Showing 1 - 10 of 1,546
We propose a dynamic production function of population health and mortality from birth onwards. Our parsimonious model … provides an excellent fit for the mortality and survival curves for both primate and human populations since 1816. The model … mortality gradients across socio-economic statuses, (ii) non-monotonic dynamic effects of in-utero shocks, (iii) persistent or …
Persistent link: https://www.econbiz.de/10012518293
This paper develops an overlapping agents model with age-specific mortality rates. The analytical framework also nests … Blanchard''s (1985) ""perpetual youth"" model as a special, though perhaps not realistic, case. With age specific mortality … replicate the empirical relation between age and mortality. The comparative implications for deficit finance are also examined …
Persistent link: https://www.econbiz.de/10014400071
examines one particular channel at work: the supply of credit. It presents a model in which a bank, even if managed by risk …
Persistent link: https://www.econbiz.de/10014394461
The paper considers gains from international economic policy coordination when there is uncertainty concerning the functioning of the world economy, but also learning about the “true” model on the part of policymakers. The paper reports estimates of plausible alternative versions of a...
Persistent link: https://www.econbiz.de/10014395854
The relationship between current account developments and changes in the macroeconomic environment remains a key issue in open economy macroeconomics. This paper extends the standard intertemporal optimizing model of the current account to incorporate the effects of macroeconomic uncertainty on...
Persistent link: https://www.econbiz.de/10014396005
and real shocks, and the credibility component depends on the mean and risk of real asset returns. Thus, observed booms …
Persistent link: https://www.econbiz.de/10014396072
time-varying risk. Some work by Abel provided us with the insights needed to produce such formulas. This paper gives a …
Persistent link: https://www.econbiz.de/10014396175
We study the effects of permanent and temporary income shocks on precautionary saving and investment in a ""store-or-sow"" model of growth. High volatility of permanent shocks results in high precautionary saving in the safe asset and low investment, or a ""volatility trap."" Namely, big savers...
Persistent link: https://www.econbiz.de/10014396572
increases, the theory predicts an increase in the optimal level of bank capital. This paper investigates this implication …
Persistent link: https://www.econbiz.de/10014397543
International macroeconomic policy coordination is generally considered to be made less likely—and less profitable—by the presence of uncertainty about how the economy works. The present paper provides a counter-example, in which increased uncertainty about portfolio preference of investors...
Persistent link: https://www.econbiz.de/10014397897