Title:Dating the Euro Area Business Cycle
Author(s):ARTIS, Michael J.; MARCELLINO, Massimiliano; PROIETTI, TommasoDate:2002Type of Publication:Working PaperSeries/Report no.:EUI ECO
Title:Debt Consolidation and Fiscal Stabilization of Deep Recessions
Author(s):CORSETTI, Giancarlo; KUESTER, Keith; MEIER, André; MÜLLER, Gernot J.Date:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The global financial crisis of 2008–09 has sent public debt on sharply
higher trajectories. With the economic recovery gradually taking hold, the
focus is now shifting to fiscal “exit” strategies. Medium-term ...
Title:Decision Makers Facing Uncertainty: Theory versus Evidence
Author(s):GIORDANI, Paolo; SCHLAG, Karl H.; ZWART, SanneDate:2007Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:We consider three competing normative theories of how to make choices when facing
uncertainty: subjective expected utility, maximin utility and minimax regret. In simple
decision problems, we compare how decision makers ...
Title:Decision Making and Learning in a Globalizing World
Author(s):SWANK, Otto H.; VISSER, BaukeDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Decision-makers can benefit from the experience of others with solutions to common problems. If a best practice exists, the challenge is to recognize it and to ensure its diffusion. Information about di¤erent solutions is ...
Title:Deep Habits
Author(s):RAVN, Morten O.; SCHMITT-GROHE, Stephanie; URIBE, MartinDate:2004Type of Publication:Working PaperSeries/Report no.:Working paper
Title:Deep Habits and the Dynamic Effects of Monetary Policy Shocks
Author(s):RAVN, Morten O.; SCHMITT-GROHE, Stephanie; URIBE, Martin; UUSKULA, LennoDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper introduces deep habits into a sticky-price sticky-wage economy and asks whether the countercyclical markup movements induced by deep habits is helpful for accounting for the dynamic effects of monetary policy ...
Title:Demand, Supply, and Animal Spirits
Author(s):LOPEZ, Humberto; UBIDE, Angel J.Date:1996Type of Publication:Working PaperSeries/Report no.:EUI ECO
Title:Democracy, Demography and Growth
Author(s):WALDMANN, RobertDate:1995Type of Publication:Working PaperSeries/Report no.:EUI ECO
Title:Deposit Insurance without Commitment: Wall St. versus Main St.
Author(s):COOPER, Russell; KEMPF, HubertDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper studies the provision of deposit insurance without commitment in an economy with heterogenous households. When households are identical, deposit insurance will be provided ex post to reap insurance gains. But ...
Title:Deposits and bank capital structure
Author(s):ALLEN, Franklin; CARLETTI, ElenaDate:2013Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:In a model with bankruptcy costs and segmented deposit and equity markets, we endogenize the choice of bank and firm capital structure and the cost of equity and deposit finance. Despite risk neutrality, equity capital is ...
Title:Designing Non-Parametric Estimates and Tests for Means
Author(s):SCHLAG, Karl H.Date:2006Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We show how to derive nonparametric estimates from results for Bernoulli distributions, provided the means are the only parameters of interest. The only information
is that the support of each random variable is contained ...
Title:Detecting Propagation Effects by Observing Aggregate Distributions: The Case of Lumpy Investments
Author(s):GUISO, Luigi; LAI, Chaoqun; NIREI, MakotoDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:By using an extensive panel data set of Italian firms, we show empirically that the fraction of firms that engage in a lumpy investment follows a non-normal, double-exponential distribution across region-year. We propose ...
Title:The Determinants of Attitudes towards Strategic Default on Mortgages
Author(s):GUISO, Luigi; SAPIENZA, Paola; ZINGALES, LuigiDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We use survey data to study American households’ propensity to default when the value of their
mortgage exceeds the value of their house even if they can afford to pay their mortgage (strategic
default). The cost of ...