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Tax-benefit microsimulation in Ecuador: A feasibility study

Jara, H. Xavier - 2015

The aim of this study is to evaluate the feasibility to implement a tax and benefit microsimulation model for Ecuador using EUROMOD as an interface. We first present a detailed description of the main components of the tax and benefit system in Ecuador for year 2014. We then describe available...

Persistent link: https://www.econbiz.de/10011440674

The sweet-and-sour soup of Michał Kalecki's political economy

Sulejewicz, Aleksander - In: International Journal of Management and Economics 56 (2020) 3, pp. 275-279

Leszek Jasiński [2019] attempts, as the title indicates, "a reading after half a century" of Michał Kalecki's thought. We dispute the main claim in the book, i.e. that Kalecki has a firm place in contemporary mainstream economics and was the originator of many ideas generally accepted today....

Persistent link: https://www.econbiz.de/10015192120

Non-bank dealing and liquidity bifurcation in fixed-income markets

Brolley, Michael; Cimon, David A. - 2025

-owned dealers in fixed-income markets. Some market participants worry that if non-bank financial institutions push out established …

Persistent link: https://www.econbiz.de/10015209798

Differentiable, filter free Bayesian estimation of DSGE models using mixture density networks

Naubert, Christopher - 2025

I develop a methodology for Bayesian estimation of globally solved, non-linear macroeconomic models. A novel feature of my method is the use of a mixture density network to approximate the distribution of initial states. I use the methodology to estimate a medium-scale, two-agent New Keynesian...

Persistent link: https://www.econbiz.de/10015209827

Quantum Monte Carlo for economics: Stress testing and macroeconomic deep learning

Skavysh, Vladimir; Priazhkina, Sofia; Guala, Diego; … - 2022

Computational methods both open the frontiers of economic analysis and serve as a bottleneck in what can be achieved. Using the quantum Monte Carlo (QMC) algorithm, we are the first to study whether quantum computing can improve the run time of economic applications and challenges in doing so....

Persistent link: https://www.econbiz.de/10013396512

Cyber security and ransomware in financial markets

Ahnert, Toni; Brolley, Michael; Cimon, David; Riordan, Ryan - 2022

Financial markets face the constant threat of cyber attacks. We develop a principal-agent model of cyber-attacking with fee-paying clients who delegate security decisions to financial platforms. We derive testable implications about clients' vulnerability to cyber attacks and about the fees...

Persistent link: https://www.econbiz.de/10013396515

A horse race of alternative monetary policy regimes under bounded rationality

Wagner, Joel; Schlanger, Tudor; Zhang, Yang - 2022

We introduce bounded rationality, along the lines of Gabaix (2020), in a canonical New Keynesian model calibrated to match Canadian macroeconomic data since Canada's adoption of inflation targeting. We use the model to provide a quantitative assessment of the macroeconomic impact of flexible...

Persistent link: https://www.econbiz.de/10013430322

The Economic Approach to Personality, Character and Virtue

Heckman, James J.; Galaty, Bridget; Tian, Haihan - 2023

This chapter presents an economic approach to character and personality traits with an application to the study of virtue. Economists interpret psychological traits, including character traits and virtue, as strategies that shape responses to situations (actions) determined by underlying...

Persistent link: https://www.econbiz.de/10014296877

Windfall income shocks with finite planning horizons

Boutros, Michael - 2022

How do households respond to unanticipated income shocks? I build and estimate a quantitative model of bounded … rationality in which reoptimization is costly. Households respond to windfall income shocks by choosing a finite planning horizon … over which to reoptimize. The optimal horizon is increasing in income, wealth, and the magnitude of the income shock. In …

Persistent link: https://www.econbiz.de/10014304187

Looking through supply shocks versus controlling inflation expectations: Understanding the Central Bank dilemma

Beaudry, Paul; Carter, Thomas J.; Lahiri, Amartya - 2022

Central banks in most advanced economies have reacted similarly to the increase in inflation that started in 2021. They initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued to increase, central banks pivoted by quickly...

Persistent link: https://www.econbiz.de/10014304188