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- 1From:IMF Working PapersThis paper studies the potential long-term effects of three illustrative scenarios using a multi-sector computable general equilibrium (CGE) trade model calibrated to 165 countries. The first scenario estimates effects...
- 2From:IMF Working PapersThis paper develops a dynamic general equilibrium model to assess the effects of temporary business tax cuts. First, the analysis extends the Ricardian equivalence result to an environment with production and...
- 3From:IMF Working PapersUpward sloping yield curves are hard to reconcile with the positive association between income and inflation (the Phillips curve) in consumption-based asset pricing models. Using US and UK data, this paper shows...
- 4From:IMF Working PapersThe notion of a tradeoff between output and financial stabilization is based on monetary-macroprudential models with unique equilibria. Using a game theory setup, this paper shows that multiple equilibria lead to...
- 5From:Business Review (Federal Reserve Bank of Philadelphia)The authors analyze the effects of government spending cuts on economic activity in an environment of severe fiscal strain, as reflected by a sizeable risk premium on government debt. Specifically, they consider a...
- 6From:The American Prospect (Vol. 11, Issue 12)Over the past decade, politicians and pundits have increasingly sought authority for their actions and ideas in the Progressive Era. After Newt Gingrich became speaker in November 1994, he compared himself to William...
- 7From:Technology Review (Cambridge, Mass.) (Vol. 113, Issue 5)It was with something like an apology that Earl Cook, a geologist and executive secretary of the division of earth sciences at the National Research Council, began his December 1972 article for Technology Review on the...
- 8From:Federal Reserve Bank of St. Louis Review (Vol. 89, Issue 4)This paper uses an example to show that a model that fits the available data perfectly may provide worse answers to policy questions than an alternative, imperfectly fitting model. The author argues that, in the context...
- 9From:Business Insurance (Vol. 42, Issue 43)Byline: Ed Frauenheim and Thao Hua Standardizing employment benefits globally may be a good idea, but it can be tricky. Just ask Dena Regan, senior manager of global benefits at communications technology company...
- 10From:Federal Reserve Bank of St. Louis Review (Vol. 78, Issue 3)Analysis of financial market volatility through a model of social security transfers shows that economic policy discretion contributes to the disequilibrium. The discretionary aspect refers to the freedom of policymakers...
- 11From:Federal Reserve Bank of St. Louis Review (Vol. 96, Issue 2)This article was originally presented as a speech at the Association for University Business and Economic Research (AUBER) Annual Meeting, University of Memphis, Memphis, Tennessee, October 16, 2006. I've long had an...
- 12From:Business Review (Federal Reserve Bank of Philadelphia)The authors construct a quantitative equilibrium model of the housing sector that accounts for the homeownership rate, the average foreclosure rate, and the distribution of home-equity ratios across homeowners prior to...
- 13From:The Economist (Vol. 409, Issue 8864)Those who argue that China's investment binge is unsustainable are overstating their case TO BECOME rich, poor countries must enlarge their productive powers, mobilising workers, absorbing new technology and...
- 14From:Business Review (Federal Reserve Bank of Philadelphia)In this paper, the authors present a new approach to incorporating long-term debt into equilibrium models of unsecured debt and default. They make three sets of contributions. First, the authors advance the theory of...
- 15From:The Economist (Vol. 317, Issue 7683)THE overshooting theory explains divergences in exchange rates from their long-run equilibrium. Unfortunately, the idea of equilibrium is itself unclear. The most common definition is PPP-the rate which equates the...
- 16From:Decision Analysis (Vol. 12, Issue 1)Prediction markets are increasingly being used to estimate probabilities of future events, and market equilibrium prices depend on the distribution of subjective probabilities of underlying events. When each contract...
- 17From:Fast CompanyAccording to Richard Pascale, if you want your company to stay alive, then try running it like a living organism. The first rule of life is also the first rule of business: Adapt or die. Leave it to the dynamic,...
- 18From:Federal Reserve Bank of St. Louis Review (Vol. 89, Issue 4)The authors estimate the dynamic stochastic general equilibrium model of Christiano, Eichenbaum, and Evans (2005) on U.K. data. Their estimates suggest that price stickiness is a more important source of nominal...
- 19From:Federal Reserve Bank of St. Louis Review (Vol. 96, Issue 3)The essence of quantitative easing (QE) is reducing the cost of private borrowing through large-scale purchases of privately issued debt instead of public debt (Bernanke, 2009). Considering the economy has drastically...
- 20From:Federal Reserve Bank of St. Louis Review (Vol. 89, Issue 3)Postwar U.S. data show that consumption growth "Granger-causes" output and investment growth, which is puzzling if technology is the driving force of the business cycle. The author asks whether general equilibrium...