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Growth theory under heterogeneous heuristic behavior

Gomes, Orlando - In: Journal of evolutionary economics 31 (2021) 2, pp. 533-571

Persistent link: https://www.econbiz.de/10012584744

Can the Representativeness Heuristic Explain the Asset Growth Anomaly?

He, Miao; Kapadia, Nishad; Tice, Sheri - 2021

We find that the low average returns to firms with high asset growth are consistent with two key implications of models of diagnostic investor expectations (e.g., Bordalo, Gennaioli, La Porta, and Shleifer, 2019) that formalize the representativeness heuristic of Kahneman and Tversky (1972)....

Persistent link: https://www.econbiz.de/10013249516

Welfare effects of income taxation in a model of stochastic growth

Clemens, Christiane; Soretz, Susanne - 1997

This paper analyzes growth and welfare effects of income taxation in a stochastic endogenous growth model with externalities in human-capital accumulation. The government participates in individual income risks by the collection of a flat-rate income tax that affects the mean and the variance of...

Persistent link: https://www.econbiz.de/10011526591

A simple analytical model of the adverse real effects of inflation

Bastian, Eduardo F.; Setterfield, Mark - In: Journal of post-Keynesian economics : JPKE 38 (2015) 4, pp. 637-665

Persistent link: https://www.econbiz.de/10011509220

Aggregate uncertainty and sectoral productivity growth : the role of credit constraints

Choi, Sangyup; Furceri, Davide; Huang, Yi; Loungani, Prakash - 2017

We show that an increase in aggregate uncertainty - measured by stock market volatility - reduces productivity growth … uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment … uncertainty (Baker et al., 2016) is used instead of stock market volatility as a measure of aggregate uncertainty. …

Persistent link: https://www.econbiz.de/10011634332