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In this paper the authors report the results of the estimation of a rich dynamic stochastic general equilibrium (DSGE) model of the U.S. economy with both stochastic volatility and parameter drifting in the Taylor rule. They use the results of this estimation to examine the recent monetary...
Persistent link: https://www.econbiz.de/10009475410
general questions concerning the regional and global waxing and waning of domestic regime types. Evolution's claims about the … co-evolution and niche construction are crucial: an agent may modify its environment such that one or more traits of that … agent enjoy a greater reproductive advantage. Agency, then, may be not an escape from evolution but a participation in co-evolution …
Persistent link: https://www.econbiz.de/10011596791
general questions concerning the regional and global waxing and waning of domestic regime types. Evolution's claims about the … co-evolution and niche construction are crucial: an agent may modify its environment such that one or more traits of that … agent enjoy a greater reproductive advantage. Agency, then, may be not an escape from evolution but a participation in co-evolution …
Persistent link: https://www.econbiz.de/10011590640
We demonstrate how altruism can flourish in a population of nonaltruists. We assume that each individual plays a one-shot prisoner's dilemma game with his or her sibling and that the probability than an individual survives to reproduce is proportional to his or her payoff in this game. We model...
Persistent link: https://www.econbiz.de/10010291763
are two--boxers. Given predictability, evolution favors the Backtracking Principle. An explicit causal analysis proves …-Schachtel-Lösung". Wenn es Vorhersagefähigkeit gibt, dann wird die Evolution das Backtracking-Prinzip bevorzugen. Eine ausdrückliche kausale …
Persistent link: https://www.econbiz.de/10010296958
evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on …
Persistent link: https://www.econbiz.de/10010305437
This paper analyses the recent evolution of Romanian modern agricultural cooperatives. The purpose is to present a …
Persistent link: https://www.econbiz.de/10011288311
, learning and evolution. Finally, contemporary critics are presented. They suggest that the arguments of complex systems do not …
Persistent link: https://www.econbiz.de/10011372139
, learning and evolution. Finally, contemporary critics are presented. They suggest that the arguments of complex systems do not …
Persistent link: https://www.econbiz.de/10011372350
situations. He discusses models drawn from the modern literature on cultural evolution in which imitation of others is the basic … strategy, and suggests a heuristic way of classifying situations in which the different models are relevant. The key point is … that in situations where radical uncertainty is present, we require theoretical "null" models of agent behaviour which are …
Persistent link: https://www.econbiz.de/10011387740