Narrow search
Showing 1 - 10 of 377
Cover Image
Is There an Inflation Puzzle?
Lown, Cara S.; Rich, Robert W. - Federal Reserve Bank <New York, NY>; London School of … - 1997
[...]This article explores the inflation puzzle andinvestigates whether compensation has acted as either atemporary restraint on inflation or as the underlying sourceof a new inflation regime.2 After reviewing the recent behavior of inflation, we specify and estimate a traditionalprice-inflation...
Persistent link: https://www.econbiz.de/10005870223
Cover Image
Public and Private Expenditures on Health in a GrowthModel
Bhattacharya, Joydeep; Qiao, Xue - Iowa State University of Science and Technology <Ames, … - 2005
This paper introduces endogenous longevity risk in an otherwisestandard overlapping generations model with capital. In the model, an agent mayincrease the length of her old age by incurring investments in her own health fundedfrom her wage income. Such private health investments are more...
Persistent link: https://www.econbiz.de/10009360886
Cover Image
What do Information Frictions do?
Bhattacharya, Joydeep; Chakraborty, Shankha - Iowa State University of Science and Technology <Ames, … - 2003
Researchers have incorporated labor or credit market frictions in isolation within simple neoclassical models to open up a role for institutions, inject realism into their models and examine the impact of these distortions on output and employment. We present an overlapping generations model...
Persistent link: https://www.econbiz.de/10009418938
Cover Image
Are SMEs large firms en miniature? Evidence from a growth analysis
Bannier, Christina E.; Metz, Sabrina - Frankfurt School of Finance & Management - 2010
Based on German data between 1999 and 2007, we analyze the growth factors of SMEs andcontrast them with those of large firms. Differences show up both in balance sheet and employmentgrowth. While we conrm earlier results on inherent growth structures and the inuence of firm age,we derive several...
Persistent link: https://www.econbiz.de/10008695284
Cover Image
Steady-State Growth and the Elasticity of Substitution
Irmen, Andreas - Alfred-Weber-Institut für Sozial- und … - 2010
In a neoclassical economy with endogenous capital- and labor-augmentingtechnical change the steady-state growth rate of output per worker is shown to increasein the elasticity of substitution between capital and labor. This conrms theassessment of Klump and de La Grandville (2000) that the...
Persistent link: https://www.econbiz.de/10009249010
Cover Image
A Representative Consumer Theory of Distribution
Caselli, Francesco; Ventura, Jaume - London School of Economics and Political Science - 2000
This paper introduces various sources of consumer heterogeneity in one-sector representative consumer (RC) growth models and develops tools to study the evolution of the distribution of consumptions, assets and incomes.[...]
Persistent link: https://www.econbiz.de/10009305094
Cover Image
Consumption Paths under Prospect Utility in an Optimal Growth Model
Rosenblatt-Wisch, Rina; Schenk-Hoppé, Klaus Reiner - Finrisk - 2005
This paper studies the Cass-Koopmans-Ramsey model of optimal economic growth with a representative agent whose preferences for consumption can be gradually varied between the standard CES case and Kahneman and Tversky's prospect utility. The numerical analysis of a specific parametrization shows...
Persistent link: https://www.econbiz.de/10005858780
Cover Image
Loss Aversion in Aggregate Macroeconomic Time Series
Rosenblatt-Wisch, Rina - Institut für Schweizerisches Bankwesen <Zürich> - 2005
Prospect theory has found an increasing attention in many fields of economics. However, it has scarcely been addressed … in a macroeconomic growth model. In an earlier paper we introduced prospect theory into a stochastic growth model. This … paper focuses on linking the Euler equation induced by such a prospect theory growth model to real macroeconomic data. We …
Persistent link: https://www.econbiz.de/10005858781
Cover Image
The von Neumann-Gale growth model and its Stochastic generalization
Evstigneev, Igor V.; Schenk-Hoppé, Klaus Reiner - Institut für Schweizerisches Bankwesen <Zürich> - 2006
Economics that served as thebasis for a rich and interesting theory. This theory was developed for the mostpart in the 1950s and …, Rockafellar,Nikaido, Morishima and others (see, e.g., the monograph by Nikaido [47] andreferences therein). The theory of the von …
Persistent link: https://www.econbiz.de/10005858887
Cover Image
How Far Are We From The Slippery Slope? The Laffer Curve Revisited
Trabandt, Mathias; Uhlig, Harald - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2006
The goal of this paper is to examine the shape of the Laffer curve quantitativelyin a simple neoclassical growth model calibrated to the US as well as to the EU-15 economy. We show that the US and the EU-15 area are located on the left side of their labor and capital tax Laffer curves, but the...
Persistent link: https://www.econbiz.de/10005861836