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repositories = "EconStor" > : "Theorie" "Dynamisches Gleichgewicht" (x)
<< < 3 4 5 6 7 > >>

Found 124 documents, displaying page 5 of 13

Dynamic Efficiency and Pareto Optimality in a Stochastic OLG Model with Production and Social Security

Author(s) : Barbie, Martin , Hagedorn, Marcus , Kaul, Ashok
Description : We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium interim...
Repository : EconStor
Language(s) : English

Solution of RE Models with Anticipated Shocks and Optimal Policy

Author(s) : Wohltmann, Hans-Werner , Winkler, Roland C.
Description : The purpose of this paper is to solve linear dynamic rational expectations models with anticipated shocks by using the generalized Schur decomposition method. We also determine the optimal unrestricted and restricted policy responses to temporary as well as permanent shocks which both are anticipate...
Repository : EconStor
Language(s) : English

Backward-Looking Interest-Rate Rules, Interest-Rate Smoothing,and Macroeconomic Instability

Author(s) : Benhabib, Jess , Schmitt-Grohé, Stephanie , Uribe, Martín
Description : The existing literature on the stabilizing properties of interest-rate feedback rules has stressed the perils of linking interest rates to forecasts of future inflation. Such rules have been found to give rise to aggregate fluctuations due to self-fulfilling expectations. In response to this concern...
Repository : EconStor
Language(s) : English

Evaluation of Dynamic Stochastic General Equilibrium Models Based on Distributional Comparison of Simulated and Historical Data

Author(s) : Corradi, Valentina , Swanson, Norman R.
Description : We take as a starting point the existence of a joint distribution implied by different dynamic stochastic general equilibrium (DSGE) models, all of which are potentially misspecified. Our objective is to compare "true" joint distributions with ones generated by given DSGEs. This is accomplished via ...
Repository : EconStor
Language(s) : English

Sticky Wages in a Stochastic DGE Model of the Business Cycle

Author(s) : Gail, Michael
Description : In this paper a stochastic dynamic general equilibrium (DGE) model with capital accumulation is augmented by sticky wages. Wages are set in a staggered way as in Taylor (1980) implying that the optimal wage will be set for two periods. Prices are also sticky since there are adjustments cost of price...
Repository : EconStor
Language(s) : English

Unions power, collective bargaining and optimal monetary policy

Author(s) : Faia, Ester , Rossi, Lorenza
Description : We study the design of optimal monetary policy (Ramsey policies) in a model with sticky prices and unionized labour markets. Collective wage bargaining and unions monopoly power tend to dampen wage fluctuations and to amplify employment fluctuations relatively to a DNK model with walrasian labour ma...
Repository : EconStor
Language(s) : English

Exploration and exploitation: the role of entrepreneurship and R&D in the process of innovation

Author(s) : Keilbach, Max , Sanders, Mark
Description : We formulate a model that explicitly separates two functions in the innovation process: The introduction of new goods and the quality improvement of existing goods. While the latter is performed by the corporate R&D sector, the first is performed by entrepreneurs. We show that in a three sector econ...
Repository : EconStor
Language(s) : English

Price and death

Author(s) : Itaya, Jun-ichi , Ursprung, Heinrich W.
Description : How does an artist’s death impact on the price of his or her works of art? We investigate this question in an infinite-horizon dynamic general equilibrium setting. Employing the open-loop Stackelberg equilibrium concept to describe the interactive behaviour of collectors and artists, we find that th...
Repository : EconStor
Language(s) : English

Value function iteration as a solution method for the Ramsey model

Author(s) : Heer, Burkhard , Maußner, Alfred
Description : Value function iteration is one of the standard tools for the solution of the Ramsey model. We compare six different ways of value function iteration with regard to speed and precision. We find that value function iteration with cubic spline interpolation between grid points dominates the other meth...
Repository : EconStor
Language(s) : English

Macroeconomic modeling when agents are imperfectly informed

Author(s) : De Grauwe, Paul
Description : DSGE-models have become important tools of analysis not only in academia but increasingly in the board rooms of central banks. The success of these models has much to do with the coherence of the intellectual framework it provides. The limitations of these models come from the fact that they make ve...
Repository : EconStor
Language(s) : English
<< < 3 4 5 6 7 > >>

Found 124 documents, displaying page 5 of 13