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New Keynesian models : not yet useful for policy analysis

Chari, Varadarajan V. (contributor); … - 2008

In the 1970s macroeconomists often disagreed bitterly. Macroeconomists have now largely converged on method, model design, and macroeconomic policy advice. The disagreements that remain all stem from the practical implementation of the methodology. Some macroeconomists think that New Keynesian...

Persistent link: https://www.econbiz.de/10003774553

Sales and the real effects of monetary policy

Kehoe, Patrick J. (contributor); … - 2007

In the data, a sizable fraction of price changes are temporary price reductions referred to as sales. Existing models include no role for sales. Hence, when confronted with data in which a large fraction of price changes are sales related, the models must either exclude sales from the data or...

Persistent link: https://www.econbiz.de/10003479621

Comparing alternative representations, methodologies, and decompositions in business cycle accounting

Chari, Varadarajan V. (contributor); … - 2006

Persistent link: https://www.econbiz.de/10003485980

If exchange rates are random walks then almost everything we say about monetary policy is wrong

Alvarez, Fernando (contributor); Atkeson, Andrew (contributor) - 2007

Persistent link: https://www.econbiz.de/10003486025

Respect

Manning, Alan (contributor) - 2007

Persistent link: https://www.econbiz.de/10003462775

Sticky prices and sectoral real exchange rates

Kehoe, Patrick J. (contributor); … - 2007

theory for persistence have some modest support: in the data, the stickier is the price of a good the more persistent is its … real exchange rate, but the theory predicts much more variation in persistence than is in the data. The predictions of the … theory for volatiity fare less well: in the data, the stickier is the price of a good the smaller is its conditional variance …

Persistent link: https://www.econbiz.de/10003579972

Reply to Solow

Chari, Varadarajan V. (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003580339

More effort with less pay : on information avoidance, belief design and performance

Huck, Steffen; Szech, Nora; Wenner, Lukas M. - 2015

In a tedious real effort task, agents can choose to receive information about their piece rate that is either low or ten times higher. One third of subjects deliberately decide to forego this instrumental information, revealing a preference for information avoidance. Strikingly, agents who face...

Persistent link: https://www.econbiz.de/10011284957

Markets for leaked information

Huck, Steffen; Weizsäcker, Georg - 2015 - November 2015

We study markets for sensitive personal information. An agent wants to communicate with another party but any revealed information can be intercepted and sold to a third party whose reaction harms the agent. The market for information induces an adverse sorting effect, allocating the information...

Persistent link: https://www.econbiz.de/10011380192

More effort with less pay : on information avoidance, belief design and performance

Huck, Steffen; Szech, Nora; Wenner, Lukas M. - 2015 - June 2015, revised September 2015

In a tedious real effort task, subjects know that their piece rate is either low or ten times higher. When subjects are informed about their piece rate realization, they adapt their performance. One third of subjects nevertheless forego this instrumental information when given the choice - and...

Persistent link: https://www.econbiz.de/10011340265