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In modeling expectation formation, economic agents are usually viewed as forming expectations adaptively or in accordance with some rationality postulate. We offer an alternative nonlinear model where agents exchange their opinions and information with each other. Such a model yields multiple...
Persistent link: https://www.econbiz.de/10009447863
bubbles, a bubble itself is not sufficient to cause real-side disruption. What central bankers should learn from Japan …
Persistent link: https://www.econbiz.de/10009472319
It has been widely assumed that there was a bubble in the U.S. housing market after1999.This paper analyzes the extent to which that was true. We define a bubble as: (1) a regime shift that is characterized by a change in the properties of deviations from the fundamentals of house price growth,...
Persistent link: https://www.econbiz.de/10009476926
University of Minnesota Ph.D. dissertation. August 2009. Major: Economics. Advisor: Narayana Kocherlakota. 1 computer file (PDF); iv, 65 pages, appendices A-B.
Persistent link: https://www.econbiz.de/10009462812
Incluye bibliografía ; Este documento estudia la dinámica de los precios de las acciones en un modelo tipo «árbol de Lucas» en el que los inversores tienen vidas finitas y aprenden de su propia experiencia. Los individuos actualizan sus expectativas mediante aprendizaje bayesiano basado en...
Persistent link: https://www.econbiz.de/10012530357
acceptance of CDM. The outgrowth of CDM from a proposal from Brazil to establish a Clean Development Fund gave developing …
Persistent link: https://www.econbiz.de/10009435560
electrical energy and peak demand in India and Brazil. Using very conservative assumptions, we find that the cost of conserved … of avoided peak installed capacity is 6 and 9.5 times less than the cost of new installed capacity for India and Brazil … national savings of the order of US $1.2 million per day for India and US $2.5 million per day for Brazil are reached in 10 …
Persistent link: https://www.econbiz.de/10009436308
Over the years, the East-West Center (EWC) has developed considerable expertise in refinery modeling, especially in the area of forecasting product balances for countries, given planned capacity changes, changes in product demand, changes in crude slates, and changes in product specifications....
Persistent link: https://www.econbiz.de/10009436759
This paper summarizes studies of carbon (C) mitigation potential and costs of about 40 forestry options in seven developing countries. Each study uses the same methodological approach - Comprehensive Mitigation Assessment Process (COMAP) - to estimate the above parameters between 2000 and 2030....
Persistent link: https://www.econbiz.de/10009437412