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Econometric models, in the estimation of real estate prices, are a useful and realistic approach for buyers and for local and fiscal authorities. From the classical hedonic models to more data driven procedures, based on Artificial Neural Networks (ANN), many papers have appeared in economic...
Persistent link: https://www.econbiz.de/10009776538
We study firms' incentives to acquire costly information in booms and recessions to understand the role of endogenous information in explaining asymmetric business cycles. When the economy has been in a boom in the previous period, and firms enter the current period with an optimistic belief,...
Persistent link: https://www.econbiz.de/10010281437
Persistent link: https://www.econbiz.de/10000976134
In this paper we study the role of fiscal policy in a macroeconomic model with imperfect competition in the product market. We find that fiscal spending per se and a less competitive industry reduce the responsiveness of income to productivity shocks. The government should follow a...
Persistent link: https://www.econbiz.de/10014224132
This paper investigates the behaviour of the mark-up of prices over marginal costs under two different assumptions about market structure. In the customer market model firms lower their mark-up when current output is low relative to future profits, foregoing current profits in order to capture...
Persistent link: https://www.econbiz.de/10014156098
This paper proposes an approximate solution of firm's optimal inattentive length in a standard macroeconomic model. The approximate solution conceptually fits a sticky-information model better, and predicts empirically more plausible inattentive length than the one proposed by Reis (2006)
Persistent link: https://www.econbiz.de/10013055349
There is growing evidence of producer-level idiosyncratic shocks affecting macroeconomic aggregates as they are propagated and amplified by input-output linkages, which are also known as the production network. Most of the recent models assume that this shock-propagation is instantaneous,...
Persistent link: https://www.econbiz.de/10014345230
Credit gaps are good predictors for financial crises, and banking regulators recommend using them to inform countercyclical capital buffers for banks. Researchers typically create credit gap measures using trend-cycle decomposition methods, which require many modelling choices, such as the...
Persistent link: https://www.econbiz.de/10013231943
We study firms' incentives to acquire costly information in booms and recessions to understand the role of endogenous information in explaining asymmetric business cycles. When the economy has been in a boom in the previous period, and firms enter the current period with an optimistic belief,...
Persistent link: https://www.econbiz.de/10009501052
This paper provides new evidence for the empirical literature that investigates the presence of political cycles in fiscal policy and, more precisely, public investments in Brazil. The approach differs from most of the studies for applying the state-space modeling. The greatest benefit is to...
Persistent link: https://www.econbiz.de/10010406330