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Firms' investment decisions in response to demand and price uncertainty
Fuss, Catherine; Vermeulen, Philip - 2004
We estimate the effect of demand and price uncertainty on firms’ investment decisions from a panel of manufacturing firms. Uncertainty measures are derived from firms’ subjective qualitative expectations. They are close to their theoretical counterparts, the variances of future demand and...
Persistent link: https://www.econbiz.de/10009639401
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Distributional dynamics under smoothly state-dependent pricing
Costain, James; Nakov, Anton - 2011
Starting from the assumption that firms are more likely to adjust their prices when doing so is more valuable, this paper analyzes monetary policy shocks in a DSGE model with firm-level heterogeneity. The model is calibrated to retail price microdata, and inflation responses are decomposed into...
Persistent link: https://www.econbiz.de/10009640772
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Investors with too many options?
Dorn, Daniel - 2010
During the last decade, markets for covered warrants (bank-issued options) have flourished in Europe and Asia. In these markets, investors often face a choice between many instruments that differ only slightly from each other. Based on retail trades in call options on the German DAX index, this...
Persistent link: https://www.econbiz.de/10009640343
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The ECB's New Multi-Country Model for the euro area
Dieppe, Alistair; González Pandiella, Alberto; Hall, … - 2011
Rational expectations has been the dominant way to model expectations, but the literature has quickly moved to a more realistic assumption of boundedly rational learning where agents are assumed to use only a limited set of information to form their expectations. A standard assumption is that...
Persistent link: https://www.econbiz.de/10009640692
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Business cycle dynamics under rational inattention
Maćkowiak, Bartosz; Wiederholt, Mirko - 2011
decision-makers in households and firms …
Persistent link: https://www.econbiz.de/10009640770
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Evaluation of the European Report on Development Initiative (2009 – 2013) : Final report ; The European Union's Devpol Programme
Lorenzoni, Marco; del Carmen Bueno Barriga, María - 2014
Persistent link: https://www.econbiz.de/10011625000
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Evaluation of the European Report on Development initiative : Mapping report of initiatives comparable to ERD ; The European Union's Devpol Programme
Lorenzoni, Marco; Kaufmann, Marie - 2014
Persistent link: https://www.econbiz.de/10011625001
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Information acquisition and decision making in committees
Gerling, Kerstin; Grüner, Hans Peter; Kiel, Alexandra; … - 2003
, composition, and decision rules of committees. We discuss implications for the design of monetary policy committees. …This is a survey on the recent game theoretic literature on committee decision making. We consider theoretical work on … in committees. Moreover, we review recent experimental evidence on these issues. Our analysis focuses on the optimal size …
Persistent link: https://www.econbiz.de/10009635876
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Government deficits, wealth effects and the price level in an optimizing model
Annicchiarico, Barbara - 2003
This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...
Persistent link: https://www.econbiz.de/10009635879