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This paper describes a classroom simulation of a simple economy. The simulation is similar in structure to classroom … experiments, but it is carried out regularly throughout the term. This repetition allows for a less deterministic simulation and … economy. As simulation progresses, additional economic concepts and measurements are incorporated, including but not limited …
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treatment and policy evaluation. In contrast to previous simulation studies which mostly considered semiparametric approaches …
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Apart from a priori assumptions on instantaneous or long run effects of structural shocks, sign restrictions have become a prominent means for structural vector autoregressive (SVAR) analysis. Moreover, second order heterogeneity of systems of times series can be fruitfully exploited for...
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