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Persistent link: https://www.econbiz.de/10012610252
Persistent link: https://www.econbiz.de/10012610253
Our decisions often depend on our subjective perceptions of the surrounding reality and we base our perceptions on the information we have available to us. Consider for instance our assessments of a variety of societal challenges we face, from immigration to inequality. Our perceptions of the...
Persistent link: https://www.econbiz.de/10012615490
We develop methods for robust Bayesian inference in structural vector autoregressions (SVARs) where the parameters of interest are set-identified using external instruments, or 'proxy SVARs'. Set-identification in these models typically occurs when there are multiple instruments for multiple...
Persistent link: https://www.econbiz.de/10012621090
This paper builds on Bonhomme (2012) to develop a method to systematically construct moment conditions for dynamic panel data logit models with fixed effects. After introducing the moment conditions obtained in this way, we explore their implications for identification and estimation of the...
Persistent link: https://www.econbiz.de/10012621115
The 'curse of dimensionality' is a common problem in the estimation of dynamic models: as models get more complex, the computational cost of solving these models rises exponentially. Keane and Wolpin (1994) proposed a method for addressing this problem in finite-horizon dynamic discrete choice...
Persistent link: https://www.econbiz.de/10012625391
important read for those in the fields of economic theory and political economy, Javier Aranzadi argues, in essence, that the …
Persistent link: https://www.econbiz.de/10012648064
framework built upon the basic principle of the Post-Keynsian monetary theory which enables the identification of a new way for …
Persistent link: https://www.econbiz.de/10012648065
Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over … the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an … basic theories of monetary analysis. Concentrating primarily on certain fundamental building blocks it covers: the theory …
Persistent link: https://www.econbiz.de/10012648074
We investigate optimal capital structure and debt maturity policies in the presence of fixed issuance costs. We identify the global-optimal policy that generates the highest values of equity across all states of nature consistent with limited liability. The optimal policy without commitment...
Persistent link: https://www.econbiz.de/10012653018