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Aygun, Orhan; Turhan, Bertan - 2021

Reserve systems have been designed and implemented for numerous real-world resource allocation problems. Often, de-reservation policies accompany reserve systems to prevent waste in instances of low demand for exclusive reserve categories. De-reservation policies must be executed carefully so...

Persistent link: https://www.econbiz.de/10013240819

Optimal Top- n Policy

Hafalir, Isa Emin; Pan, Siqi; Tomoeda, Kentaro - 2022

The efficacy of the widely-adopted “top-n” policy in university integration has been questioned because students strategically relocate to low-achieving high schools. We show that when different SES groups have heterogenous relocation costs, the policy can even segregate minorities from the...

Persistent link: https://www.econbiz.de/10013298853

Does bargaining matter in the small firm's matching model?

l’Haridon, Olivier; Malherbet, Franck; Pérez-Duarte, … - 2011

's matching model of unemployment. To the best of our knowledge, this is the first attempt to implement and systematically compare … these solutions in search-matching economies. Our results are twofold. First from the theoretical and methodological … viewpoint, we extend a somewhat flexible search-matching economy to alternative bargaining solutions. In particular, we prove …

Persistent link: https://www.econbiz.de/10009639478

Stocks or Flows? New Thinking About Monetary Transmission Through the Lending Channel

Villar Burke, Javier - 2016

The lending channel is conventionally understood to transmit monetary policy through new loans. We postulate that the lending channel may also operate via the stock of existing loans. In this context, this paper documents a wide diversity in borrowers' features, loan features and price...

Persistent link: https://www.econbiz.de/10012976960

On the indeterminacy of new-Keynesian economics

Beyer, Andreas; Farmer, Roger E. A. - 2004

We study identiÞcation in a class of three-equation monetary models. We argue that these models are typically not identiÞed. For any given exactly identiffed model, we provide an algorithm that generates a class of equivalent models that have the same reduced form. We use our algorithm to...

Persistent link: https://www.econbiz.de/10009636546

Learning stability in economies with heterogenous agents

Honkapohja, Seppo; Mitra, Kaushik - 2002

An economy exhibits structural heterogeneity when the forecasts of different agents have different effects on the determination of aggregate variables. Various forms of structural heterogeneity can arise and we study the important case of economies in which agents' behavior depends on forecasts...

Persistent link: https://www.econbiz.de/10001703664

Assessing DSGE Models with Indeterminacy, Capital Accumulation and Different Taylor Rules

Khramov, Vadim - 2011

This paper studies New Keynesian DSGE models with capital accumulation, different Taylor rules, and the potential for indeterminacy. It is shown that investment activity creates additional channels for monetary policy influence, which allow for the reconsideration of some of the key findings of...

Persistent link: https://www.econbiz.de/10014180088

Learning as a Rational Foundation for Macroeconomics and Finance

Evans, George W.; Honkapohja, Seppo - 2011

Expectations play a central role in modern macroeconomics. The econometric learning approach, in line with the cognitive consistency principle, models agents as forming expectations by estimating and updating subjective forecasting models in real time. This approach provides a stability test for...

Persistent link: https://www.econbiz.de/10014183715

Optimal Monetary Policy When Agents are Learning

Molnar, Krisztina; Santoro, Sergio - 2010

Most studies of optimal monetary policy under learning rely on optimality conditions derived for the case when agents have rational expectations. In this paper, we derive optimal monetary policy in an economy where the Central Bank knows, and makes active use of, the learning algorithm agents...

Persistent link: https://www.econbiz.de/10014198313

Optimal Monetary Policy Rules : The Problem of Stability Under Heterogeneous Learning

Bogomolova, Anna; Kolyuzhnov, Dmitri - 2009

In this paper we extend the analysis of optimal monetary policy rules in terms of stability of an economy, started by Evans and Honkapohja (2003b), to the case of heterogeneous private agents learning. Following Giannitsarou (2003), we pose the question about the applicability of the...

Persistent link: https://www.econbiz.de/10014203533