Showing 1 - 10 of 1,578
This paper analyzes the stochastic inventory control problem when the demand distribution is not known. In contrast to previous Bayesian inventory models, this paper adopts a non-parametric Bayesian approach in which the firm’s prior information is characterized by a Dirichlet process prior....
Persistent link: https://www.econbiz.de/10014400239
determines the relative price of investment, can affect the investment rate and the permanent growth rate of the economy. The …
Persistent link: https://www.econbiz.de/10014398005
, or correctly defined, shadow prices. We show how shadow prices may be integrated into an analysis of tax and price reform …
Persistent link: https://www.econbiz.de/10014396134
. Even when individual prices and outputs are correctly measured, however, shifts in relative prices consequent to price …
Persistent link: https://www.econbiz.de/10014398096
productivity. It is found that changes in the relative price of tradable goods in terms of nontradables account for a sizable … behavior of the relative price of tradable goods, especially in the long run. There is also some evidence that the EMS has … extended on relative price behavior …
Persistent link: https://www.econbiz.de/10014396038
This paper examines the evolution of the relative price between tradable and nontradable goods in a group of European … price of nontradable goods. These factors are: (a) faster technological progress in the tradable goods sector; (b) demand …
Persistent link: https://www.econbiz.de/10014396071
eliminate supply rents, price liberalization may be accompanied by substantial output losses. A role for tax policy in limiting …
Persistent link: https://www.econbiz.de/10014398133
Persistent link: https://www.econbiz.de/10009572544
Following the global financial crisis, significant uncertainty has existed around the U.S. economy's steady state equilibrium. This paper uses a factor model to provide a new approach to estimating 'the stars' (i.e. the neutral interest rate, maximum employment, and the level and growth rate of...
Persistent link: https://www.econbiz.de/10012299370
This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that neglecting heterogeneity and dynamics can lead to misleading...
Persistent link: https://www.econbiz.de/10014400163