Browsing Center for Applied Economics and Policy Research by Issue Date

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  • Murray, James (Center for Applied Economics and Policy Research, 2008-04-30)
    This paper examines the "bad luck" explanation for changing volatility in U.S. inflation and output when agents do not have rational expectations, but instead form expectations through least squares learning with an ...
  • Leeper, Eric M.; Walker, Todd B.; Yang, Shu-Chun Susan (Center for Applied Economics and Policy Research, 2008-05-12)
    Fiscal foresight---the phenomenon that legislative and implementation lags ensure that private agents receive clear signals about the tax rates they face in the future---is intrinsic to the tax policy process. This paper ...
  • Park, Seok Gil (Center for Applied Economics and Policy Research, 2008-06-12)
    Sterilized foreign exchange market interventions have been suspected of being inefficient by many empirical studies, but they are plagued by endogeneity problems. To solve the problems, this paper identifies a system that ...
  • Murray, James (Center for Applied Economics and Policy Research, 2008-06-13)
    This paper examines how the estimation results for a standard New Keynesian model with constant gain least squares learning is sensitive to the stance taken on agents beliefs at the beginning of the sample. The New Keynesian ...
  • Murray, James (Center for Applied Economics and Policy Research, 2008-06-13)
    This paper examines the empirical significance of learning, a type of adaptive, boundedly rational expectations, in the U.S. economy within the framework of the New Keynesian model. Two popular specifications of the model ...
  • Escanciano, Juan Carlos; Velasco, Carlos (Center for Applied Economics and Policy Research, 2008-08-15)
    This article proposes omnibus specification tests of parametric dynamic quantile regression models. Contrary to the existing procedures, we allow for a flexible and general specification framework where a possibly continuum ...
  • Yoon, Young-Ro (Center for Applied Economics and Policy Research, 2008-08-25)
    Can valuable information be disclosed intentionally by the informed agent even within a competitive environment? In this article, we bring our interest into the asymmetry in reward and penalty in the payoff structure and ...
  • Escanciano, Juan Carlos; Olmo, Jose (Center for Applied Economics and Policy Research, 2008-09-04)
    One of the implications of the creation of Basel Committee on Banking Supervision was the implementation of Value-at-Risk (VaR) as the standard tool for measuring market risk. Thereby the correct specification of parametric ...
  • Rahman, M Saifur (Center for Applied Economics and Policy Research, 2008-09-19)
    Traditionally, Dynamic Scoring calculations experiments are carried out using representative agent based macroeconomic models. Existing literature does not provide any objection to this approach. In this paper, I develop ...
  • Rahman, M Saifur (Center for Applied Economics and Policy Research, 2008-09-19)
    In this paper, I analyze consumption, aggregate savings, output and welfare implications of five different social security arrangements whenever there is demographic uncertainty. Following Bohn (2002), I analyze the effect ...
  • Wooders, Myrna H.; Page, Frank H. Jr. (Center for Applied Economics and Policy Research, 2009-02-24)
    Modeling club structures as bipartite directed networks, we formulate the problem of club formation as a noncooperative game of network formation and identify conditions on network formation rules and players' network ...

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