Similar Search Results

Nominal rigidities and the dynamic effects of a monetary shock

Gerke, Rafael - 2001

Two dynamic sticky price models with monopolistic competition in the goods market are presented. In the first model, each intermediate goods producer faces quadratic costs of adjusting its nominal price as introduced by Rotemberg (1982); the second model incorporates staggered price setting as...

Persistent link: https://www.econbiz.de/10010323709

Residual Log-Periodogram Inference for Long-Run Relationships

Hassler, Uwe; Marmol, Francesc; Velasco, Carlos - 2002

that guarantee consistent estimation of persistence from residuals. At the same time limiting normality is derived, which … several regressors we consider the joint estimation of the memory parameters of the observed series and of the equilibrium …

Persistent link: https://www.econbiz.de/10010323712

Preisträgheit und reale Wechselkursdynamik. Die Persistenz realer Wechselkurse in dynamischen stochastischen Gleichgewichtsmodellen

Heil, Volker - 2003

Dieses Arbeitspapier untersucht Erklärungen für das hohe Mass an Persistenz und Volatilität des realen Wechselkurses. Dabei wird dem Ansatz gefolgt, dass die Schwankungen des realen Wechselkurses zurückzuführen sind auf exogene Schocks in Interaktion mit trägen Güterpreisen. Der Fokus...

Persistent link: https://www.econbiz.de/10010323721

Entscheidungsregeln und ihr Einfluss auf den Aktienkurs

Trifan, Emanuela - 2004

Der vorliegende Beitrag quantifiziert anhand eines Marktmikrostruktur-Modells mit asymmetrischer Information den Einfluss der Anwender praktischer Entscheidungsregeln auf die Aktienkurse. Letztere werden als unvollständig informierte Anleger betrachtet. Neben diesen Anlegern agieren auf dem...

Persistent link: https://www.econbiz.de/10010323722

Marktstruktur, Wettbewerb und Innovation

Caspari, Volker - 2001

Persistent link: https://www.econbiz.de/10010323724

"To use the words of Keynes...": Olivier J. Blanchard on Keynes and the "Liquidity Trap"

Barens, Ingo - 2011

interest, is seen as one of Keynes's important and lasting contributions to economic theory and to the understanding of the …).3 Unfortunately, the account given there of a supposed connection between Keynes's analysis in his General Theory of Employment … before the publication of Keynes's General Theory of Employment, Interest and Money. …

Persistent link: https://www.econbiz.de/10010323726

Passive investment strategies and financial bubbles

Fischer, Thomas - 2012

In this paper, a model of bounded rational investors investing their portfolio in a passive investment vehicle (e.g., an Exchange Traded Fund replicating a broad index) or an actively managed fund is presented. The model proposes that the quick reswitching of these short-term oriented investors...

Persistent link: https://www.econbiz.de/10010323727

"Love of Wealth" and economic growth

Rehme, Günther - 2011

This paper complements research on how love of wealth bears on key variables in a Ramsey-Cass-Koopmans growth framework. It is shown that for an optimum the social planner cannot have an excessive love of wealth. If the planner has the right love of wealth an optimum exists and implies higher...

Persistent link: https://www.econbiz.de/10010323732

A Monte Carlo study of old and new frontier methods for efficiency measurement

Krüger, Jens - 2010

This study presents the results of an extensive Monte Carlo experiment to compare different methods of efficiency analysis. In addition to traditional parametric-stochastic and nonparametric-deterministic methods recently developed robust nonparametric-stochastic methods are considered. The...

Persistent link: https://www.econbiz.de/10010323742

News reaction in financial markets within a behavioral finance model with heterogeneous agents

Fischer, Thomas - 2011

This paper presents a Heterogeneous Agent Model of a financial market with chartist and fundamentalist traders that exhibit bounded rationality and short-term thinking to explain the effect of under and overreaction to news. The existence of the Market Maker's finite price adjustment speed leads...

Persistent link: https://www.econbiz.de/10010323743