Title:Markets and Contracts
Author(s):BISIN, Alberto; GEANAKOPOLS, John; GOTTARDI, Piero; MINELLI, Enrico; POLEMARCHAKIS, HeraklesDate:2011Type of Publication:ArticleAbstract:Economies with asymmetric information are encompassed by an extension of the model of general competitive equilibrium that does not require an explicit modeling of private information. Sellers have discretion over deliveries ...
Title:Markets and Contracts
Author(s):BISIN, Alberto; GEANAKOPOLS, John; GOTTARDI, Piero; MINELLI, Enrico; POLEMARCHAKIS, HeraklesDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Economies with asymmetric information are encompassed by an extension of
the model of general competitive equilibrium that does not require an explicit
modeling of private information. Sellers have discretion over ...
Title:Markets for Information: Of Inefficient Firewalls and Efficient Monopolies
Author(s):CABRALES, Antonio; GOTTARDI, PieroDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:In this paper we study, within a formal model, market environments where information is costly to acquire and is of use also to potential competitors. Agents may then sell, or buy, reports over the information acquired and ...
Title:Markov Switching Causality and the Money-Output Relationship
Author(s):RAVN, Morten O.; PSARADAKIS, Zacharias; SOLA, MartinDate:2005Type of Publication:ArticleAbstract:The causal link between monetary variables and output is one of the most studied issues in macroeconomics. One puzzle from this literature is that the results of causality tests appear to be sensitive with respect to the ...
Title:Markov-Perfect Optimal Fiscal Policy: The Case of Unbalanced Budgets
Author(s):ORTIGUEIRA, Salvador; PEREIRA, JoanaDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We study optimal income taxation and public debt policy in a neoclassical economy pop-
ulated by infinitely-lived households and a benevolent government. The government makes
sequential decisions on the provision of a ...
Title:Markov-Switching MIDAS Models
Author(s):GUÉRIN, Pierre; MARCELLINO, MassimilianoDate:2011Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper introduces a new regression model - Markov-switching mixed data sampling (MS-MIDAS) - that incorporates regime changes in the parameters of the mixed data sampling (MIDAS) models and allows for the use of ...
Title:Matching Firms, Managers and Incentives
Author(s):BANDIERA, Oriana; GUISO, Luigi; PRAT, Andrea; SADUN, RaffaellaDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We provide evidence on the match between firms, managers and incentives using a new survey designed for this purpose. The survey contains information on a sample of executives’ risk preferences and human capital, on the ...
Title:Matching in a DSGE Framework
Author(s):HERTWECK, Matthias S.Date:2010Type of Publication:ThesisSeries/Report no.:EUI PhD thesesAbstract:This thesis consists of three chapters that examine different aspects of frictional labor markets in a DSGE framework. In particular, my thesis investigates the implications of different wage bargaining regimes, labor ...
Title:Matching Theory and Data: Bayesian Vector Autoregression and Dynamic Stochastic General Equilibrium Models
Author(s):KRIWOLUZKY, AlexanderDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper shows how to identify the structural shocks of a Vector Autoregression (VAR) while simultaneously estimating a dynamic stochastic general equilibrium (DSGE) model that is not assumed to replicate the data-generating ...
Title:Matching Theory and Data: Bayesian Vector Autoregression and Dynamic Stochastic General Equilibrium Models
Author(s):KRIWOLUZKY, AlexanderDate:2009Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:This paper shows how to identify the structural shocks of a Vector Autoregression (VAR) while simultaneously estimating a dynamic stochastic general equilibrium (DSGE) model that is not assumed to replicate the data-generating ...