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The Implications of Hyperbolic Discounting for Project Evaluation
Project Evaluation Hyperbolic Discounting
2015/9/18
The neoclassical theory of project evaluation is based on
models in which agents discount the future at a constant
exponential rate. But there is strong empirical evidence say
that people discoun...
Monetary Policy During a Transition to Rational Expectations
Monetary Policy Rational Expectations
2015/8/5
In standard macroeconomic models incorporating the natural rate
hypothesis and rational expectations, monetary policy has no effect on
real variables. But the rational expectations assumption that e...
One of the more important questions in the area of quantitative economic
policy concerns the suitability of optimal control theory for economic
stabilization problems. Despite extensive theoretical ...
The Determinants of Economic Policy with Rational Expectations
Economic Policy Rational Expectations
2015/8/5
This paper is a sumaary of remarks for a
panel discussion on "Rational Expectations and
the Control of the Econcatym. After a brief
review of the major issues in this area, it is
argued that the c...
Conditions for Unique Solutions in Stochastic Macroeconomic Models with Rational Expectations
Unique Solutions Stochastic Macroeconomic Models
2015/8/5
This paper examines conditions for the uniqueness of an equilibrium price distribution in
stochastic macroeconomic models with rational expectations. A model is developed in
which many price distrib...
Econometric Models of Criminal Behavior: A Review.
Comments on Temporal and Sectoral Aggregation of Seasonally Adjusted Time Series
Temporal Sectoral Aggregation
2015/8/5
Comments on Temporal and Sectoral Aggregation of Seasonally Adjusted Time Series.
Estimation and Control of a Macroeconomic Model with Rational Expectations
Macroeconomic Model Rational Expectations
2015/8/5
Estimation and Control of a Macroeconomic Model with Rational Expectations.
An Econometric Business Cycle Model with Rational Expectations: Some Estimation Results
Rational Expectations Some Estimation Results
2015/8/5
An Econometric Business Cycle Model with Rational Expectations: Some Estimation Results.
Recent Developments in the Theory of Stabilization Policy
Recent Developments Stabilization Policy
2015/8/5
During the past decade the theoretical framework underlying
macroeconomic stabilization analysis has undergone a number of significant
developments. Theories designed to explain the crucial linkage
...
Review of Macroeconomic Analysis and Stabilization Policy by Stephen J. Turnovsky
Review of Macroeconomic Analysis Stabilization Policy
2015/8/5
Review of Macroeconomic Analysis and Stabilization Policy by Stephen J. Turnovsky.
‘Forward’ to Special Issues on Rational Expectations Analysis
Special Issues Rational Expectations Analysis
2015/8/5
Rational expectations analysis has received increasing attention from economists
in recent years. Some of this attention has been evident in papers
published in the first volume of this journal, and...
The non-stochastic model which is the focus of discussion in Part I of the book consists of
three assets (money, government bonds, and equities) and three sectors (households, firms, and
government)...
The Swedish Investment Funds System as a Stabilization Policy Rule
Wage Rigidity Unemployment
2015/8/5
There are a number of reasons for this new emphasis. Increased
attention to expectations has led to the need to specify future as well as
current policy actions and hence to the specification of pol...
Macroeconomic Tradeoffs in an International Economy with Rational Expectations
Macroeconomic Tradeoffs Rational Expectations
2015/8/5
Macroeconomic Tradeoffs in an International Economy with Rational Expectations.