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Dampening General Equilibrium : Incomplete Information and Bounded Rationality
Angeletos, Marios; Lian, Chen - National Bureau of Economic Research - 2022
We review how realistic frictions in information and/or rationality arrest general equilibrium (GE) feedbacks. In one specification, we maintain rational expectations but remove common knowledge of aggregate shocks. In another, we replace rational expectations with Level-k Thinking or a smooth...
Persistent link: https://www.econbiz.de/10012938745
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Human capital formation and international trade
Unel, Bulent - 2013
Persistent link: https://www.econbiz.de/10009703732
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Natural and Neutral Real Interest Rates : Past and Future
Obstfeld, Maurice - National Bureau of Economic Research - 2023
This paper surveys the decline in real interest rates in advanced and emerging economies over the past several decades, linking that process to a range of global factors that have operated with different force in different periods. The paper argues that estimates of long-run equilibrium real...
Persistent link: https://www.econbiz.de/10014447270
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The Female Happiness Paradox
Blanchflower, David G.; Bryson, Alex - National Bureau of Economic Research - 2022
Using data across countries and over time we show that women are unhappier than men in unhappiness and negative affect equations, irrespective of the measure used - anxiety, depression, fearfulness, sadness, loneliness, anger - and they have more days with bad mental health and more restless...
Persistent link: https://www.econbiz.de/10013172192
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Economic disasters and inequality
Ćorić, Bruno; Gupta, Rangan - 2022
Persistent link: https://www.econbiz.de/10013435222
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International Climate Agreements and the Scream of Greta
Maggi, Giovanni; Staiger, Robert W. - National Bureau of Economic Research - 2022
Current policies directed at mitigating global warming appear unlikely to prevent temperatures from rising to levels that would trigger a precipitous increase in the costs of climate change. Various attempts at international cooperation to avoid this outcome have failed. Why is this problem so...
Persistent link: https://www.econbiz.de/10013462728
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Adapting to Flood Risk : Evidence from a Panel of Global Cities
Gandhi, Sahil; Kahn, Matthew E.; Kochhar, Rajat; Lall, … - National Bureau of Economic Research - 2022
Urban flooding poses danger to people and places. People can adapt to this risk by moving to safer areas or by investing in private self-protection. Places can offset some of the risk through urban planning and infrastructure investment. By constructing a global city data set that covers the...
Persistent link: https://www.econbiz.de/10013334356
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A note on oil consumption and growth : the role of greenhouse gases emissions
Nandnaba, Sarah; Hailemariam, Abebe; Gupta, Rangan; … - 2024
Persistent link: https://www.econbiz.de/10014521264
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Long-span multi-layer spillovers between moments of advanced equity markets : the role of climate risks
Foglia, Matteo; Plakandaras, Vasilios; Gupta, Rangan; … - 2024
Persistent link: https://www.econbiz.de/10014515694
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Inflation Targets : Practice Ahead of Theory
King, Mervyn - National Bureau of Economic Research - 2024
Inflation targets were introduced well ahead of the development of the theory of inflation targeting. The practice was … accountable fashion - "constrained discretion"; the later theory was less useful because it purported to be a theory of the … determination of the price level. But inflation targeting does not constitute a new theory of the monetary transmission mechanism …
Persistent link: https://www.econbiz.de/10014576623