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any order can be reduced to solving a system of quadratic equations. We propose using the theory of Grobner bases in …
Persistent link: https://www.econbiz.de/10010397689
Much of the macroeconomics literature dealing with wealth distribution has become abstracted from modeling housing explicitly. This paper investigates the properties of the wealth distribution and the portfolio composition regarding housing and equity holdings and their relationship to...
Persistent link: https://www.econbiz.de/10010397707
of these techniques does not respect the agnosticism of the theory. These algorithms impose additional sign restrictions … agnosticism of the theory. Without the additional restrictions, it is hard to support the claim that either optimism shocks are an …
Persistent link: https://www.econbiz.de/10010397712
Financial stability is an important policy objective since crises are associated with big economic, social, and political costs. Promoting stability requires preventing 'sudden stops' in capital flows, which are events in which foreign financing abruptly disappears. This paper contributes to the...
Persistent link: https://www.econbiz.de/10010397715
We propose a numerical method, based on indirect inference, for checking the identification of a DSGE model. Monte Carlo samples are generated from the model's true structural parameters and a VAR approximation to the reduced form estimated for each sample. We then search for a different set of...
Persistent link: https://www.econbiz.de/10010397720
This paper proposes a new semi-nonparametric maximum likelihood estimation method for estimating production functions. The method extends the literature on structural estimation of production functions, started by the seminal work of Olley and Pakes (1996), by relaxing the scalar-unobservable...
Persistent link: https://www.econbiz.de/10010397791
This paper moves toward the formulation of a normative theory of taxation that incorporates collective choice as an … essential element. Such a theory has many interesting parallels to optimal taxation, including large information requirements …In diesem Papier wird versucht, eine normative Theorie der Besteuerung auf der Theorie der kollektiven Entscheidung …
Persistent link: https://www.econbiz.de/10010397881
This paper addresses the question why a lot of firms demand stricter environmental regulation. With non-identical producers within the same industry, lobbying for tighter environmental rules turns out to be an important strategy of raising rivals' costs. Furthermore, the paper explains when the...
Persistent link: https://www.econbiz.de/10010397882
In diesem Aufsatz wird die nichtparametrische Autoregression auf die Prognose von Quantilen angewendet. Verfahren der Kernregression werden benutzt, um zu autoregressiven Quantiisschätzern zu gelangen. Da die üblichen Maße zur Beurteilung der Prognose, wie etwa der mittlere quadratische...
Persistent link: https://www.econbiz.de/10010397885
basic concepts of mathematical complexity theory; (2) show that the problem of Optimal Aggregation is of high computational …
Persistent link: https://www.econbiz.de/10010397886