Showing 1 - 10 of 12
Persistent link: https://www.econbiz.de/10009708816
Persistent link: https://www.econbiz.de/10010398865
This paper examines monetary policy in Rudebusch and Svensson's (1999) two equation macroeconomic model when the policymaker recognizes that the model is an approximation and is uncertain about the quality of that approximation. It is argued that the minimax approach of robust control provides a...
Persistent link: https://www.econbiz.de/10012471286
Recently there has been a great deal of interest in studying monetary policy under model uncertainty. We point out that different assumptions about the uncertainty may result in drastically different robust' policy recommendations. Therefore, we develop new methods to analyze uncertainty about...
Persistent link: https://www.econbiz.de/10012469134
The economics of climate change involves a vast array of uncertainties, complicating both the analysis and development of climate policy. This study presents the results of the first comprehensive study of uncertainty in climate change using multiple integrated assessment models. The study looks...
Persistent link: https://www.econbiz.de/10012457032
In recent articles, I have argued that integrated assessment models (IAMs) have flaws that make them close to useless as tools for policy analysis. IAM-based analyses of climate policy create a perception of knowledge and precision that is illusory, and can fool policy-makers into thinking that...
Persistent link: https://www.econbiz.de/10012457569
Persistent link: https://www.econbiz.de/10009569409
the last decade large efforts have been made to increase the availability of information to travelers by means of advanced … traveler information systems (ATIS). This paper reviews economic aspects of information in transport markets. First, I will … discuss information acquisition from an economics perspective by characterizing costs and benefits of information, leading to …
Persistent link: https://www.econbiz.de/10011382086
Employment matches under uncertainty are typically accompanied by opportunities for information acquisition. Workers … can acquire specific information about productivity lotteries at the firm or general information affecting their … probabilistic beliefs about work elsewhere. Enterprises can acquire specific information concerning the productivity of a particular …
Persistent link: https://www.econbiz.de/10012478753
role of persistence, information, size and insurability of changes in economic resources. We next examine the empirical … and identify the income process or the information set of the individuals. Second, one can assume that the income process … or the amount of information that consumers have are known and tests the implications of the theory. In general there is …
Persistent link: https://www.econbiz.de/10012462738