Three essays on adaptive learning in monetary economics

... implication that an increase in the money growth rate is associated with a reduction in the steady state in ation rate. In all of this prior work involving the stability of monetary equilibria in overlapping generations ... capital: k t+1 = c in +  in r a +   in k +  in r b  k t : (2.5) Combining (2.5) with (2.3) gives the actual law of motion for interest rates: r t+1...

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... markets to unanticipated in ation is unchanged by controlling for changes in monetary policy expectations. In chapter 3, I ask why monetary contractions have strong e¤ects on the hous- ing market. The ... and so increase consumption only gradually in response to an increase in expected income. In the absence of capital adjustment costs, individuals spend the increase in exp...

Ngày tải lên: 03/06/2014, 01:26

... future groundwater contamination status. Conveyance of incomplete information or of incorrect information regarding groundwater contamination might induce market reactions where none would have ... and out of the SWCA in Washington County (McCullough, phone conversation on 10/31/07; Sampson, phone conversation on 11/1/07), the costs of drilling a new residential well inside the SWC...

Ngày tải lên: 03/06/2014, 02:20

... Leader actually invest in the equilibrium of the improvement games. For that purpose, we define the threshold levels: Three essays on the economics of innovation and regional economics ... changed the innovation incentives for U.S. plant breeders. Alternatively, one can consider the differences in the degrees of protection conferred by patents and PVPs in an internat...

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