Haku
Viitteet 1-6 / 6
Disaster risk and preference shifts in a New Keynesian model
(14.04.2017)
Journal of Economic Dynamics and Control 1 June
Journal of Economic Dynamics and Control 1 June
In RBC models, disaster risk shocks reproduce countercyclical risk premia but generate an increase in consumption along the recession and asset price fall, through their effects on agents’ preferences (Gourio, 2012). This ...
Inflation and demography through time
(30.04.2021)
Journal of Economic Dynamics and Control July
Journal of Economic Dynamics and Control July
Demography accounts for a large share of low frequency inflation variation in 22 countries from 1870 to 2016. The dependent population (young and old) is associated with higher, and the working age population with lower ...
Uncertainty shocks and firm creation : Search and monitoring in the credit market
(15.02.2019)
Journal of Economic Dynamics and Control February
Journal of Economic Dynamics and Control February
We develop a business cycle model where endogenous firm creation stems from two credit market frictions. First, entrepreneurs search for a lending relationship with a bank. Second, an optimal debt contract with monitoring ...
Revisiting intertemporal elasticity of substitution in a sticky price model
(26.07.2022)
Journal of Economic Dynamics and Control November ; 2022
Journal of Economic Dynamics and Control November ; 2022
Macroeconomic models typically assume additively separable preferences where consumption enters the utility function in a logarithmic form. This restriction implies that consumption growth is highly sensitive to movements ...
E-Stability vis-a-vis Determinacy in Regime-Switching Model
(06.10.2020)
Journal of Economic Dynamics and Control December 2020
Journal of Economic Dynamics and Control December 2020
This paper examines E-stability, determinacy, and indeterminacy in a general class of regime-switching models with lagged endogenous variables. Using determinacy conditions from Cho (2016, 2020), our first result extends ...
Bonds, Currencies and Expectational Errors
(15.01.2024)
Journal of Economic Dynamics and Control January 2024
Journal of Economic Dynamics and Control January 2024
We propose a model in which sticky expectations concerning short-term interest rates generate joint predictability patterns in bond and currency markets. Our parsimonious specification can explain the downward sloping term ...