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Logit Price Dynamics
Costain, James - 2013
We propose a near-rational model of retail price adjustment consistent with microeconomic and macroeconomic evidence on price dynamics. Our framework is based on the idea that avoiding errors in decision making is costly. Given our assumed cost function for error avoidance, the timing of firms'...
Persistent link: https://www.econbiz.de/10013087226
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A General Equilibrium Model of the Oil Market
Nakov, Anton; Nuño, Galo - 2011
We present a general equilibrium model of the global oil market, in which the oil price, oil production, and consumption, are jointly determined as outcomes of the optimizing decisions of oil importers and oil exporters. On the supply side the oil market is modelled as a dominant firm – Saudi...
Persistent link: https://www.econbiz.de/10014176832
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TFP Growth and its Determinants : Nonparametrics and Model Averaging
Danquah, Michael; Moral-Benito, Enrique; Ouattara, Bazoumana - 2011
Total Factor Productivity (TFP) accounts for a sizeable proportion of the income and growth differences across countries. Two challenges remain to researchers aiming to explain these differences: on the one hand, TFP growth is hard to measure; on the other hand, model uncertainty hampers...
Persistent link: https://www.econbiz.de/10014183890
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Natural Language Processing and Financial Markets : Semi-supervised Modelling of Coronavirus and Economic News
Moreno, Carlos; Minozzo, Marco - 2022
This paper investigates the reactions of US financial markets to press news from January 2019 to 1 May 2020. To this end, we deduce the content and sentiment of the news by developing apposite indices from the headlines and snippets of The New York Times, using unsupervised machine learning...
Persistent link: https://www.econbiz.de/10014076948
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Financial Institutions' Business Models and the Global Transmission of Monetary Policy
Argimón, Isabel - 2018
Global financial institutions play an important role in channeling funds across countries and, therefore, transmitting monetary policy from one country to another. In this paper, we study whether such international transmission depends on financial institutions' business models. In particular,...
Persistent link: https://www.econbiz.de/10012917276
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Development, Growth and Volatility
Moro, Alessio - 2010
theory of development consistent with these three facts. I show that even when total factor productivity (TFP) growth and …
Persistent link: https://www.econbiz.de/10013141336
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Trade and Credit : Revisiting the Evidence
Gutiérrez Chacón, Eduardo - 2019
This paper explores the effects of bank lending shocks on export behavior of Spanish firms. For that purpose, we combine Balance of Payments data on exports at the firm product-destination level with a matched bank-firm dataset incorporating information on the universe of corporate loans from...
Persistent link: https://www.econbiz.de/10012894264
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From Secular Stagnation to Robocalypse? Implications of Demographic and Technological Changes
Basso, Henrique S.; Jimeno, Juan F. - 2021
Demographic change and automation are two main structural trends shaping the macroeconomy in the next decades. We present a general equilibrium model with a tractable life-cycle structure that allows the investigation of the main transmission mechanisms by which demography and technology affect...
Persistent link: https://www.econbiz.de/10013230265
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International Migration Pressures in the Long Run
Campos, Rodolfo G. - 2017
migration flows for the whole world. In contrast to their findings, and despite of the slowdown of population growth in Latin … America, the US will face sustained immigration pressures because of strong population growth in other regions of the world …, leading to a projected immigrant stock that grows for decades to come. For the world as a whole, international migrants are …
Persistent link: https://www.econbiz.de/10012944491
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Spillover Effects in International Business Cycles
Camacho, Maximo; Pacce, Matías; Pérez-Quirós, Gabriel - 2020
share of the world factor as a source of the international transmission of fluctuations is still signicant, this is …
Persistent link: https://www.econbiz.de/10014090816