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Model uncertainty and aggregated default probabilities : new evidence from Austria

Hofmarcher, Paul; Kerbl, Stefan; Grün, Bettina; … - In: Applied economics 46 (2014) 7/9, pp. 871-879

Persistent link: https://www.econbiz.de/10010398865

Robust Monetary Policy Under Model Uncertainty in a Small Model of the U.S. Economy

Onatski, Alexei - 2000

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

Modeling Model Uncertainty

Onatski, Alexei - 2003

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

Financial stability under model uncertainty

Kantur, Zeynep; Özcan, Gülserim - In: Economics letters 173 (2018), pp. 65-68

Persistent link: https://www.econbiz.de/10012022901

Modeling Uncertainty in Climate Change : A Multi-Model Comparison

Gillingham, Kenneth - 2015

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

The Use and Misuse of Models for Climate Policy

Pindyck, Robert S. - 2015

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

Forecasting national recessions of the United States with state-level climate risks : evidence from model averaging in Markov-switching models

Cepni, Oguzhan; Christou, Christina; Gupta, Rangan - In: Economics letters 227 (2023), pp. 1-6

Persistent link: https://www.econbiz.de/10014335747

Transparent US monetary policy : theory and tests

Hayford, Marc Douglas; Malliaris, Anastasios G. - In: Applied economics 44 (2012) 7/9, pp. 813-824

Persistent link: https://www.econbiz.de/10009569409

The economics of information in transport

Rietveld, Piet - 2010

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

Specific Information, General Information, and Employment Matches Under Uncertainty

Viscusi, W. Kip - 1979

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