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Mostrando ítems 151-160 de 222
Data Revisions in the Estimation of DSGE Models
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
Revisions of US macroeconomic data are not white-noise. They are persistent, correlated
with real-time data, and with high variability (around 80% of volatility observed in US real-time
data). Their business cycle effects ...
An Estimated New-Keynesian Model with Unemployment as Excess Supply of Labor
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
Wage stickiness is incorporated to a New-Keynesian model with variable capital to drive endogenous unemployment uctuations de ned as the log di¤erence between aggregate labor supply and aggregate labor demand. We estimated ...
Time Variation in an Optimal Asymmetric Preference Monetary Policy Model
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
This paper considers a time varying parameter extension of the Ruge-Murcia (2003, 2004) model to explore whether some of the variation in parameter estimates seen in the literature could arise from this source. A time ...
On the Informational Role of Term Structure in the U.S. Monetary Policy Rule
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-01)
This paper uses a structural approach based on the indirect inference principle to estimate a standard version of the new Keynesian monetary (NKM) model augmented with term structure using both revised and real-time data. ...
Unions, Monetary Shocks and the Labour Market Cycle
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-02)
This paper provides a new growth model by considering strategic behaviour in the supply of labour. Workers form a labour union with the aim of manipulating wages in their own benefit. We analyse the implications on labor ...
Using discrete choice experiments for environmental valuation
(2010)
This paper provides with a review of the state of the art of environmental valuation with discrete choice experiments (DCE). The growing body of literature on this field serves to emphasise the increasing role that DCE are ...
Prices and the Real Exchange Rate in Hong Kong: 1985-2006
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-11)
This paper seeks to quantify to the extent to which price dynamics in Hong Kong are due to the Balassa-Samuelson hypothesis. From 1985 to 1998, the CPI in Hong Kong increased spectacularly, yet there was dramatic deflation ...
Rationing Rules and Stable Coalition Structures
(Departamento de Fundamentos del Análisis Económico I, UPV/EHU, 2016-10-05)
We consider a coalition formation model in which agents have the possibility of forming part of several coalitions but are limited to participate in only one of them. Coalitions of agents produce outputs to be
distributed ...
The Nucleolus, the Kernel, and the Bargaining Set: An Update
(Departamento de Fundamentos del Análisis Económico I, UPV/EHU, 2019-06)
One of David Schmeidler’s many important contributions in his distinguished career was the introduction of the nucleolus, one of the central single-valued solution concepts in cooperative game theory. This paper is an ...
Prosocial norms and degree heterogeneity in social networks
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
We provide empirical evidence to support the claims that social diversity promotes prosocial behavior. We elicit a real-life social network and its members’ adherence to a social norm, namely inequity aversion.
The data ...