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Cao, Jin (contributor); Illing, Gerhard (contributor) - 2008

Persistent link: https://www.econbiz.de/10003635213

Cao, Jin; Illing, Gerhard - 2009

Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing, 2008), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback between lender of last resort policy and incentives of...

Persistent link: https://www.econbiz.de/10003833348

Welfare costs of inflation in a dynamic economy with search unemployment and endogenous growth

Heer, Burkhard - 2000

Recent work on money and endogenous growth finds modest welfare costs of inflation. Furthermore, high inflation reduces … rate of inflation depending on the elasticity of labor supply. Considering the transition dynamics following a change in … the monetary policy, the optimal quarterly inflation rate is found to amount to approximately 3.5% in the benchmark case …

Persistent link: https://www.econbiz.de/10009781573

Technology shocks and aggregate fluctuations in an estimated hybrid RBC model

Malley, James R.; Woitek, Ulrich - 2009

This paper contributes to the on-going empirical debate regarding the role of the RBC model and in particular of technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov-Chain Monte-Carlo (MCMC) methods. Within this framework we...

Persistent link: https://www.econbiz.de/10003833344

Productivity shocks and aggregate cycles in an estimated endogenous growth model

Malley, James R.; Woitek, Ulrich - 2009

Using a two-sector endogenous growth model, this paper explores how productivity shocks in the goods and human capital producing sectors contribute to explaining aggregate cycles in output, consumption, investment and hours. To contextualize our findings, we also assess whether the human capital...

Persistent link: https://www.econbiz.de/10003850283

Third-party intervention in conflicts and the indirect samaritan's dilemma

Amegashie, J. Atsu - 2009

I study a two-period model of conflict with two combatants and a third party who is an ally of one of the combatants. The third party is fully informed about the type of her ally but not about the type of her ally's enemy. There is a signaling game between the third party and her ally's enemy...

Persistent link: https://www.econbiz.de/10003854485

Core-stable rings in auctions with independent private values

Biran, Omer; Forges, Françoise - 2010

We propose a semi-cooperative game theoretic approach to check whether a given coalition is stable in a Bayesian game with independent private values. The ex ante expected utilities of coalitions, at an incentive compatible (noncooperative) coalitional equilibrium, describe a (cooperative)...

Persistent link: https://www.econbiz.de/10003974150

Jointness of growth determinants

Doppelhofer, Gernot (contributor); Weeks, Melvyn (contributor) - 2007

Persistent link: https://www.econbiz.de/10003497528

Learning, structural instability and present value calculations

Pesaran, M. Hashem (contributor); … - 2006

Present value calculations require predictions of cash flows both at near and distant future points in time. Such predictions are generally surrounded by considerable uncertainty and may critically depend on assumptions about parameter values as well as the form and stability of the data...

Persistent link: https://www.econbiz.de/10003300967

A non-linear forecast combination procedure for binary outcomes

Lahiri, Kajal; Yang, Liu - 2015

We develop a non-linear forecast combination rule based on copulas that incorporate the dynamic interaction between individual predictors. This approach is optimal in the sense that the resulting combined forecast produces the highest discriminatory power as measured by the receiver operating...

Persistent link: https://www.econbiz.de/10010475341

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