Showing 1 - 7 of 7
A literature debates the explanations for the cyclical properties of emerging markets using either trend shocks (Aguiar and Gopinath 2007) or financial frictions (Neumeyer and Perri 2004; Garcia-Cicco, Pancrazi, and Uribe 2010). We state a formal proposition that makes explicit the parametric...
Persistent link: https://www.econbiz.de/10013472332
We explore empirically models of aggregate fluctuations with two basic ingredients: agents form anticipations about the future based on noisy sources of information and these anticipations affect spending and output in the short run. Our objective is to separate fluctuations due to actual...
Persistent link: https://www.econbiz.de/10010326929
We offer a structural interpretation of survey measures of consumer confidence. Our approach is based on a simple forward-looking model of consumption. The model decomposes observed consumption uctuations in changes due to fundamentals, and changes due to temporary errors caused by noisy...
Persistent link: https://www.econbiz.de/10012793776
Diagnostic expectations constitute a realistic behavioral model of inference. This paper shows that this approach for expectation formation can be productively integrated into the New Keynesian framework. To this end, we start by offering a first technical treatment of diagnostic expectations in...
Persistent link: https://www.econbiz.de/10012655886
This paper experimentally examines whether looking at other people´s pricing decisions is a type of heuristic - a decisionmaking rule - that people use even when it is not applicable, as in the case of clearly private value goods. We find evidence that this indeed is the case - an individual´s...
Persistent link: https://www.econbiz.de/10010280947
Primary healthcare institutions (PHIs) in China have experienced a sizable decline in medical services in recent years. Despite the large regional disparities in China, there is a lack of evidence on the differential patterns of medical services offered by PHIs, especially from a spatial...
Persistent link: https://www.econbiz.de/10014310784
Primary healthcare institutions (PHIs) in China have experienced a sizable decline in medical services in recent years. Despite the large regional disparities in China, there is a lack of evidence on the differential patterns of medical services offered by PHIs, especially from a spatial...
Persistent link: https://www.econbiz.de/10014377235