Essays in Monetary Economics

... and so increase consumption only gradually in response to an increase in expected income In the absence of capital adjustment costs, individuals spend 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 of residential inves...

Ngày tải lên: 03/06/2014, 01:26

Ngày tải lên: 18/02/2014, 11:20

... equation da = din cin + din d in r a db = din d in r b in k + din The rational expectations equilibrium is E-stable if and only if din Proposition Suppose that (0; 1), = and in r < > Then din in ... kt+1 = cin + in r a + in k in r b + (2.5) kt : Combining (2.5) with (2.3) gives the actual law of motion for interest rates: rt+1 = din (cin + in r a) in k + din + in r b kt...

Ngày tải lên: 03/06/2014, 02:19

... of p andf On the other hand, an increase in the other component of the cost of apprehension and conviction, has no direct effect on the marginal cost of changing offenses with f and reduces the ... in b increases the marginal revenue from changing the number of offenses by changing p orf and thereby increases the optimal number of offenses, reduces the...

Ngày tải lên: 20/02/2014, 19:20

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Ngày tải lên: 30/03/2014, 01:20

... being naive (in the sense of the opportunity cost of not being strategic) In particular, in out of the 14 games in CGW, the L1 action guarantees a payoff of at least 45 ECU out of a maximum of ... independent parameters in the model which also incorporates search patterns Before proceeding, let us briefly sketch the design of the experiment as well as the...

Ngày tải lên: 03/06/2014, 01:07

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Ngày tải lên: 03/06/2014, 01:26

... problems in measuring social interactions in real world settings I …nd that both learning about the norm and social in uence play an important role in the choices of the subjects Individuals indulge ... thinking about the uncertainty in their labor force status pretty early in their careers It might be of interest to see whether the heterogeneity across and within gender in bel...

Ngày tải lên: 03/06/2014, 01:26

... Reproduced with permission of the copyright owner Further reproduction prohibited without permission Reproduced with permission of the copyright owner Further reproduction prohibited without ... permission Reproduced with permission of the copyright owner Further reproduction prohibited without permission Reproduced with permission of the copyright owner Further reproductio...

Ngày tải lên: 03/06/2014, 01:27

... D’Erasmo, Tim Jones, Barry Kahn and Anya Yurko Chapter of this dissertation is co-written with Barry Kahn v Oil, Pollution, and Crime: Three Essays in Public Economics Publication No. _ Conan ... Crum Certifies that this is the approved version of the following dissertation: Oil, Pollution, and Crime: Three Essays in Public Economics Committee: Don Fullerto...

Ngày tải lên: 03/06/2014, 02:07

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