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Fiscal Multipliers and the Labour Market in the Open Economy
Faia, Ester - 2010
Several contributions have recently assessed the size of fiscal multipliers both in RBC models and New Keynesian models. None of the studies considers a model with frictional labour markets which is a crucial element, particularly at times in which much of the fiscal stimulus has been directed...
Persistent link: https://www.econbiz.de/10013146168
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Incentive Complexity, Bounded Rationality and Effort Provision
Abeler, Johannes; Huffman, David; Raymond, Collin - 2023
Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to over-provide effort relative to a fully rational...
Persistent link: https://www.econbiz.de/10014347039
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A Model of Overconfidence
Weinberg, Bruce A. - 2009
People use information about their ability to choose tasks. If more challenging tasks provide more accurate information about ability, people who care about and who are risk averse over their perception of their own ability will choose tasks that are not sufficiently challenging. Overestimation...
Persistent link: https://www.econbiz.de/10013158056
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The Role of Bounded Rationality and Imperfect Information in Subgame Perfect Implementation : An Empirical Investigation
Aghion, Philippe - 2015
mechanism should – in theory – provide incentives for truth-telling, many buyers in fact believe that they can increase their …
Persistent link: https://www.econbiz.de/10013023778
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Testing Bounded Rationality Against Full Rationality in Job Changing Behavior
Contini, Bruno; Morini, Matteo - 2021
In this paper we question the hypothesis of full rationality in the context of job changing behaviour, via simple econometric explorations on microdata drawn from WHIP (Worker Histories Italian Panel). Workers' performance is compared at the end of a three-year time window that starts when...
Persistent link: https://www.econbiz.de/10013316720
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Two-Stage Boundedly Rational Choice Procedures : Theory and Experimental Evidence
Manzini, Paola; Mariotti, Marco - 2021
We study and test a class of boundedly rational models of decision making which rely on sequential eliminative heuristics. We formalize two sequential decision procedures, both inspired by plausible models popular among several psychologists and marketing scientists. However we follow a standard...
Persistent link: https://www.econbiz.de/10013317410
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Phillips Curves and Unemployment Dynamics : A Critique and a Holistic Perspective
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2021
reaction theory (CRT), should be used to jointly explain the evolution of inflation and unemployment. A further attraction of …
Persistent link: https://www.econbiz.de/10013317465
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Regional Consumption Responses and the Aggregate Fiscal Multiplier
Dupor, Bill; Karabarbounis, Marios; Kudlyak, Marianna; … - 2022
responses to an aggregate fiscal multiplier using a multi-region, New Keynesian model with heterogeneous agents, incomplete … markets, and trade linkages. Our model is consistent with the estimated positive local multiplier, a result that distinguishes … multiplier is twice as large as the local multiplier because trade linkages propagate the effect of government spending across …
Persistent link: https://www.econbiz.de/10014083720
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The Social Multiplier and Labour Market Participation of Mothers
Maurin, Eric; Moschion, Julie - 2021
A mother's decision to participate in the labour market is correlated with those of the other mothers living in the same neighbourhood. This paper studies the extent to which this is causal. An identification problem exists because mothers with similar characteristics are often observed living...
Persistent link: https://www.econbiz.de/10013317281
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Biased Beliefs and Imperfect Information
Proto, Eugenio - 2015
We perform an incentivized experiment designed to assess the accuracy of beliefs about characteristics and decisions. Subjects are asked to declare some specific choices and characteristics with different levels of observability from an external point of view, and typically formed through real...
Persistent link: https://www.econbiz.de/10013026876