This paper considers the problem of changing prices over time to maximize expected revenues in the presence of unknown demand distribution parameters. It provides and compares several methods that use the sequence of past prices and observed demands to set price in the current period. A Taylor...

When choosing a strategy for monetary policy, policymakers must grapple with mismeasurement of labor market slack, and of the responsiveness of price inflation to that slack. Using stochastic simulations of a small-scale version of the Federal Reserve Board’s principal New Keynesian...

In this paper, benefits resulting from the interaction of electric vehicles and photovoltaic generation units are analyzed. In doing so, a bottom-up approach is developed to simulate the driving and charging behavior of electric vehicles. An economic analysis is then performed to determine key...

This paper illustrates the usefulness of computational methods for the investigation of institutions. As an example, we use a computational agent-based model to study the role of general trust and social control in informal value transfer systems (ITVS). We find that, how and in which timeline...

We construct novel proxies of physical and transition climate risks by conducting textual analysis of climate-change news over the period 2000-2018. This analysis uncovers four textual variables related to the topics of U.S. climate policy, international summits, natural disasters, and global...

Using a nonlinear Bayesian likelihood approach that fully accounts for the zero lower bound on nominal interest rates, the authors analyze US post-crisis business cycle dynamics and provide reference parameter estimates. They find that neither the inclusion of financial frictions nor that of...

The United States Code (Code) is a document containing over 22 million words that represents a large and important source of Federal statutory law. Scholars and policy advocates often discuss the direction and magnitude of changes in various aspects of the Code. However, few have mathematically...

The Energy Independence Security Act aims to increase the production of renewable fuels in order to improve the energy efficiency of the United States of America. This legislation set the biofuel production goal at 136.3 million m3 by 2022, with approximately 79 million m3 derived from advanced...

Current sources of data on rental housing – such as the census or commercial databases that focus on large apartment complexes – do not reflect recent market activity or the full scope of the U.S. rental market. To address this gap, we collected, cleaned, analyzed, mapped, and visualized 11...

Evidence is found of fully developed turbulence in the increments of U.S. bond fund flows. These flow increments are found to be both anisotropic and locally isotropic. The response function of the market participants generating the flow turbulence is linked to both renormalization and scale...