Implied probability density functions (PDFs) estimated from cross-sections of observed options prices are gaining … prices by no more than a half tick provide a lower bound on the confidence intervals of the summary statistics derived from …

the discount rate function directly to bond prices. ; The tests demonstrate the dangers of in-sample goodness-of-fit as … detect misspecification of the underlying pricing equation relating the term structure to bond prices. These tests establish … the presence of unspecified, but nonetheless systematic, omitted factors in the prices of long maturity notes and bonds …

applied on the institution of money, analyzing its emergence as a cognitive novelty that activates universal neuronal …

-following actions. Signs, in turn, are outcomes of population-level interactions. I apply this framework on the case of money, analysing … the emotions that go along with the use of money, and presenting a stylized account of the emergence of money in terms of … the naturalized Searle-Aoki model. In this view, money is a neuronally anchored sign for emotions relating with social …

Abstract This paper integrates a money and credit market into a static approximation of the baseline New Keynesian … model based on a money-and-credit-in-the-utility approach, in which real balances and borrowing contribute to the household …