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more activist stabilisation policies. However, any suitable model should also include business cycle asymmetries, with …
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size of the welfare losses due to the neglect of these asymmetries crucially depends on their actual combination …. Furthermore, we show that if information on the true extent of the asymmetries is incomplete, the symmetric rule could outperform …
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This paper considers a theoretical model of n asymmetric firms that reduce their initial unit costs by spending on R&D activities. In accordance with Schumpeterian hypotheses we obtain that more efficient (bigger) firms spend more in R&D and this leads to a more concentrated market structure. We...
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inherent asymmetries in the way stock price movements affect the macroeconomy. …
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time, admits non-linearities and asymmetries in cycles. The method assumes that output can be represented by a non …
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