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Indeterminacy of rational expectations equilibria in sequential financial markets

Donati, Paola - 2003

We provide a general characterization of the structure of rational expectations equilibria of any degree of revelation for pure exchange, sequential economies, with deffinitely many states of private information, an incomplete financial market and nominal assets. We estimate the dimension of the...

Persistent link: https://www.econbiz.de/10009635915

International equity flows and returns

Albuquerque, Rui; Bauer, Gregory H.; Schneider, Martin - 2004

This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative model of trading that is built around two new assumptions: (i) both the foreign and domestic investor populations contain investors of different sophistication, and (ii) investor...

Persistent link: https://www.econbiz.de/10009636533

Further study on the affordability of alcoholic beverages in the EU ; A focus on excise duty pass-through, on- and off-trade sales, price promotions and pricing regulations LILA

Rabinovich, Lila (contributor); Hunt, Priscillia (contributor) - Directorate General for Health & Consumers; RAND Europe - 2012

Persistent link: https://www.econbiz.de/10009641224

The affordability of alcoholic beverages in the European Union ; Understanding the link between alcohol affordability, consumption and harms ; Technical report

Rabinovich, Lila (contributor); … - Directorate General for Health & Consumers; RAND Europe - 2009

Persistent link: https://www.econbiz.de/10009641225

Study on price transmission in the sugar sector

Maurizio Aragrande; Enrica Gentile; Mauro Bruni - Areté srl - 2012

assess the influence of the 2006 reform of the EU sugar regime on price transmission in the sugar sector. The investigations … to be carried out had to focus on the different types of transmission of price changes, studying the reasons for any … uneven or asymmetric price transmission between sugar producers and final consumers, and taking into account the intermediate …

Persistent link: https://www.econbiz.de/10011439219

Investors with too many options?

Dorn, Daniel - 2010

trades in call options on the German DAX index, this paper documents substantial price dispersion across securities that are …

Persistent link: https://www.econbiz.de/10009640343

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

Business cycle dynamics under rational inattention

Maćkowiak, Bartosz; Wiederholt, Mirko - 2011

We develop a dynamic stochastic general equilibrium model with rational inattention by households and firms. Consumption responds slowly to interest rate changes because households decide to pay little attention to the real interest rate. Prices respond quickly to some shocks and slowly to other...

Persistent link: https://www.econbiz.de/10009640770

Information acquisition and decision making in committees

Gerling, Kerstin; Grüner, Hans Peter; Kiel, Alexandra; … - 2003

This is a survey on the recent game theoretic literature on committee decision making. We consider theoretical work on the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv) communication in committees. Moreover, we review recent experimental...

Persistent link: https://www.econbiz.de/10009635876

Government deficits, wealth effects and the price level in an optimizing model

Annicchiarico, Barbara - 2003

. Simulation results show that government defcits, high debt level and slow fiscal adjustment adversely affect price stability in … policy affects the dynamics of the price level presents monetarist properties, since the price level is determined in the … monetary market. The effects produced by fiscal expansions on price dynamics are due to the behavior of consumers, facing a …

Persistent link: https://www.econbiz.de/10009635879