The extensive margin and US aggregate fluctuations: A quantitative assessment [0.03%]
广阔的边际和美国总体波动性：定量评估
Miguel Casares,Hashmat Khan,Jean-Christophe Poutineau
Miguel Casares
We report empirical evidence indicating that US net business formation has recently turned more volatile, procyclical and persistent. To study these stylized facts, we estimate a DSGE model with endogenous entry and exit. Business units fea...
Adrian Penalver,Nobuyuki Hanaki,Eizo Akiyama et al.
Adrian Penalver et al.
We experimentally investigate the effect of a central bank buying bonds for cash in a quantitative easing (QE) operation. In our experiment, the bonds are perfect substitutes for cash and have a constant fundamental value which is not affec...
Bin Wei,Vivian Z Yue
Bin Wei
Liquidity backstops can mitigate runs. In this paper we develop a dynamic model of debt runs based on He and Xiong (2012) to identify, both conceptually and quantitatively, the value of a liquidity backstop for its run-mitigating role. For ...
Managing the Endogenous Risk of Disease Outbreaks with Non-Constant Background Risk [0.03%]
背景风险非恒定状态下的内生风险管控——以疫情为例
Kevin Berry,David Finnoff,Richard D Horan et al.
Kevin Berry et al.
There is a growing concern that risks of disease outbreak and pandemics are increasing over time. We consider optimal investments in prevention before an outbreak using an endogenous risk approach within an optimal control setting. Using th...
Richard D Horan,Eli P Fenichel,David Finnoff et al.
Richard D Horan et al.
There is growing concern that trade, by connecting geographically isolated regions, unintentionally facilitates the spread of invasive pathogens and pests - forms of biological pollution that pose significant risks to ecosystem and human he...
Numerical computation of the optimal vector field: Exemplified by a fishery model [0.03%]
最优向量场的数值计算：以渔业模型为例
D Grass
D Grass
Numerous optimal control models analyzed in economics are formulated as discounted infinite time horizon problems, where the defining functions are nonlinear as well in the states as in the controls. As a consequence solutions can often onl...
The impact of a financial transaction tax on stylized facts of price returns-Evidence from the lab [0.03%]
金融交易税对价格收益特征量影响的实证研究——来自实验室的证据
Jürgen Huber,Daniel Kleinlercher,Michael Kirchler
Jürgen Huber
As the introduction of financial transaction taxes is increasingly discussed by political leaders we explore possible consequences such taxes could have on markets. Here we examine how "stylized facts", namely fat tails and volatility clust...
T Palivos
T Palivos
"This paper extends the Cass-Koopmans optimal growth model to allow for endogenous fertility choice. It is shown that if agents choose their fertility rate, then the net rate of return on capital (marginal product of capital minus the popul...
P Reichlin,A Rustichini
P Reichlin
"The standard neoclassical model cannot explain persistent migration flows and lack of cross-country convergence when capital and labor are mobile. Here we present a model where both phenomena may take place.... Our model is based on the Ar...
M A El-gamal
M A El-gamal
The author presents "a dynamic version of the Harris-Todaro migration model where a finite population of infinitely-lived Bayesian agents choose consumption and migration decision rules as a function of their histories. The agents do not kn...