Open Access. Powered by Scholars. Published by Universities.®

Digital Commons Network™

Open Access. Powered by Scholars. Published by Universities.®

Yale University

Discipline
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 7801 - 7830 of 33873

Full-Text Articles in Entire DC Network

Variable Mismeasurement In A Class Of Dsge Models: Comment, Ray C. Fair Feb 2019

Variable Mismeasurement In A Class Of Dsge Models: Comment, Ray C. Fair

Cowles Foundation Discussion Papers

This comment points out mismeasurement of variables in the DSGE model in Smets and Wouters (2007) and in models that follow the Smets-Wouters measurement procedures. The mismeasurement errors appear to be large.


Testing The Eu Framework For The Recovery And Resolution Of Banks: The Italian Experience, Stefano Micossi Feb 2019

Testing The Eu Framework For The Recovery And Resolution Of Banks: The Italian Experience, Stefano Micossi

Documents

No abstract provided.


Ypfs Lessons Learned Oral History Project: An Interview With Jack Gutt, Mercedes Cardona, Jack Gutt Feb 2019

Ypfs Lessons Learned Oral History Project: An Interview With Jack Gutt, Mercedes Cardona, Jack Gutt

Documents

Suggested Citation Form: Gutt, Jack, 2019. “Lessons Learned Interview."Interview by Mercedes Cardona. Yale Program on Financial Stability Lessons Learned Oral History Project. February 14, 2019. Transcript. https://ypfs.som.yale.edu/library/ypfs-lesson-learned-oral-history-project- interview-jack-gutt


National Asset Management Agency (Nama) Section 227 Review Web Page, Ireland: Department Of Finance/An Roinn Airgeadais, Ireland: National Asset Management Agency Feb 2019

National Asset Management Agency (Nama) Section 227 Review Web Page, Ireland: Department Of Finance/An Roinn Airgeadais, Ireland: National Asset Management Agency

Documents

No abstract provided.


D¡Il Éireann Debate - Tuesday - 5 February 2019: Nama Legal Cases, Ireland: Oireachtas Feb 2019

D¡Il Éireann Debate - Tuesday - 5 February 2019: Nama Legal Cases, Ireland: Oireachtas

Documents

No abstract provided.


Gse Reform, Cfpb Underwriting Rule Are On Collision Course, Kate Berry Feb 2019

Gse Reform, Cfpb Underwriting Rule Are On Collision Course, Kate Berry

Documents

No abstract provided.


Final Guidance For The 2019 (Federal Register 84, No. 23), Federal Reserve Feb 2019

Final Guidance For The 2019 (Federal Register 84, No. 23), Federal Reserve

Documents

No abstract provided.


New Haven Food Action Plan (2019), New Haven Food Policy Council Feb 2019

New Haven Food Action Plan (2019), New Haven Food Policy Council

Reports

No abstract provided.


Physical Laws And Human Behavior: A Three-Tier Framework, Shabnam Mousavi, Shyam Sunder Feb 2019

Physical Laws And Human Behavior: A Three-Tier Framework, Shabnam Mousavi, Shyam Sunder

Cowles Foundation Discussion Papers

Social sciences start by looking at the social-psychological attributes of humans to model and explain their observed behavior. However, we suggest starting the study of observed human behavior with the universal laws of physics, e.g., the principle of minimum action. In our proposed three-tier framework, behavior is a manifestation of action driven by physical, biological, and social-psychological principles at the core, intermediate, and top tier, respectively. More broadly, this reordering is an initial step towards building a platform for reorganizing the research methods used for theorizing and modeling behavior. This perspective outlines and illustrates how a physical law can account …


Non-Exclusive Insurance With Free Entry: A Pedagogical Note, Pradeep Dubey, John Geanakoplos Feb 2019

Non-Exclusive Insurance With Free Entry: A Pedagogical Note, Pradeep Dubey, John Geanakoplos

Cowles Foundation Discussion Papers

We consider the Rothschild-Stiglitz model of insurance but without the exclusivity constraint. It turns out that there always exists a unique equilibrium, in which the reliable and unreliable consumers take out a primary insurance up to its quantity limit, and the unreliable take out further secondary insurance at a higher premium. We provide a simple proof of this result (extended to multiple types of consumers) with the hope that it may be pedagogically useful.


Variable Mismeasurement In A Class Of Dsge Models: Comment, Ray C. Fair Feb 2019

Variable Mismeasurement In A Class Of Dsge Models: Comment, Ray C. Fair

Cowles Foundation Discussion Papers

This comment points out mismeasurement of three of the variables in the DSGE model in Smets and Wouters (2007) and in models that use the Smets-Wouters model as a benchmark. The mismeasurement appears serious enough to call into question the reliability of empirical results using these variables.


Inflation In The Great Recession And New Keynesian Models: Comment, Ray C. Fair Feb 2019

Inflation In The Great Recession And New Keynesian Models: Comment, Ray C. Fair

Cowles Foundation Discussion Papers

This comment points out mismeasurement of three of the variables in the DSGE model in Del Negro, Giannoni, and Schorfheide (2015). These errors began with the model in Smets and Wouters (2007), and they also exist in other models that use the Smets-Wouters model as a benchmark. The mismeasurement appears serious enough to call into question the reliability of empirical results using these variables.


Some Important Macro Points, Ray C. Fair Feb 2019

Some Important Macro Points, Ray C. Fair

Cowles Foundation Discussion Papers

This paper lists 19 points that follow from results I have obtained using a structural macroeconomic model (SEM). Such models are more closely tied to the aggregate data than are DSGE models, and I argue that DSGE models and similar models should have properties that are consistent with these points. The aim is to try to bring macro back to its empirical roots.


Bamc Business Strategy 2019-2022, Bank Assets Management Company (Bamc)/Družba Za Upravljanje Terjatev Bank, D.D. (Dutb) Feb 2019

Bamc Business Strategy 2019-2022, Bank Assets Management Company (Bamc)/Družba Za Upravljanje Terjatev Bank, D.D. (Dutb)

Documents

No abstract provided.


Russian Financial Sector Investor Presentation, Central Bank Of Russia Feb 2019

Russian Financial Sector Investor Presentation, Central Bank Of Russia

Documents

No abstract provided.


Global Collateral And Capital Flows, Ana Fostel, John Geanakoplos, Gregory Phelan Feb 2019

Global Collateral And Capital Flows, Ana Fostel, John Geanakoplos, Gregory Phelan

Cowles Foundation Discussion Papers

Cross-border financial flows arise when (otherwise identical) countries differ in their abilities to use assets as collateral to back financial contracts. Financially integrated countries have access to the same set of financial instruments, and yet there is no price convergence of assets with identical payoffs, due to a gap in collateral values. Home (financially advanced) runs a current account deficit. Financial flows amplify asset price volatility in both countries, and gross flows driven by collateral differences collapse following bad news about fundamentals. Our results can explain financial flows among rich, similarly-developed countries, and why these flows increase volatility.


Some Important Macro Points, Ray C. Fair Feb 2019

Some Important Macro Points, Ray C. Fair

Cowles Foundation Discussion Papers

This paper lists 19 points that follow from results I have obtained using a structural macroeconomic model (SEM). Such models are more closely tied to the aggregate data than are DSGE models, and I argue that DSGE models and similar models should have properties that are consistent with these points. The aim is to try to bring macro back to its empirical roots.


Narratives About Technology-Induced Job Degradation Then And Now, Robert J. Shiller Feb 2019

Narratives About Technology-Induced Job Degradation Then And Now, Robert J. Shiller

Cowles Foundation Discussion Papers

Concerns that technological progress degrades job opportunities have been expressed over much of the last two centuries by both professional economists and the general public. These concerns can be seen in narratives both in scholarly publications and in the news media. Part of the expressed concern about jobs has been about the potential for increased economic inequality. But another part of the concern has been about a perceived decline in job quality in terms of its effects on monotony vs creativity of work, individual sense of identity, power to act independently, and meaning of life. Public policy should take account …


Contract Enforcement And Productive Efficiency: Evidence From The Bidding And Renegotiation Of Power Contracts In India, Nicholas Ryan Feb 2019

Contract Enforcement And Productive Efficiency: Evidence From The Bidding And Renegotiation Of Power Contracts In India, Nicholas Ryan

Cowles Foundation Discussion Papers

Weak contract enforcement may reduce the efficiency of production in developing countries. I study how contract enforcement affects efficiency in procurement auctions for the largest power projects in India. I gather data on bidding and ex post contract renegotiation and find that the renegotiation of contracts in response to cost shocks is widespread, despite that bidders are allowed to index their bids to future costs like the price of coal. Connected firms choose to index less of the value of their bids to coal prices and, through this strategy, expose themselves to cost shocks to induce renegotiation. I use a …


Spatial Linkages, Global Shocks, And Local Labor Markets: Theory And Evidence, Rodrigo Adão, Costas Arkolakis, Federico Espósito Feb 2019

Spatial Linkages, Global Shocks, And Local Labor Markets: Theory And Evidence, Rodrigo Adão, Costas Arkolakis, Federico Espósito

Cowles Foundation Discussion Papers

How do shocks to economic fundamentals in the world economy affect local labor markets? In a framework with a flexible structure of spatial linkages, we characterize the model-consistent shock exposure of a local market as the exogenous shift in its production revenues and consumption costs. In general equilibrium, labor outcomes in any market respond directly to the market’s own shock exposure, and indirectly to other markets shocks exposures. We show how spatial linkages control the size and the heterogeneity of these indirect effects. We then develop a new estimation methodology - the Model-implied Optimal IV (MOIV) - that exploits quasi-experimental …


Contract Enforcement And Productive Efficiency: Evidence From The Bidding And Renegotiation Of Power Contracts In India, Nicholas Ryan Feb 2019

Contract Enforcement And Productive Efficiency: Evidence From The Bidding And Renegotiation Of Power Contracts In India, Nicholas Ryan

Cowles Foundation Discussion Papers

Weak contract enforcement may reduce the efficiency of investment in developing countries. I study how contract enforcement affects efficiency in procurement auctions for the largest power projects in India. I gather data on bidding and ex post contract renegotiation and find that the renegotiation of contracts in response to cost shocks is widespread, despite that bidders are allowed to index their bids to future costs like the price of coal. Connected firms choose to index less of the value of their bids to coal prices and, through this strategy, expose themselves to cost shocks to induce renegotiation. I use a …


Clinton Bails Out Mexico, Jan. 31, 1995, Andrew Glass Jan 2019

Clinton Bails Out Mexico, Jan. 31, 1995, Andrew Glass

Documents

No abstract provided.


Good And Bad Banking On Europe's Periphery: Pathways To Catching Up And Falling Behind, Rachel Epstein, Martin J. Rhodes Jan 2019

Good And Bad Banking On Europe's Periphery: Pathways To Catching Up And Falling Behind, Rachel Epstein, Martin J. Rhodes

Documents

No abstract provided.


Counterfactuals With Latent Information, Dirk Bergemann, Benjamin Brooks, Stephen Morris Jan 2019

Counterfactuals With Latent Information, Dirk Bergemann, Benjamin Brooks, Stephen Morris

Cowles Foundation Discussion Papers

We describe a methodology for making counterfactual predictions when the information held by strategic agents is a latent parameter. The analyst observes behavior which is rationalized by a Bayesian model, in which agents maximize expected utility, given partial and differential information about payoff-relevant states of the world, represented as an information structure. A counterfactual prediction is desired about behavior in another strategic setting, under the hypothesis that the distribution of the state and agents’ information about the state are held fixed. When the data and the desired counterfactual prediction pertain to environments with finitely many states, players, and actions, there …


Counterfactuals With Latent Information, Dirk Bergemann, Benjamin Brooks, Stephen Morris Jan 2019

Counterfactuals With Latent Information, Dirk Bergemann, Benjamin Brooks, Stephen Morris

Cowles Foundation Discussion Papers

We describe a methodology for making counterfactual predictions in settings where the information held by strategic agents is unknown. The analyst observes behavior assumed to be rationalized by a Bayesian model, in which agents maximize expected utility, given partial and differential information about payoff-relevant states of the world. A counterfactual prediction is desired about behavior in another strategic setting, under the hypothesis that the distribution of the state and agents’ information about the state are held fixed. When the data and the desired counterfactual prediction pertain to environments with finitely many states, players, and actions, the counterfactual prediction is described …


India Amends Currency Swap Fund For Saarc Can Assist Countries Facing Chinese Debt, Dipanjan Roy Chaudhury Jan 2019

India Amends Currency Swap Fund For Saarc Can Assist Countries Facing Chinese Debt, Dipanjan Roy Chaudhury

Documents

No abstract provided.


Ravneet Gill Appointed Yes Bank Md And Ceo, Fortune India Jan 2019

Ravneet Gill Appointed Yes Bank Md And Ceo, Fortune India

Documents

No abstract provided.


Cabinet Approves Amendment To The 'Framework On Currency Swap Arrangement For Saarc, Indian Government Jan 2019

Cabinet Approves Amendment To The 'Framework On Currency Swap Arrangement For Saarc, Indian Government

Documents

No abstract provided.


Speech By Mervyn King, Governor Of The Bank Of England, To The Cbi Dinner, Nottingham, East Midlands Conference Centre, Mervyn King Jan 2019

Speech By Mervyn King, Governor Of The Bank Of England, To The Cbi Dinner, Nottingham, East Midlands Conference Centre, Mervyn King

Documents

No abstract provided.


'Not One Cent More For Finsac Report' - Gov't Takes Hard Line In The Face Of A Request For More Money, Erica Virtue Jan 2019

'Not One Cent More For Finsac Report' - Gov't Takes Hard Line In The Face Of A Request For More Money, Erica Virtue

Documents

No abstract provided.