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Empirical Essays On Uncertainty And Economic Behavior
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Book Synopsis Empirical Essays on Uncertainty and Economic Behavior by : Paul Jones
Download or read book Empirical Essays on Uncertainty and Economic Behavior written by Paul Jones and published by . This book was released on 2014 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation looks at the new and growing field of macroeconomic uncertainty. It consists of three empirical essays on different measures of macroeconomic uncertainty and how uncertainty affects macroeconomic behavior. The first essay uses a new uncertainty index from Baker et al. (2012). We evaluate the time-varying correlation between macroeconomic uncertainty, inflation, and output. Estimation results from a multivariate DCC-GARCH model reveal that the sign of the correlation between macroeconomic uncertainty and inflation changed from negative to positive during the late 1990s, whereas the correlation between uncertainty and output is consistently negative. In the second essay, we propose domestic uncertainty shocks may serve as a channel through which business cycles are transmitted internationally. To quantify uncertainty, we use two measures from the current literature and estimate structural vector autoregressions to evaluate the effects U.S. uncertainty shocks have on the Japanese and British economies. Our results suggest U.S. uncertainty shocks have international effects consistent with a demand shock in the context of an open-economy IS/LM model with sticky prices. For the final essay we estimate a number of macroeconomic variables as logistic smooth transition autoregressive (LSTAR) processes with uncertainty as the transition variable. Nonlinear estimation allows us to answer several interesting questions left unanswered by a linear model. For a number of important macroeconomic variables, we show (i) a positive shock to uncertainty has a greater effect than a negative shock, and (ii) the effect of the uncertainty shock is highly dependent on the state of the economy. Hence, the usual linear estimates concerning the consequences of uncertainty are underestimated in circumstances such as the recent financial crisis.
Book Synopsis Essays on Economic Behavior Under Uncertainty by : Michael Balch
Download or read book Essays on Economic Behavior Under Uncertainty written by Michael Balch and published by North-Holland. This book was released on 1974 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Economic Behavior Under Uncertainty by : Kaïs Dachraoui
Download or read book Three Essays on Economic Behavior Under Uncertainty written by Kaïs Dachraoui and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Economic Behavior Under Uncertainty, Theory and Empirical Evidences by :
Download or read book Three Essays on Economic Behavior Under Uncertainty, Theory and Empirical Evidences written by and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :George Katona Publisher :Ann Arbor, Mich. : Survey Research Center, Institute for Social Research, University of Michigan ISBN 13 : Total Pages :120 pages Book Rating :4.:/5 (43 download)
Book Synopsis Essays on Behavioral Economics by : George Katona
Download or read book Essays on Behavioral Economics written by George Katona and published by Ann Arbor, Mich. : Survey Research Center, Institute for Social Research, University of Michigan. This book was released on 1980 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Economic Behavior and Uncertainty by : M. S. Balch
Download or read book Essays on Economic Behavior and Uncertainty written by M. S. Balch and published by . This book was released on 1974 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on economic behavior under uncertainty by : M. Balch
Download or read book Essays on economic behavior under uncertainty written by M. Balch and published by . This book was released on 1974 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Risk, Uncertainty and Profit by : Frank H. Knight
Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Book Synopsis Essays in Dynamic Uncertainty by : Steven E. Scroggin
Download or read book Essays in Dynamic Uncertainty written by Steven E. Scroggin and published by . This book was released on 2005 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Empirical Essays on the Socioeconomic Consequences of Economic Uncertainty by : Wolfgang Auer
Download or read book Empirical Essays on the Socioeconomic Consequences of Economic Uncertainty written by Wolfgang Auer and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Empirical Essays on the Influence of Uncertainty in the World Economy by : Christopher Thiem
Download or read book Empirical Essays on the Influence of Uncertainty in the World Economy written by Christopher Thiem and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis ESSAYS ON ECONOMIC BEHAVIOR UNDER UNCERTAINTY- SELECTED PAPERS FROM A CONFERENCE- NSF-NBER CONFERENCE ON DECISION RULES AND UNCERTAINTY- NATIONAL SCIENCE FOUNDATION- NATIONAL BUREAU OF ECONOMIC RESEARCH. by :
Download or read book ESSAYS ON ECONOMIC BEHAVIOR UNDER UNCERTAINTY- SELECTED PAPERS FROM A CONFERENCE- NSF-NBER CONFERENCE ON DECISION RULES AND UNCERTAINTY- NATIONAL SCIENCE FOUNDATION- NATIONAL BUREAU OF ECONOMIC RESEARCH. written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Uncertainty, Instabilities And Asset Bubbles: Selected Essays by : Anastasios G Malliaris
Download or read book Economic Uncertainty, Instabilities And Asset Bubbles: Selected Essays written by Anastasios G Malliaris and published by World Scientific. This book was released on 2005-10-03 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: The compendium of papers in this volume focuses on aspects of economic uncertainty, financial instabilities and asset bubbles.Economic uncertainty is modeled in continuous time using the mathematical techniques of stochastic calculus. A detailed treatment of important topics is provided, including the existence and uniqueness of asymptotic economic growth, the modeling of inflation and interest rates, the decomposition of inflation and its volatility, and the extension of the quantity theory of money to allow for randomness.The reader is also introduced to the methods of chaotic dynamics, and this methodology is applied to asset pricing, the European equity markets, and the multi-fractality in foreign currency markets.Since the techniques of stochastic calculus and chaotic dynamics do not readily accommodate the presence of stochastic bubbles, several papers discuss in depth the presence of financial bubbles in asset prices, and econometric work is performed to link such bubbles to monetary policy.Finally, since bubbles often burst rather than deflate slowly, the last section of the book studies the crash of October 1987 as well as other crashes of national equity markets due to the Persian gulf crisis.
Book Synopsis Essays in Empirical Macroeconomics by : Scott Ross Baker
Download or read book Essays in Empirical Macroeconomics written by Scott Ross Baker and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation contains four distinct essays in two broad areas of empirical macroeconomics. The first area analyzes two drivers of household behavior during the great recession as relates to consumption choices and job search when unemployed. The second area covers the measurement and impact of economic and policy uncertainty on economic outcomes.
Book Synopsis Handbook of the Economics of Risk and Uncertainty by : Mark Machina
Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Book Synopsis Economic Complexity and Equilibrium Illusion by : Ping Chen
Download or read book Economic Complexity and Equilibrium Illusion written by Ping Chen and published by Routledge. This book was released on 2010-04-05 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Principle of Large Numbers indicates that macro fluctuations have weak microfoundations; persistent business cycles and interrupted technologies can be better characterized by macro vitality and meso foundations. Economic growth is limited by market extent and ecological constraints. The trade-off between stability and complexity is the foundation of cultural diversity and mixed economies. The new science of complexity sheds light on the sources of economic instability and complexity. This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. They are selected from works completed since 1987, including original research on the evolutionary dynamics of the division of labour, empirical and theoretical studies of economic chaos and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenged by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs. Throughout, a general theory based on complex evolutionary economics is developed, which integrates different insights from Marx, Marshall, Schumpeter, Keynes and offers a new understanding of the evolutionary history of division of labour. This book will be of interest to postgraduates and researchers in Economics, including macroeconomics, financial economics, advanced econometrics and economic methodology.
Book Synopsis Risk and Uncertainty in Economics by : David G. Dickinson
Download or read book Risk and Uncertainty in Economics written by David G. Dickinson and published by Edward Elgar Publishing. This book was released on 1994 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: What impact do random events have on individuals? How do they adapt to living in an uncertain stochastic environment? This work pays tribute to the contribution of James L. Ford to our understanding of these themes.
