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We use a user-cost model to study how dispersed information among housing marketparticipants a¤ects the equilibrium house price. In the model, agents are disparatelyinformed about local economic conditions, consume housing services, and speculate onprice changes. Information dispersion leads...
Persistent link: https://www.econbiz.de/10009522191
. The construction of the Eyam plague story offers an unusually clear case study in the social and intellectual dynamics of …
Persistent link: https://www.econbiz.de/10005870945
Government policies on disability – and criticism of them – rest in parton an understanding of the circumstances of disabled people informedby cross-sectional survey data, dividing the population into “thedisabled” and “the non-disabled”. While conceptual debates about thenature of...
Persistent link: https://www.econbiz.de/10008733217
) household income dynamics. This is largelybecause of the difficulties created by the fact that on top of the humancapital issues … proposesa framework for modelling household income dynamics. it emphasisesthe role of household formation and dissolution, and …, income and poverty dynamics.We illustrate this framework with an application to poverty rates amongyoung women in the US. We …
Persistent link: https://www.econbiz.de/10008756563
This paper studies a dynamic model of crises with timing frictions that combines the mainaspects of Morris and Shin (1998) and Frankel and Pauzner (2000). The usual arguments forexistence and uniqueness of equilibrium cannot be applied. It is shown that the model has aunique equilibrium within...
Persistent link: https://www.econbiz.de/10008911498
considerable success in explaining the dynamics of such decisions, with individualcharacteristics of firms, which include firm … fundamentals and lagged values of past decisions,exhibiting a strong explanatory impact. The dynamics implied by the estimated …
Persistent link: https://www.econbiz.de/10008911512
cuts in corporateor VAT rates. Second, using the methods of Favero and Giavazzi,2007 (FG) to incorporate debt dynamics into … a …fiscal VAR, we …findthat debt dynamics signi…ficantly alter estimates of the impact of …fiscalpolicy on GDP in some …
Persistent link: https://www.econbiz.de/10008939831
& Price [1973]. A TESS attracts nearby tra-jectories too, but the behavior of the dynamics nearby must be similarto the … behavior of the replicator dynamics near an ESS.[...] …
Persistent link: https://www.econbiz.de/10009022153
Using a ¯rm-level panel data set I assess whether dynamic models of in-vestment provide an empirically fruitful framework for analyzing tax e®ectson changes in capital stock. In particular I estimate a one-step error correc-tion model (ECM) complementing the usual estimation of a distributed...
Persistent link: https://www.econbiz.de/10009129478
-and-effect relationships into an integrated modelusing the system dynamics methodology. The application of the idea to capture knowledge in …
Persistent link: https://www.econbiz.de/10009138635