Showing 1 - 10 of 141
We develop a three-stage model of abatement technology search, adoption, and deployment. Using this model, which draws … on search theory tools more frequently used in labour and monetary economics, we compare market-based and command …-and-control pollution control instruments with respect to the incentives each provides for abatement technology search and adoption …
Persistent link: https://www.econbiz.de/10010349873
Algorithm-based decision support systems play an increasingly important role in decisions involving exploration tasks, such as product searches, portfolio choices, and human resource procurement. These tasks often involve a trade-off between exploration and exploitation, which can be highly...
Persistent link: https://www.econbiz.de/10013482224
all their candidates) only wage mechanisms that allow for ex post Bertrand competition generate the maximum matching on a … realized network. -- efficiency ; network clearing ; random bipartite network formation ; simultaneous search …
Persistent link: https://www.econbiz.de/10009239488
We present an equilibrium model with inter-linked labour and marriage markets, and argue that search frictions play an … affects their job search behaviour, which in turn can lead to marital wage gaps ranked across productivities. Male … marriage market, male reservation wages linked to productivities do affect the resulting assortative matching structure, and …
Persistent link: https://www.econbiz.de/10011669663
welfare under incomplete contracting and endogenous matching. Contract incompleteness implies underinvestment. That …
Persistent link: https://www.econbiz.de/10011927909
Vi. First, we estimate a structural model of assortative marriage matching and show that such beliefs’ importance in …
Persistent link: https://www.econbiz.de/10015046286
housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can not only … the importance of stock-flow matching for understanding housing market dynamics. …This paper investigates the US housing market from just before the Great Recession onward (2006-2019) and assesses the …
Persistent link: https://www.econbiz.de/10013419282
We develop a behavioral macroeconomic model in which agents use simple but biased rules to forecast future output and inflation. This model generates endogenous waves of optimism and pessimism ("Animal Spiritsʺ) that are generated by the correlation of biased beliefs. We contrast the dynamics...
Persistent link: https://www.econbiz.de/10003763301
We derive the optimal monetary policy in a sticky price model when private agents follow adaptive learning. We show that this slight departure from rationality has important implications for policy design. The central bank faces a new intertemporal trade-off, not present under rational...
Persistent link: https://www.econbiz.de/10003974493
We study a general static noisy rational expectations model, where investors have private information about asset payoffs, with common and private components, and about their own exposure to an aggregate risk factor, and derive conditions for existence and uniqueness (or multiplicity) of...
Persistent link: https://www.econbiz.de/10003994517