Similar Search Results

How Do Strategic Complementarity and Substitutability Shape Equilibrium Dynamics?

Beaudry, Paul; Galizia, Dana S.; Portier, Franck - National Bureau of Economic Research - 2024

Macroeconomic dynamics are shaped by how individual incentives to spend and accumulate interact with the decisions of others. The goal of this paper is to identify--within a simple large-game-theoretic structure--which types of agent interactions favor which types of dynamic equilibrium...

Persistent link: https://www.econbiz.de/10014635624

Aggregate Productivity and the Productivity of Aggregates

Basu, Susanto - 1995

Explanations of procyclical productivity play a key role in a variety of business-cycle models. Most of these models, however, explain this procyclicality within a representative-firm paradigm. This procedure is misleading. We decompose aggregate productivity changes into several terms, each of...

Persistent link: https://www.econbiz.de/10012473485

Aggregate Efficiency with Heterogeneous Agents

Baqaee, David; Burstein, Ariel T. - National Bureau of Economic Research - 2025

We study aggregate efficiency when households have heterogeneous preferences and outcomes. We generalize the consumption-equivalent variation of Lucas (1987) to a multi-agent setting, asking: how much can the consumption-possibility set shrink while keeping every agent at least as well off as in...

Persistent link: https://www.econbiz.de/10015450931

Unanimous Rules in the Laboratory

Bouton, Laurent - 2016

We study the information aggregation properties of unanimous voting rules in the laboratory. In line with theoretical …

Persistent link: https://www.econbiz.de/10012456730

Aggregating Elasticities : Intensive and Extensive Margins of Female Labour Supply

Attanasio, Orazio - 2015

We estimate labour supply elasticities at the micro level and show what we can learn from possibly very heterogeneous elasticities for aggregate behaviour. We consider both intertemporal and intratemporal choices, and identify intensive and extensive responses in a consistent life-cycle...

Persistent link: https://www.econbiz.de/10012457352

Network Structure and the Aggregation of Information : Theory and Evidence from Indonesia

Alatas, Vivi - 2012

how network structure influences information aggregation. We develop a model of semi-Bayesian learning on networks, which …

Persistent link: https://www.econbiz.de/10012460309

Risks For the Long Run : Estimation with Time Aggregation

Bansal, Ravi - 2012

us to estimate models with recursive preferences, latent state variables, and time-aggregated data. Time-aggregation … makes the decision interval of the agent an important parameter to estimate. We find that time-aggregation can significantly … affect parameter estimates and statistical inference. Imposing the pricing restrictions and explicitly accounting for time-aggregation …

Persistent link: https://www.econbiz.de/10012460356

Labor-Market Heterogeneity, Aggregation, and the Lucas Critique

Chang, Yongsung - 2010

asset markets and indivisible labor supply. Imperfect aggregation manifests itself through preference shocks in the …

Persistent link: https://www.econbiz.de/10012462255

Consistent Trade Policy Aggregation

Anderson, James E. - 2008

Most empirical policy work requires the aggregation of policies. Trade policy aggregation exemplifies the aggregation … problem poignantly, with thousands of highly dispersed trade barriers. This paper provides methods of policy aggregation that …-country policy modeling. An application to India shows that the standard atheoretic method of aggregation overstates India's real …

Persistent link: https://www.econbiz.de/10012464601

The Social Multiplier

Glaeser, Edward L. - 2002

In many cases, aggregate data is used to make inferences about individual level behavior. If there are social interactions in which one person's actions influence his neighbor's incentives or information, then these inferences are inappropriate. The presence of positive social interactions, or...

Persistent link: https://www.econbiz.de/10012469557