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The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a … basis points between the best and worst-performers across the sample. This heterogeneity is found to be related to both the … anticipating monetary policy. Moreover, systematic forecaster heterogeneity is economically important as it leads to greater …
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particular, we test whether decision makers in multi-stage tournaments take heterogeneity induced changes of continuation values …
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particular, we test whether decision makers in multi-stage tournaments take heterogeneity induced changes of continuation values …
Persistent link: https://www.econbiz.de/10011379488
, population growth and size heterogeneity. Neighbourhood-related supply factors are only weakly significant. Cooperation is more …
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We develop an equilibrium model of on-the-job search with ex-ante heterogeneous workers and firms, aggregate uncertainty and vacancy creation. The model produces rich dynamics in which the distributions of unemployed workers, vacancies and worker-firm matches evolve stochastically over time. We...
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