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Saving and learning: Theory and evidence from saving for child's college

Zhu, Junyi - Deutsche Bundesbank - 2012

This paper analyzes the main uncertainty of college saving - the child's ability - in the context of the saving with learning model. The first section develops a dynamic model combining asset accumulation and learning to explain the parents' forward-looking saving behavior when they are...

Persistent link: https://www.econbiz.de/10010957083

Prices, Information and Learning

Shevchenko, Andrei; Araujo, Luis - Society for Economic Dynamics - SED - 2004

We consider an economy where trade is decentralized and agents have incomplete information with respect to the value of money. Agents' learning evolves from private experiences and we explore how the formation of prices interacts with learning. We show that multiple equilibria arise, and...

Persistent link: https://www.econbiz.de/10005051429

Dynamics of information exchange in endogenous social networks

Bimpikis, Kostas; Ozdaglar, Asuman; Acemoglu, Daron - In: Theoretical Economics 9 (2014) 1

We develop a model of information exchange through communication and investigate its implications for information aggregation in large societies. An \textit{underlying state} determines payoffs from different actions. Agents decide which others to form a costly \textit{communication link} with,...

Persistent link: https://www.econbiz.de/10010738405

Heterogeneity and Learning in Labor Markets

Woodcock, Simon D. - EconWPA - 2005

first half of the paper, I present an equilibrium matching model where heterogeneous workers and firms learn about match … yields an assortative matching result that predicts a negative correlation between estimated person and firm effects, which … matching model implies a specific structure for the error covariance. I exploit this structure to test whether earnings …

Persistent link: https://www.econbiz.de/10005125778

Don’t Give Up On Me Baby: Spousal Correlation in Smoking Behaviour

Clark, Andrew E.; Etilé, Fabrice - Institute for the Study of Labor (IZA) - 2005

matching or information revealed by others' behaviours, or to endogenous effects generated by bargaining within marriage. A … in individual effects. As such the correlation in the raw smoking data is consistent with positive assortative matching …

Persistent link: https://www.econbiz.de/10005700850

Permanent and transitory policy shocks in an empirical macro model with asymmetric information

Kozicki, Sharon; Tinsley, P. A. - Center for Financial Studies - 2003

Despite a large literature documenting that the efficacy of monetary policy depends on how inflation expectations are anchored, many monetary policy models assume: (1) the inflation target of monetary policy is constant; and, (2) the inflation target is known by all economic agents. This paper...

Persistent link: https://www.econbiz.de/10010986417

Monetary policy, indeterminacy and learning

Evans, George W.; McGough, Bruce - Center for Financial Studies - 2003

The development of tractable forward looking models of monetary policy has lead to an explosion of research on the implications of adopting Taylor-type interest rate rules. Indeterminacies have been found to arise for some specifications of the interest rate rule, raising the possibility of...

Persistent link: https://www.econbiz.de/10010986495

Abbink, Klaus; Brandts, Jordi - Barcelona Graduate School of Economics (Barcelona GSE)

Bertrand competition under decreasing returns involves a wide interval of pure strategy equilibrium prices. We first present results of experiments in which two, three and four identical firms repeatedly interact in this environment. Less collusion with more firms leads to lower average prices....

Persistent link: https://www.econbiz.de/10010851468

On the role of public price information in housing markets

Eerola, Essi; Lyytikäinen, Teemu - Valtion taloudellinen tutkimuskeskus (VATT), Government … - 2012

This paper studies the impact of increased price information on the functioning of the housing market. We first study …, a website with detailed information about individual housing transactions was opened. The website covered only part of …

Persistent link: https://www.econbiz.de/10010852169

Social Learning about Consumption

Seppecher, Pascal; Salle, Isabelle - Groupe de REcherche en Droit, Économie, Gestion … - 2013

This paper applies a social learning model to the optimal consumption rule of Allen & Carroll (2001), and delivers convincing convergence dynamics towards the optimal rule. These findings constitute a significant improvement regarding previous results in the literature, both in terms of speed of...

Persistent link: https://www.econbiz.de/10010860427

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