Showing 1 - 10 of 62
This paper analyzes the relationship between the expectational stability of rational expectations equilibria and the possible convergence of adaptive learning processes. Results obtained using recursive least squares lead to the conjecture that a correspondence between these both selection...
Persistent link: https://www.econbiz.de/10011526755
In diesem Jahr wurde der in Princeton lehrende, britisch-amerikanische Ökonom Angus Deaton mit dem Nobelpreis für Wirtschaftswissenschaften ausgezeichnet. Es werden damit - wie es in der offiziellen Verlautbarung des Nobelpreiskomitees heißt - seine Analysen von Konsum, Armut und Wohlfahrt...
Persistent link: https://www.econbiz.de/10011404031
This paper examines the dynamics of wealth and income inequality along the business cycle and assesses how they are related to fluctuations in the functional income distribution. In a panel estimation for OECD countries between 1970 and 2016 we find that on average income inequality - measured...
Persistent link: https://www.econbiz.de/10014101218
This paper combines the standard incomplete markets model of uninsurable idiosyncratic risks and borrowing constraints with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter also endogenously determined in equilibrium. We derive...
Persistent link: https://www.econbiz.de/10013105141
This paper combines the Aiyagari/Huggett–type standard incomplete markets model with the Arrow/Romer approach to growth to analyze feedback effects between growth and inequality, both endogenously determined in equilibrium. We derive conditions on existence/ nonexistence of balanced growth...
Persistent link: https://www.econbiz.de/10013087716
This paper examines the consequences of international financial integration in a two-sector heterogeneous-agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...
Persistent link: https://www.econbiz.de/10013073605
This paper examines the consequences of international financial integration in a two-sector heterogeneous-agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...
Persistent link: https://www.econbiz.de/10013075269
Persistent link: https://www.econbiz.de/10015193863
Persistent link: https://www.econbiz.de/10015206531
This paper examines the consequences of international financial integration in a two-sector heterogeneous-agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...
Persistent link: https://www.econbiz.de/10010199729