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Beniers, Klaas J.; Dur, Robert A. J.; Swank, Otto H. - 2003

The collection of information necessary fordecision-making is often delegated to agents (e.g. bureaucrats,advisors, lawyers). If both the pros and cons of a decision haveto be examined, it is better to use competing agents instead of asingle agent. The reason is that two conflicting pieces...

Persistent link: https://www.econbiz.de/10011326399

The effect of fiscal rules on public investment if budget deficits are politically motivated

Dur, Robert A. J.; Peletier, Ben D.; Swank, Otto H. - 1997

Uncertainty about the future preferences of the government may induce policy makers to run excessive budget deficits. As a solution to this problem, economists have proposed to impose a binding debt rule. In this paper we argue that a binding debt rule does not eliminate the distortions due to...

Persistent link: https://www.econbiz.de/10010371104

A Bayesian analysis of unobserved component models using Ox

Bos, Charles S. - 2011

Estimation of the volatility of time series has taken off since the introduction of the GARCH and stochastic volatility … unobserved stochastic volatility, and the varying approaches that have been taken for such estimation.In order to simplify the … comprehension of these estimation methods, the main methods for estimating stochastic volatility are discussed, with focus on their …

Persistent link: https://www.econbiz.de/10011386121