Economic Research - 2022

We review how realistic frictions in information and/or rationality arrest general equilibrium (GE) feedbacks. In one … discounting, capture the same essence while offering a gain in tractability. Relative to the full-information rational …

Persistent link: https://www.econbiz.de/10012938745

Imperfect Information and Staggered Price Setting

Ball, Laurence - 1987

current state of the economy and gain information by observing the prices set by others. This gives each firm an incentive to … information gains can make staggering socially optimal even though it increases aggregate fluctuations …

Persistent link: https://www.econbiz.de/10012476868

Imperfect Information, Credit Markets and Unemployment

Greenwald, Bruce C. - 1986

This paper describes how imperfect information in both capital and labor markets can, in a context of maximizing firms …

Persistent link: https://www.econbiz.de/10012476976

Reputation in a Model of Monetary Policy with Incomplete Information

Barro, Robert J. - 1986

Previous models of rules versus discretion are extended to include uncertainty about the policymaker's "type." When people observe low inflation, they raise the possibility that the policymaker is committed to low inflation (type 1). This enhancement of reputation gives the uncommitted...

Persistent link: https://www.econbiz.de/10012477283

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