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Describing the Dynamics of Distributions in Search and Matching Models by Fokker-Planck Equations
Bayer, Christian; Waelde, Klaus - Volkswirtschaftslehre-Lehrstühle, Gutenberg School of … - 2011
The analysis of distributions is central to search and matching models. Wage distributions are a central concern but distributions of productivities, fi?rm types, human capital, entitlement to unemployment benefi?ts and wealth become increasingly important. We present a method - the...
Persistent link: https://www.econbiz.de/10010862239
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Matching and Saving in Continuous Time: Theory
BAYER, Christian; WALDE, Klaus - Institut de Recherche Économique et Sociale (IRES), … - 2010
We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth dynamics within and between states. There is an...
Persistent link: https://www.econbiz.de/10008505490
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Matching and Saving in Continuous Time: Theory
Bayer, Christian; Wälde, Klaus - Volkswirtschaftslehre-Lehrstühle, Gutenberg School of … - 2010
We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis il- lustrates consumption and wealth dynamics within and between states. There is an...
Persistent link: https://www.econbiz.de/10008544420
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Matching and Saving in Continuous Time: Theory
Bayer, Christian; Wälde, Klaus - CESifo - 2010
We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth dynamics within and between states. There is an...
Persistent link: https://www.econbiz.de/10008534003
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Natural volatility, welfare and taxation
Posch, Olaf; Wälde, Klaus - 2005
. Volatility is shown to depend on the speed of convergence of the cyclical component, the expected length of a cycle and on the … volatility. With exogenous sources of fluctuations, a special case of our model, decentralized factor allocation is efficient …-) stabilize the economy. No unambiguous link exists between volatility and welfare. …
Persistent link: https://www.econbiz.de/10010296535
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Natural volatility, welfare and taxation
Olaf, POSCH; Klaus, WAELDE - Institut de Recherche Économique et Sociale (IRES), … - 2005
. Volatility is shown to depend on the speed of convergence of the cyclical component, the expected length of a cycle and on the … volatility. With exogenous sources of fluctuations, a special case of our model, decentralized factor allocation is efficient …-) stabilize the economy. No unambiguous link exists between volatility and welfare. …
Persistent link: https://www.econbiz.de/10004984872
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On the non-causal link between volatility and growth
Posch, Olaf; Wälde, Klaus - School of Economics and Management, University of Aarhus - 2009
A model highlighting the endogeneity of both volatility and growth is presented. Volatility and growth are therefore … correlated but there is no causal link from volatility to growth. This joint endogeneity is illustrated by working out the … effects through which economies with different tax levels di er both in their volatility and growth. Using a continuous …
Persistent link: https://www.econbiz.de/10005034182
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Natural volatility, welfare and taxation
Posch, Olaf; Wälde, Klaus - Department of Economics, Adam Smith Business School - 2006
. Volatility is shown to depend on the speed of convergence of the cyclical component, the expected length of a cycle and on the … volatility. With exogenous sources of fluctuations, a special case of our model, decentralized factor allocation is efficient …-) stabilize the economy. No unambiguous link exists between volatility and welfare. …
Persistent link: https://www.econbiz.de/10005549062
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Natural volatility, welfare and taxation
Posch, Olaf; Wälde, Klaus - Society for Computational Economics - SCE - 2006
. Volatility is shown to depend on the speed of convergence of the cyclical component, the expected length of a cycle and on the … volatility. With exogenous sources of fluctuations, a special case of our model, decentralized factor allocation is efficient …-) stabilize the economy. No unambiguous link exists between volatility and welfare …
Persistent link: https://www.econbiz.de/10005706245
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On the Non-Causal Link between Volatility and Growth
Posch, Olaf; Wälde, Klaus - Volkswirtschaftslehre-Lehrstühle, Gutenberg School of … - 2010
A model highlighting the endogeneity of both volatility and growth is presented. Volatility and growth are therefore … correlated but there is no causal link from volatility to growth. This joint endogeneity is illustrated by working out the eects … through which economies with dierent tax levels dier both in their volatility and growth. Using a continuous-time dynamic …
Persistent link: https://www.econbiz.de/10008544422