Three essays on adaptive learning in monetary economics
Three essays on adaptive learning in monetary economics
... implication that an increase in the money growth rate is associated with areduction in the steady state in ation rate. In all of this prior work involving the stability of monetary equilibria in overlappinggenerations ... capital:kt+1= c in + in ra + in k+ in rbkt: (2.5)Combining (2.5) with (2.3) gives the actual law of motion for interest rates:rt+1= d in (c in + in ra) + d in in k+ in rbkt(2.6)The ... and S. Honkaphoja (2001), Learning and Expectations in Macroeconomics,Princeton: Princeton University Press.Lucas, R.E. Jr. (1986), Adaptive Behavior and Economic Theory,”Journal of Business...
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essays in monetary economics
... marketsto unanticipated in ation is unchanged by controlling for changes in monetary policyexpectations. In chapter 3, I ask why monetary contractions have strong e¤ects on the hous-ing market. The ... and so increase consumption only gradually in responseto an increase in expected income. In the absence of capital adjustment costs, individualsspend the increase in expected income on investment ... following an increase in the nominal short rate. Since households must take on a mortgage to consume housing, the rise in the real interest rate reduces the share ofresidential investment in output.xv1...
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Three essays on economic reform and household behavior in contemporary China
... permission.Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Three essays on economic reform and household behavior in contemporary ChinaLee, Ming-HsuanProQuest ... permission of the copyright owner. Further reproduction prohibited without permission.Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.Reproduced ... permission of the copyright owner. Further reproduction prohibited without permission.Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.Reproduced...
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Three essays on environmental economics and international trade
... future groundwater contamination status. Conveyance of incomplete information or of incorrect information regarding groundwater contamination might induce market reactions where none would have ... and out of the SWCA in Washington County (McCullough, phone conversation on 10/31/07; Sampson, phone conversation on 11/1/07), the costs of drilling a new residential well inside the SWCA range ... Flow Consequences of the European Union’s Regionalization of Environmental Regulations,” synthesizes the fields of environmental economics and international trade. Environmental regulations could...
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Three essays on real estate, environmental, and urban economics using the hedonic price model technique
... Tennessee, Anstine finds that the impact of perceivable contaminating activities on house values increases as the distance to the contaminating source is reduced, while the existence of non-perceivable ... presence. He examines the impact of noticeable and non-visible disamenities on property values. Using information on property values and housing characteristics for 171 houses located in Jonesborough, ... potentially increased. On the other hand, a real estate agent, acting as a sellers’ agent, has an incentive to avoid providing such information because their commission is based on the selling price....
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Three essays on the economics of innovation and regional economics
... Leader actually invest in the equilibrium of the improvement games. For that purpose, we define the threshold levels: Three essays on the economics of innovation and regional economics ... changed the innovation incentives for U.S. plant breeders. Alternatively, one can consider the differences in the degrees of protection conferred by patents and PVPs in an international context. ... however, depends on the IPR regime and on the possible constraining effects of competition among innovators. We make the simplifying assumption that only the best product is sold in this market,...
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