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On the macroeconomic implications of firm dynamics, banking, and reputation
Totzek, Alexander - 2011
Since the publication of Keynes' "General Theory of Employment, Interest, and Money" in 1936 many new ideas and …
Persistent link: https://www.econbiz.de/10008907265
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Fiscal multipliers under an interest rate peg of deterministic vs. stochastic duration
Carlstrom, Charles T.; Fuerst, Timothy S.; Paustian, … - 2012
Persistent link: https://www.econbiz.de/10009688252
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Empirical and multiplier bootstraps for suprema of empirical processes of increasing complexity, and related Gaussian couplings
Chernozhukov, Victor; Chetverikov, Denis; Kato, Kengo - 2016
We derive strong approximations to the supremum of the non-centered empirical process indexed by a possibly unbounded VC-type class of functions by the suprema of the Gaussian and bootstrap processes. The bounds of these approximations are non-asymptotic, which allows us to work with classes of...
Persistent link: https://www.econbiz.de/10011524717
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Fiscal multipliers under an interest rate peg of deterministic versus stochastic duration
Carlstrom, Charles T.; Fuerst, Timothy S.; Paustian, … - In: Journal of money, credit and banking : JMCB 46 (2014) 6, pp. 1293-1312
Persistent link: https://www.econbiz.de/10010466573
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A convex stochastic optimization problem arising from portfolio selection
Jin, Hanqing; Xu, Zuo Quan; Zhou, Xun Yu - In: Mathematical finance : an international journal of … 18 (2008) 1, pp. 171-183
Persistent link: https://www.econbiz.de/10003643506
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A nonlinear moving average test as a robust test for ARCH
Tolvi, Jussi - 1999
Persistent link: https://www.econbiz.de/10001434266
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Fiscal Multipliers Under an Interest Rate Peg of Deterministic vs. Stochastic Duration
Carlstrom, Charles T. - 2012
This paper revisits the size of the fiscal multiplier. The experiment is a fiscal expansion under the assumption of a … multiplier can be unboundedly large. However, if the monetary-fiscal expansion is for a fixed T periods, the multiplier is much …
Persistent link: https://www.econbiz.de/10013104783
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Policy Multipliers Under an Interest Rate Peg of Deterministic Versus Stochastic Duration
Carlstrom, Charles T. - 2013
This paper revisits the size of the fiscal multiplier. The experiment is a fiscal expansion under the assumption of a … periods, the fiscal multiplier can be unboundedly large. However, if the monetary-fiscal expansion is for fixed T periods, the … multiplier is much smaller. Our explanation rests on a Jensen's inequality-type argument: the deterministic multiplier is convex …
Persistent link: https://www.econbiz.de/10013080493
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Fiscal multipliers under an interest rate peg of deterministic vs. stochastic duration
Carlstrom, Charles T.; Fuerst, Timothy S.; Paustian, … - 2012
Persistent link: https://www.econbiz.de/10010218740
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Taxes Versus Quotas for a Stock Pollutant
Hoel, Michael; Karp, Larry S. - 1998
We compare the effects of taxes and quotas for an environmental problem in which the regulator and polluter have asymmetric information about abatement costs, and the environmental damage depends on the stock of pollution. We thus extend to a dynamic framework previous studies in which...
Persistent link: https://www.econbiz.de/10014213747