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Inflation expectations have been of great interest to economists because they predict how agents in an economy set prices and react to changes in various macroeconomic variables. The existence of Keynesian liquidity traps in Japan and the United States have helped emphasize the importance of...
Persistent link: https://www.econbiz.de/10009468735
Diese Arbeit besteht aus vier Essays, die empirische und methodische Beiträge zu den Gebieten der Finanzmarktökonomik und der Makroökonomik liefern. Der erste Essay beschäftigt sich mit der Spezifikation der Investoren verfügbaren Informationsmenge in Tests bedingter Kapitalmarktmodelle. Im...
Persistent link: https://www.econbiz.de/10009467089
subdiscipline has evolved. It considers some implications for today's awkward economic facts of aspects of Keynes' General Theory … on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the … that the questions about co-ordination that Keynes addressed, not to mention some of his answers, are well worth revisiting. …
Persistent link: https://www.econbiz.de/10009447272
This thesis investigates the consequences of model uncertainty and persistence in consumption habits and price-setting behaviour in a New Keynesian model.As the decision of a central bank is made in an uncertain environment, the analysis of uncertainty is essential in monetary policy models. In...
Persistent link: https://www.econbiz.de/10009449715
The basic machines of macroeconomics. Ramsey, Solow, Samuelson-Diamond, RBCs, ISLM, Mundell-Fleming, Fischer …
Persistent link: https://www.econbiz.de/10009433264
theory tries to explain how rational expectations could be the outcome of optimising behaviour. However, in the face of …
Persistent link: https://www.econbiz.de/10009454934
equilibrium theory of unemployment. The proposed quantitative model with ex-ante worker skill heterogeneity and two technology …
Persistent link: https://www.econbiz.de/10009438698
Dynamic factor models (DFM) and dynamic stochastic general equilibrium (DSGE) models are widely used for empirical research in macroeconomics. The empirical factor literature argues that the co-movement of large panels of macroeconomic and financial data can be captured by relatively few common...
Persistent link: https://www.econbiz.de/10009438699
I study the evolution of aggregate volatility in the US during the postwar period by assessing the relative role played by financial shocks, technological progress, and changes in the financial system. Balance-sheet variables of firms have been characterized by greater volatility since the early...
Persistent link: https://www.econbiz.de/10009438701
In Chapter 2, "Accounting for Cross-Country Differences in Intergenerational Earnings Persistence: The Impact of Taxation and Public Education Expenditure," I study the determinants of cross-country differences in intergenerational earnings persistence between fathers and sons. Western economies...
Persistent link: https://www.econbiz.de/10009438733