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-of-sample forecasts was estimated. It is shown that near-rational concepts produce the same advantages as learning, without its … disadvantages (including the absence of ‘learning expectations’ reactions on policy change). The influence of the observed …
Persistent link: https://www.econbiz.de/10011785054
We develop an overlapping generations monetary endogenous growth (generated by productive public expenditures) model with inflation targeting, characterized by relocation shocks for young agents, which in turn generates a role for money (even in the presence of the return-dominating physical...
Persistent link: https://www.econbiz.de/10013199651
This paper develops a monetary endogenous growth overlapping generations model characterized by endogenous longevity and an inflation targeting monetary authority, and analyzes the growth dynamics that emerges from this framework. Besides the endogenous longevity which depends on the...
Persistent link: https://www.econbiz.de/10010554858
This paper develops a monetary endogenous growth overlapping generations model characterized by production lags - specifically lagged capital inputs - and an inflation targeting monetary authority, and analyses the growth dynamics that emerge from this framework. The growth process is...
Persistent link: https://www.econbiz.de/10011095439
This paper develops a monetary endogenous growth overlapping generations model characterized by production lags - specically lagged capital inputs - and an in ation targeting monetary authority, and analyses the growth dynamics that emerge from this framework. The growth process is endogenized...
Persistent link: https://www.econbiz.de/10011161641
We develop an overlapping generations monetary endogenous growth (generated by productive public expenditures) model with inflation targeting, characterized by relocation shocks for young agents, which in turn generates a role for money (even in the presence of the return-dominating physical...
Persistent link: https://www.econbiz.de/10012237479
This study examines the relationship between healthcare expenditure and disposable income in the 50 US states over the period 1966-2009 using fractional integration and cointegration techniques. The degree of integration and non-linearity of both series are found to vary considerably across...
Persistent link: https://www.econbiz.de/10011307067
In this paper, the authors set out to date-stamp periods of US housing price explosivity for the period 1830-2013. They make use of several robust techniques that allow them to identify such periods by determining when prices start to exhibit explosivity with respect to its past behaviour and...
Persistent link: https://www.econbiz.de/10011674075
In this paper, the dynamics of Standard and Poor's 500 (S&P 500) stock price index is analysed within a time-frequency framework over a monthly period 1791:08-2015:05. Using the Empirical Mode Decomposition technique, the S&P 500 stock price index is divided into different frequencies known as...
Persistent link: https://www.econbiz.de/10011432569
In this paper, the dynamics of Standard and Poor's 500 (S&P 500) stock price index is analysed within a time-frequency framework over a monthly period 1791:08-2015:05. Using the Empirical Mode Decomposition technique, the S&P 500 stock price index is divided into different frequencies known as...
Persistent link: https://www.econbiz.de/10011450319