Showing 1 - 10 of 92
We conduct an empirical simulation exercise that gauges the plausible impact of increased rates of college attainment …
Persistent link: https://www.econbiz.de/10014101795
of the outcome and the treatment are varied across simulation scenarios. Results show that 2SLS generated consistent …
Persistent link: https://www.econbiz.de/10012947010
factor. We then set up and estimate a market equilibrium model to quantify the impact of local protection, controlling for …
Persistent link: https://www.econbiz.de/10012949439
Traditional economic models have had difficulty explaining the non-monotonic real effects of credit booms and, in particular, why they have predictable negative after-effects for up to a decade. We provide a systematic transmission mechanism by focusing on the flows of resources between...
Persistent link: https://www.econbiz.de/10012920372
This paper analyzes saving and capital accumulation in a two-good growth model of two market economies in which … economic agents optimize with perfect foresight. The goal is to present a model in which short-run dynamics and the steady … internationally and intertemporally. While many components of the model described below can be found in the literature on optimal …
Persistent link: https://www.econbiz.de/10013218346
Making use of restrictions imposed by equilibrium, theoretical progress has been made on the nonparametric and semiparametric estimation and identification of scalar additive hedonic models (Ekeland, Heckman, and Nesheim, 2002) and scalar nonadditive hedonic models (Heckman, Matzkin, and...
Persistent link: https://www.econbiz.de/10013219280
macroeconometric models: the Fuhrer-Moore model, Taylor's Multi-Country Model, the MSR model of Orphanides and Wieland, and the FRB … staff model. All four models incorporate the assumptions of rational expectations, short-run nominal inertia, and long … output-inflation volatility frontier of each model for alternative specifications of the interest rate rule, subject to an …
Persistent link: https://www.econbiz.de/10013223571
In the United States, local government expenditures are heavily subsidized through a variety of sources. This paper explores theoretically and then simulates empirically the effects of eliminating either of two federal subsidies encouraging local government expenditures: (1) income tax...
Persistent link: https://www.econbiz.de/10013223591
computational general equilibrium model. We feed this multi-country overlapping generations model with detailed long …
Persistent link: https://www.econbiz.de/10013227231
reduced-form model specifications. In the current paper we take a very different approach: a prospective micro-simulation … approach. Using Monte Carlo techniques we model how future price controls in the U.S. will impact early-stage product …
Persistent link: https://www.econbiz.de/10013227913