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The value of money in a dynamic equilibrium model

Santos, Manuel - In: Economic Theory 27 (2006) 1, pp. 39-58

This paper studies the pricing of money in an infinite-horizon economy with heterogeneous agents, incomplete financial markets and arbitrary borrowing restrictions. Purchases of the consumption good are subject to a cash-in-advance constraint. Under general conditions I show that the price of...

Persistent link: https://www.econbiz.de/10005753228

Bitcoin: something seems to be ‘fundamentally’ wrong

Gómez-González, José E.; Parra-Polania, Julián A. - BANCO DE LA REPÚBLICA - 2014

In the present paper we remark that the absence of an intrinsic or fundamental value represents a problem for the stability of the bitcoin’s price as an asset. In addition, we consider some financial stability concerns that derive from the hypothesis that the bitcoin will survive as an asset...

Persistent link: https://www.econbiz.de/10010770365

Trading volume and market efficiency: an Agent Based Model with heterogenous knowledge about fundamentals

Lespagnol, Vivien; Rouchier, Juliette - 2014

This paper studies the effect of investor’s bounded rationality on market dynamics. In an order driven market, we consider a few-types model where two risky assets are exchanged. Agents differ by their behavior, knowledge, risk aversion and investment horizon. The investor’s demand is...

Persistent link: https://www.econbiz.de/10010779603

RATIONAL SPECULATIVE BUBBLES: A CRITICAL VIEW

Radonjić, Ognjen - In: Economic Annals 52 (2007) 174-175, pp. 73-99

The theory of rational bubbles is, no doubt, a part of the important literature developed within the frame of neoclassical postulates of perfectly rational and informed market participants, and it aims to explain the divergences of asset prices from their fundamental value. According to this...

Persistent link: https://www.econbiz.de/10011039173

A preliminary investigation of northern Ireland's housing market dynamics

Bond, Derek; Gallagher, Emer; Ramsey, Elaine - Volkswirtschaftliche Fakultät, … - 2012

In this paper recent developments in dynamic econometric methodology are used to explore the possibility of asset bubbles in the Northern Ireland housing market. This market is interesting as its house price trajectory is quite unlike any neighbouring market. In recent years it seems to have...

Persistent link: https://www.econbiz.de/10011112737

On the positive fundamental value of money with short-sale constraints

Giménez, Eduardo - In: Annals of Finance 3 (2007) 4, pp. 455-469

Persistent link: https://www.econbiz.de/10005673955

Motives of pro-social behavior in individual versus collective decisions: A comparative experimental study

Bischoff, Ivo; Krauskopf, Thomas - 2013

We investigate the motives of pro-social behavior in collective decisions in an economic experiment. It compares individual behavior in private and collective decisions in a unified experimental setup. Subjects are given an individual endowment and have to decide how much of it to donate to...

Persistent link: https://www.econbiz.de/10010294379

Young Connected Migrants and Non-Normative European Family Life: Exploring Affective Human Right Claims of Young E-Diasporas

Leurs, Koen - In: International Journal of E-Politics (IJEP) 7 (2016) 3, pp. 15-34

In the face of the contemporary so-called “European refugee crisis,”' the dichotomies of bodies that are naturalized into technology usage and the bodies that remain alienated from it betray the geographic, racial, and gendered discriminations that digital technologies, despite their claims...

Persistent link: https://www.econbiz.de/10012044603

The role of affect in attitude formation toward new technologies: The case of stratospheric aerosol injection

Merk, Christine; Pönitzsch, Gert - 2016

This paper analyzes determinants of technology acceptance and their interdependence. It highlights the role of affect … technology that could be used to counteract global warming. We show that affect is more important than risk and benefit … perception in forming judgment about SAI. Negative and positive affect directly alter the perception of risks and benefits of SAI …

Persistent link: https://www.econbiz.de/10011414224

Stability and change in affective experience across the adult life-span: Analyses with a national sample from Germany

Kunzmann, Ute; Richter, David; Schmukle, Stefan C. - 2013

Using cross-sectional and longitudinal data from a national sample spanning the adult lifespan, age differences in anger and sadness were explored. The cross-sectional and longitudinal findings consistently suggest that the frequency of anger increases during young adulthood, but then shows a...

Persistent link: https://www.econbiz.de/10010322353