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作者：Del Negro, M; Schorfheide, F
作者单位：University of Pennsylvania; Federal Reserve System - USA; Federal Reserve Bank - Atlanta
摘要：This article uses a simple New Keynesian dynamic stochastic general equilibrium model as a prior for a vector autoregression, and shows that the resulting model is competitive with standard benchmarks in terms of forecasting, and can be used for policy analysis.
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作者：Boldrin, M; Levine, DK
作者单位：University of California System; University of California Los Angeles; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; University of Minnesota System; University of Minnesota Twin Cities
摘要：In the modern theory of growth, monopoly plays a crucial role both as a cause and an effect of innovation. Innovative firms, it is argued, would have insufficient incentive to innovate should the prospect of monopoly power not be present. This theme of monopoly runs throughout the theory of growth, international trade, and industrial organization. We argue that monopoly is neither needed for, nor a necessary consequence of innovation. In particular, intellectual property is not necessary for, ...
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作者：Bergin, J; Bernhardt, D
作者单位：Queens University - Canada; City University of Hong Kong; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We study economic environments in which agents make choices on the basis of relative performance criteria and call the associated class of dynamic adjustment rules comparative dynamics. We distinguish two classes of learning behavior: learning from the population experience (imitative dynamics) and learning only from one's own experience (introspective dynamics). Paradoxically, for a broad class of models, comparing stochastically stable states across dynamics, agent payoffs are lower for imit...
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作者：Choi, JP; Davidson, C
作者单位：Michigan State University; University of Nottingham
摘要：Multinationals often serve foreign markets by exporting as well as by investing directly in foreign production facilities. We argue that if the multinational competes in an oligopolistic market characterized by strategic complements then there are strategic reasons to use two production facilities--committing to a second source allows the firm to keep average cost low while increasing its marginal cost. The increase in marginal cost softens product market competition resulting in higher profit...
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作者：Domeij, D; Heathcote, J
作者单位：Stockholm School of Economics; Georgetown University
摘要：This article asks whether household heterogeneity and market incompleteness have quantitatively important implications for the welfare effects of tax changes. We compare a representative-agent economy to an economy in which households face idiosyncratic uninsurable income risk. The income process is consistent with empirical estimates and implies a realistic wealth distribution. We find that capital tax cuts imply large welfare gains in the representative-agent economy. However, when household...
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作者：Hutchens, R
作者单位：Cornell University
摘要：This article considers the problem of deriving a numerical measure of segregation, i.e., a measure of inequality in the distribution of people across groups. It proposes a list of eight desirable properties for a good numerical measure of segregation. These properties yield a class of segregation indexes that are related to generalized entropy indexes of income inequality. Moreover, one and only one index-termed the square root index-satisfies seven of the properties.
