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Disequilibrium Dynamics with Inventories and Anticipatory Price-Setting : Some Impirical Results
Green, Jerry; Laffont, Jean-Jacques - 2021
The basic assumption of this paper is an attempt to be specific about price formation while retaining a fixed-price, quantity-constrained equilibration in the short-run. The second theme of this paper is the role of inventories in macrodynamics a topic of long-recognized importance, but one...
Persistent link: https://www.econbiz.de/10013236715
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Inventories
Ramey, Valerie A.; West, Kenneth D. - 2021
We review and interpret recent work on inventories, emphasizing empirical and business cycle aspects. We begin by documenting two empirical regularities about inventories. The first is the well-known one that inventories move procyclically. The second is that inventory movements are quite...
Persistent link: https://www.econbiz.de/10013210702
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Inventories, Rational Expectations, and the Business Cycle
Blinder, Alan S.; Fischer, Stanley - 2022
The simplest macroeconomic models in which markets clear instantaneously, and expectations are rational preclude the existence of "business cycles," that is, of serially correlated deviations of output from trend. This paper studies one of several mechanisms that can be used to make these...
Persistent link: https://www.econbiz.de/10014135401
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Inventory Models
West, Kenneth D. - 2021
Econometric aspects of recent research on inventory models are surveyed. The discussion emphasizes issues relevant to instrumental variables estimation of a first order condition of the Holt et al. (1960) linear quadratic inventory model, including choice of instruments, covariance matrix...
Persistent link: https://www.econbiz.de/10013226948
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Testing for Information Asymmetries in Real Estate Markets
Kurlat, Pablo D. - 2014
We study equilibrium outcomes in markets with asymmetric information about asset values among both buyers and sellers. In residential real estate markets hard-to-observe neighborhood characteristics are a key source of information heterogeneity: sellers are usually better informed about...
Persistent link: https://www.econbiz.de/10013059752
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How Much Does Sorting Increase Inequality?
Kremer, Michael - 2021
Social commentators from William Julius Wilson to Charles Murray have argued that increased sorting of people into internally homogeneous" neighborhoods,schools, and marriages is spurring long-run inequality. Cali- bration of a formal model suggests that these fears are misplaced. In order to...
Persistent link: https://www.econbiz.de/10013239355
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Experimental Analysis of Neighborhood Effects
Kling, Jeffrey R.; Liebman, Jeffrey B.; Katz, Lawrence F. - 2021
Families, primarily female-headed minority households with children, living in high-poverty public housing projects in five U.S. cities were offered housing vouchers by lottery in the Moving to Opportunity program. Four to seven years after random assignment, families offered vouchers lived in...
Persistent link: https://www.econbiz.de/10013246525
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Local Public Good Provision : Voting, Peer Effects, and Mobility
Calabrese, Stephen; Epple, Dennis; Romer, Thomas; Sieg, … - 2022
Few empirical strategies have been developed that investigate public provision under majority rule while taking explicit account of the constraints implied by mobility of households. The goal of this paper is to improve our understanding of voting in local communities when neighborhood quality...
Persistent link: https://www.econbiz.de/10014061579
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Accounting for Price Endogeneity in Airline Itinerary Choice Models : An Application to Continental U.S. Markets
Lurkin, Virginie - 2016
Network planning models, which forecast the profitability of airline schedules, support many critical decisions, including equipment purchase decisions. Network planning models include an itinerary choice model that is used to allocate air total demand in a city pair to different itineraries....
Persistent link: https://www.econbiz.de/10012981108
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A Conic Algorithm for the Group Minimization Problem
Simeone, Bruno - 2021
A new algorithm for the group minimization problem (GP) is proposed. The algorithm can be broadly described as follows …-known algorithm of Glover, and checked for non-negativity. The first non-negative point is an optimal solution of (GP). Advantages and … disadvantages of the algorithm are discussed; in particular, the implementation of the algorithm (which can be easily extended so as …
Persistent link: https://www.econbiz.de/10013224215