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Exchange rate management when sterilized interventions represent signals of monetary policy
Reeves, Silke Fabian - In: International review of economics & finance : IREF 6 (1997) 4, pp. 339-360
Persistent link: https://www.econbiz.de/10001235527
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DSGE Nash : Solving Nash Games in Macro Models with an application to optimal monetary policy under monopolistic commodity pricing
Ferrari, Massimo Minesso; Pagliari, Maria Sole - 2022
This paper presents DSGE Nash, a toolkit to solve for pure strategy Nash equilibria of global games in general equilibrium macroeconomic models. Although primarily designed to solve for Nash equilibria in DSGE models, the toolkit encompasses a broad range of options including solutions up to the...
Persistent link: https://www.econbiz.de/10014076795
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DSGE Nash : solving Nash games in macro models
Ferrari, Massimo Minesso; Pagliari, Maria Sole - 2022
This paper presents DSGE Nash, a toolkit to solve for pure strategy Nash equilibria of global games in macro models. Although primarily designed to solve for Nash equilibria in DSGE models, the toolkit encompasses a broad range of options including solutions up to the third order, multiple...
Persistent link: https://www.econbiz.de/10013277145
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Behavioral and experimental macroeconomics and policy analysis : a complex systems approach
Hommes, Cars H. - 2018
may or may not coordinate on the rational equilibrium outcome. A general finding is that under positive expectations … feedback (strategic complementarity) - where optimistic (pessimistic) expectations can cause a boom (bust) - coordination … by coordination on trend-following behavior leading to (almost-)self-fulfilling equilibria. Heterogeneous expectations …
Persistent link: https://www.econbiz.de/10011929804
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Adverse selection, heterogeneous beliefs, and evolutionary learning
Buchen, Clemens; Palermo, Alberto - 2021
We relax the common assumption of homogeneous beliefs in principal-agent relationships with adverse selection. Principals are competitors in the product market and write contracts also on the base of an expected aggregate. The model is a version of a cobweb model. In an evolutionary learning...
Persistent link: https://www.econbiz.de/10012607986
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Central bank reputation, cheap talk and transparency as substitutes for commitment : experimental evidence
Duffy, John; Heinemann, Frank - 2016 - This Draft: 2 December 2016
flexibility and credibility. …
Persistent link: https://www.econbiz.de/10011572114
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Policy announcement design
Cieślak, Anna; Malamud, Semyon; Schrimpf, Andreas - 2020 - This version: December 15, 2019
more precise when the policymaker's beliefs conform with prior public expectations, whereas it is more vague in the case of …
Persistent link: https://www.econbiz.de/10012181571
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On expectations and the monetary stakes in ultimatum games
Hoffman, Elizabeth; McCabe, Kevin A.; Smith, Vernon L. - In: Bargaining and market behavior : essays in experimental …, (pp. 139-151). 2002
Persistent link: https://www.econbiz.de/10001734357
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Expectational stability in aggregative games
Cornes, Richard; Fiorini, Luciana C.; Maldonado, … - In: Journal of evolutionary economics 31 (2021) 1, pp. 235-249
Persistent link: https://www.econbiz.de/10012489827
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Taking a shower in youth hostels : risks and delights of heterogeneity
Matzke, Christina (contributor); Challet, Damien (contributor) - 2008
Tuning one's shower in some hotels may turn into a challenging coordination game with imperfect information. The temperature sensitivity increases with the number of agents, making the problem possibly unlearnable. Because there is in practice a finite number of possible tap positions, identical...
Persistent link: https://www.econbiz.de/10003612880