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For option whose striking price equals the forward price of the underlying asset, the Black-Scholes pricing formula can be approximated in closed-form. A interesting result is that the derived equation is not only very simple in structure but also that it can be immediately inverted to obtain an...
Persistent link: https://www.econbiz.de/10005077015
Calvo (1983) wage and price contracts may deliver welfare costs that are 3-4 times higher than Taylor (1980) contracts …
Persistent link: https://www.econbiz.de/10005083084
Panel presentation at the Federal Reserve Bank of Dallas Conference: "John Taylor’s Contributions to Monetary Theory …
Persistent link: https://www.econbiz.de/10005352136
We estimate and compare two models, the Generalized Taylor Economy (GTE) and the Multiple Calvo model (MC); that have …
Persistent link: https://www.econbiz.de/10009327804
Frederick Winslow Taylor’s oeuvre: an analysis of wages This paper analyses and explains Frederick Winslow Taylor … influenced his literary works. The second part analyses F. W. Taylor’s two main books in which the author’s perspective about … wages is discussed. The paper concludes with a critical view of F. W. Taylor’s view on wages. …
Persistent link: https://www.econbiz.de/10009393266
The Generalized Calvo and the Generalized Taylor models of price and wage-setting are, unlike the standard Calvo and … Taylor counterparts, exactly consistent with the distribution of durations observed in the data. Using price and wage micro … monetary policy transmission by embedding these calibrated models in a standard DSGE model. The Generalized Taylor model is …
Persistent link: https://www.econbiz.de/10009359845
No abstract.
Persistent link: https://www.econbiz.de/10010611589
Panel presentation at the Federal Reserve Bank of Dallas Conference: "John Taylor’s Contributions to Monetary Theory …
Persistent link: https://www.econbiz.de/10010724772