Narrow search
Showing 1 - 10 of 4,240
Cover Image
An offer you can't refuse? : incentives change what we believe
Ambuehl, Sandro - 2017
Much of economics assumes that higher incentives increase participation in a transaction only because they exceed more … costly, higher incentives also change reservation prices to further increase participation. A higher incentive makes people …. Hence, incentives change not only what people choose, but also what they believe their choices entail. This result informs …
Persistent link: https://www.econbiz.de/10011588031
Cover Image
Uncertainty and fiscal policy in an asymmetric monetary union
Hefeker, Carsten (contributor); Zimmer, Blandine (contributor) - 2008
The paper examines the monetary-fiscal interactions in a monetary union model with uncertainty due to imperfect central bank transparency. We first show that monetary uncertainty disciplines fiscal policymakers and thereby reduces taxes, average inflation and output distortions. However, as more...
Persistent link: https://www.econbiz.de/10003749682
Cover Image
Booms and busts : new Keynesian and behavioral explanations
De Grauwe, Paul - 2010
in economic growth. Every macro-economic theory should attempt to explain these endemic business cycle movements. In this …
Persistent link: https://www.econbiz.de/10008806543
Cover Image
Arm's length provision of public services
Bennedsen, Morten (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003624571
Cover Image
Animal spirits and monetary policy
De Grauwe, Paul (contributor) - 2008
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
Cover Image
Business cycle dynamics of a new Keynesian overlapping generations model with progressive income taxation
Heer, Burkhard (contributor); Maußner, Alfred (contributor) - 2006
In our dynamic optimizing sticky price model, agents are heterogeneous with regard to their age and their productivity. We find that the business cycle dynamics in the OLG model in response to both a technology shock and a monetary shock are similar, but not completely identical to those found...
Persistent link: https://www.econbiz.de/10003301356
Cover Image
Attention and selection effects
Ambuehl, Sandro; Ockenfels, Axel; Stewart, Colin - 2018
Who participates in transactions when information about the consequences must be learned? We show theoretically that decision makers for whom acquiring and processing information is more costly respond more strongly to changes in incentive payments for participating and decide to participate...
Persistent link: https://www.econbiz.de/10011863553
Cover Image
Open market operations as a monetary policy shock measure in a quantitative business cycle model
Heer, Burkhard; Schabert, Andreas - 2000
This paper presents a business cycle analysis of monetary policy shocks measured by disturbances to open market operations, i.e. the ratio of open market papers to non-borrowed reserves. We find empirical evidence for the usefulness of this policy measure, as it predicts significant declines in...
Persistent link: https://www.econbiz.de/10009780205
Cover Image
Central banking and crisis management from the perspective of Austrian business cycle theory
Schnabl, Gunther - 2016
The paper analyses the evolvement and effects of central bank crisis management since the mid 1980s based on a Hayek-Mises-Wicksell overinvestment framework. It is shown that, given that the traditional transmission mechanism between monetary policy and consumer price inflation has collapsed,...
Persistent link: https://www.econbiz.de/10011561161
Cover Image
Animal spirits and credit cycles
De Grauwe, Paul; Macchiarelli, Corrado - 2013
In this paper we extend the behavioral macroeconomic model as proposed by De Grauwe (2012) to include a banking sector. The behavioral model takes the view that agents have limited cognitive limitations. As a result, it is rational to use simple forecasting rules and to subject the use of these...
Persistent link: https://www.econbiz.de/10010210693