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Adaptive Economizing, Technological Change, and the Demand for Labor in Disequilibrium

Day, Richard H.; Hanson, Kenneth A. - 1985

using a dynamic, disaggregate economic model based upon principles of bounded rationality and markets in disequilibrium. The …

Persistent link: https://www.econbiz.de/10010335025

Disequilibrium as the origin, originality, and ambivalences of Clower's microfoundations of monetary theory

Plassard, Romain - 2016

for disequilibrium microfoundations to Keynesian macroeconomics. Third, Clower's (1967) project was to formulate a … disequilibrium monetary theory. Fourth, such a project failed because of Clower's (1965) approach to disequilibrium economics. …

Persistent link: https://www.econbiz.de/10011613806

Macroeconomic Perspectives on Inflation and Unemployment

Nitzan, Jonathan - 1990

The present paper is the first in a series of three essays in which we examine the macroeconomic and structural approaches to inflation. In this paper we explore some of the key contributions to the macroeconomic literature which appeared since the late 1950s. Much of this literature evolved in...

Persistent link: https://www.econbiz.de/10011645019

Inflation As Restructuring. A Theoretical and Empirical Account of the U.S. Experience

Nitzan, Jonathan - 1992

The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of analysis, we argue that inflation could be understood only in terms of ongoing structural and...

Persistent link: https://www.econbiz.de/10011646704

Market collusion and regime analysis in the US gasoline market

Tabaghdehi, Seyedeh Asieh H. - In: Journal of Economic Structures 7 (2018) 9, pp. 1-14

This article is concerned with disequilibrium regime switching model to capture different regimes in the US gasoline …

Persistent link: https://www.econbiz.de/10011991443

Risk culture during the last 2000 years: From an Aleatory Society to the illusion of risk control

Milkau, Udo - In: International Journal of Financial Studies 5 (2017) 4, pp. 1-20

The culture of risk is 2000 years old, although the term 'risk' developed much later. The culture of merchants making decisions under uncertainty and taking the individual responsibility for the uncertain future started with the Roman 'Aleatory Society', continued with medieval sea merchants,...

Persistent link: https://www.econbiz.de/10011996064

Improving Estimation of Labor Market Disequilibrium Using Shortage Indicators, with an Application to the Market for Anesthesiologists

Baird, Matthew; Daugherty, Lindsay; Kumar, Krishna B. - 2019

are likely in disequilibrium. We develop a new methodology to improve the estimation of a reduced form disequilibrium …-indicator informed disequilibrium model includes as a special case the foundational model of Maddala and Nelson (1974). We demonstrate … market for anesthesiologists, a profession susceptible to disequilibrium. In this application, we find that our new …

Persistent link: https://www.econbiz.de/10012005830

Aggregation when Markets do not Clear

Andreassen, Leif - 1995

, it is possible to identify most of the micro structure of an economy in disequilibrium from observed aggregate variables …. The paper discusses different possible indicators of disequilibrium in the labor market and presents some illustrative …

Persistent link: https://www.econbiz.de/10011967911

Rationing & Bayesian expectations with application to the labour market

Förster, Hannah - 2006

contains a variety of rationing methods to be ap- plied to micro-economic disequilibrium models of the lagom model family. This …

Persistent link: https://www.econbiz.de/10009449065

Auction prices and asset allocations of the electronic equity trading system Xetra

Li, Xihao; Wenzelburger, Jan - 2005

This paper formalizes the price and asset allocation mechanism of multi-unit double auctions in Xetra, the electronic equity trading system operated by the German stock exchange. The trading principles are embedded into the classical theory of quantity rationing. The properties of Xetra auctions...

Persistent link: https://www.econbiz.de/10009452510