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Becker, Johannes; Schneider, Andrea - 2012

We analyze the optimal tax choices of a revenue-maximizing government that levies taxes from firms of which the true degree of mobility is ex ante unknown. Differential tax treatment of immobile and mobile firms is ruled out, but the government may learn from the firms' location responses to...

Persistent link: https://www.econbiz.de/10009683252

Adaptive social learning

March, Christoph - 2016

The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly interact in social-learning settings with distinct information structures. In each round of interaction, they use their experience gained in past rounds to draw inferences from...

Persistent link: https://www.econbiz.de/10011434567

Perceived uncertainty shocks, excess optimism-pessimism, and learning in the business cycle

Chatterjee, Pratiti; Milani, Fabio - 2020

What are the effects of beliefs, sentiment, and uncertainty, over the business cycle? To answer this question, we develop a behavioral New Keynesian macroeconomic model, in which we relax the assumption of rational expectations. Agents are, instead, boundedly rational: they have a...

Persistent link: https://www.econbiz.de/10012294890

Information transmission and ownership consolidation in aid programs

Dreher, Axel; Marchesi, Silvia - 2013

example of a "delegation-scheme." Conversely, project aid represents a more "centralized" type of aid. According to the theory …

Persistent link: https://www.econbiz.de/10010199746

Information transmission within federal fiscal architectures : theory and evidence

Gehring, Kai; Kotsogiannēs, Chrēstos; Marchesi, Silvia - 2013

" consists of unverifiable information and the quality of communication depends on the conflict of interests between the …

Persistent link: https://www.econbiz.de/10010126407

How communication makes the difference between a cartel and tacit collusion : a machine learning approach

Andres, Maximilian; Bruttel, Lisa Verena; Friedrichsen, Jana - 2022

This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free …-form chat communication among firms in a laboratory experiment, we identify typical communication patterns for both explicit … sanctions on communication reinforces the direct cartel-deterring effect of sanctions as collusion is more difficult to reach …

Persistent link: https://www.econbiz.de/10013418834

Core-stable rings in auctions with independent private values

Biran, Omer; Forges, Françoise - 2010

We propose a semi-cooperative game theoretic approach to check whether a given coalition is stable in a Bayesian game with independent private values. The ex ante expected utilities of coalitions, at an incentive compatible (noncooperative) coalitional equilibrium, describe a (cooperative)...

Persistent link: https://www.econbiz.de/10003974150

Revisiting the link between growth and federalism : a Bayesian model averaging approach

Asatryan, Zareh; Feld, Lars P. - 2013

Following the ambiguous results in the literature aimed at understanding the empirical link between fiscal federalism and economic growth, this paper revisits the question using a Bayesian Model Averaging approach. The analysis suggests that the failure to appropriately account for model...

Persistent link: https://www.econbiz.de/10009786223

On identification of Bayesian DSGE models

Koop, Gary; Pesaran, M. Hashem; Smith, Ron - 2011

In recent years there has been increasing concern about the identification of parameters in dynamic stochastic general equilibrium (DSGE) models. Given the structure of DSGE models it may be difficult to determine whether a parameter is identified. For the researcher using Bayesian methods, a...

Persistent link: https://www.econbiz.de/10009124238

Restrictions on risk prices in dynamic term structure models

Bauer, Michael D. - 2015

Restrictions on the risk-pricing in dynamic term structure models (DTSMs) can unleash the power of no-arbitrage by creating a tighter link between cross-sectional and time-series variation of interest rates. This paper presents a new econometric framework for estimation of affine Gaussian DTSMs...

Persistent link: https://www.econbiz.de/10010491726