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Learning and equilibrium selection in a monetary overlapping generations model with sticky prices
Adam, Klaus - 2003
We study adaptive learning in a monetary overlapping generations model with sticky prices and monopolistic competition for the case where learning agents observe current endogenous variables. Observability of current variables is essential for informational consistency of the learning setup with...
Persistent link: https://www.econbiz.de/10009765346
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Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices
Adam, Klaus - 2008
We study adaptive learning in a monetary overlapping generations model with sticky prices and monopolistic competition for the case where learning agents observe current endogenous variables. Observability of current variables is essential for informational consistency of the learning setup with...
Persistent link: https://www.econbiz.de/10012774525
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Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices
Adam, Klaus - 2003
We study adaptive learning in a monetary overlapping generations model with sticky prices and monopolistic competition for the case where learning agents observe current endogenous variables. Observability of current variables is essential for informational consistency of the learning setup with...
Persistent link: https://www.econbiz.de/10014124808
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Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
Adam, Klaus; Zhu, Junyi - 2014
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector … Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH sector: relatively young … middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result, wealth inequality for the …
Persistent link: https://www.econbiz.de/10010378324
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Price level changes and the redistribution of nominal wealth across the Euro Area
Adam, Klaus; Zhu, Junyi - 2014
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector …, while HHs in Finland and Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH … sector: relatively young middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result …
Persistent link: https://www.econbiz.de/10011490481
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Price level changes and the redistribution of nominal wealth across the Euro Area
Adam, Klaus; Zhu, Junyi - 2014 - Preprint
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector … Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH sector: relatively young … middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result, wealth inequality for the …
Persistent link: https://www.econbiz.de/10010385858
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Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
Adam, Klaus; Zhu, Junyi - Abteilung für Volkswirtschaftslehre, Universität Mannheim - 2014
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector …, while HHs in Finland and Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH … sector: relatively young middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result …
Persistent link: https://www.econbiz.de/10010791288
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Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
Adam, Klaus; Zhu, Junyi - C.E.P.R. Discussion Papers - 2014
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector …, while HHs in Finland and Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH … sector: relatively young middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result …
Persistent link: https://www.econbiz.de/10011084690
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Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
Adam, Klaus; Zhu, Junyi - Deutsche Zentralbibliothek für … - 2014
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector … Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH sector: relatively young … middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result, wealth inequality for the …
Persistent link: https://www.econbiz.de/10010957825
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Are stationary hyperinflation paths learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Center for Financial Studies - 2003
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10010958763