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Nachbar, John H. - 2003

Persistent link: https://www.econbiz.de/10010332225

Determinacy of equilibrium under various Phillips curves

Ono, Yoshiyasu - 2008

Determinacy of equilibrium under the original, the backward-looking, the forward-looking and the hybrid Phillips curves is examined. If the monetary authority keeps the nominal money stock to be constant, the equilibrium path is always determinate under the original Phillips curve and the...

Persistent link: https://www.econbiz.de/10010332226

Information and disclosure in strategic trade policy

Creane, Anthony; Miyagiwa, Kaz - 2007

disclose information to the governments in the Brander-Spencer setting. With quantity competition, we find firms disclosing … competition, however, firms have no incentives to disclose demand or cost information, so governments remain uninformed. Further …, with quantity competition and unknown demand, governments are caught in an informational prisoner's dilemma. …

Persistent link: https://www.econbiz.de/10010332231

Learning, liquidity preference, and business cycle

Horii, Ryo; Ono, Yoshiyasu - 2004

This paper examines a mechanism of liquidity-preference fluctuations caused by changes in people's belief about a random liquidity shock. When observing the shock, they rationally update their belief so that the shock probability is higher; consequently they raise liquidity preference and reduce...

Persistent link: https://www.econbiz.de/10010332232

Purchasing power parity and interest parity in the laboratory

Fisher, Eric O'N. - 2001

This paper analyzes purchasing power parity and uncovered interest parity in the laboratory. It finds strong evidence that purchasing power parity, covered interest parity, and uncovered interest parity hold. Subjects are endowed with an intrinsically useless (green) currency that can be used to...

Persistent link: https://www.econbiz.de/10010332233

Secure implementation in economies with indivisible objects and money

Fujinaka, Yuji; Wakayama, Takuma - 2007

This paper studies the application of the notion of secure implementation (Cason, Saijo, Sjöström, and Yamato, 2006; Saijo, Sjöström, and Yamato, 2007) to the problem of allocating indivisible objects with monetary transfers. We propose a new domain-richness condition, termed as minimal...

Persistent link: https://www.econbiz.de/10010332239

Public debt places no burden on future generations under demand shortage

Ogawa, Takayuki; Ono, Yoshiyasu - 2010

In a Diamond-type overlapping-generations setting public debt issuance places no burden on future generations including those who repay the debt if prices and wages are fixed and unemployment occurs in the periods in which public bonds are issued and repaid. Whether the collected fund is spent...

Persistent link: https://www.econbiz.de/10010332241

Conformism and structural change

Horiy, Takeo; Ikefuji, Masako; Mino, Kazuo - 2011

-specific consumption externalities can be a source of structural change. When the degrees of consumption externalities are different … that the degrees of consumption externalities are the same, structural change does not occur. We also show that the …

Persistent link: https://www.econbiz.de/10010332246

Comparing tests of autoregressive versus moving average errors in regression models using Bahadur's asymptotic relative efficiency

MacKenzie, C. R.; MacAleer, Michael - 2001

The purpose of this paper is to use Bahadur's asymptotic relative efficiency measure to compare the performance of various tests of autoregressive (AR) versus moving average (MA) error processes in regression models. Tests to be examined include non-nested procedures of the models against each...

Persistent link: https://www.econbiz.de/10010332248

Voluntary participation in the design of non-excludable public goods provision mechanisms

Saijo, Tatsuyoshi; Yamamoto, Takehiko - 2001

, economists have thought that the free-rider problem is solved, in theory. Our view to this problem is not so optimistic. Rather …

Persistent link: https://www.econbiz.de/10010332250