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Author : Annamaria Lusardi
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.3/5 ( download)
Download or read book Euler Equations in Micro Data written by Annamaria Lusardi and published by . This book was released on 1993 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Irina Khvostova
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (13 download)
Download or read book Euler Equation with Habits and Measurement Errors written by Irina Khvostova and published by . This book was released on 2014 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents estimates for the consumption Euler equation for Russia. The estimation is based on micro-level panel data and accounts for the preference heterogeneity, measurement errors, and the impact of macroeconomic shocks. The presence of multiplicative habits is checked with the LM-test in a GMM framework. We obtain estimates of the elasticity of intertemporal substitution and of the subjective discount factor, which are consistent with the theoretical model and can be used for calibration, as well as for a Bayesian estimation of DSGE models for the Russian economy. We also show that the effects of habit formation are not significant. The hypotheses on habits (external, internal, and both external and internal) are not supported by the data.
Author : Orazio Attanasio
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Euler Equations, Subjective Expectations and Income Shocks written by Orazio Attanasio and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we make three substantive contributions. First, we use elicited subjective income expectations to identify the levels of permanent and transitory income shocks in a lifecycle framework. Second, we use these shocks to assess whether households' consumption is insulated from them. Third, we use the shock data to estimate an Euler equation for consumption. We find that households are able to smooth transitory shocks, but adjust their consumption in response to permanent shocks, albeit not fully. The estimates of the Euler equation parameters with and without expectational errors are similar, which is consistent with rational expectations. We break new ground by combining data on subjective expectations about future income from the Michigan Survey with microdata on actual income from the Consumer Expenditure Survey.
Author : John B. Taylor
Publisher : Elsevier
ISBN 13 : 9780444501578
Total Pages : 576 pages
Book Rating : 4.5/5 (15 download)
Download or read book Handbook of Macroeconomics written by John B. Taylor and published by Elsevier. This book was released on 1999-12-13 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Part 6: Financial Markets and the Macroeconomy. 19. Asset prices, consumption, and the business cycle (J.Y. Campbell). 20. Human behavior and the efficiency of the financial system (R.J. Shiller). 21. The financial accelerator in a quantitative business cycle framework (B. Bernanke, M. Gertler and S. Gilchrist). Part 7: Monetary and Fiscal Policy. 22. Political economics and macroeconomic policy (T. Persson, G. Tabellini). 23. Issues in the design of monetary policy rules (B.T. McCallum). 24. Inflation stabilization and BOP crises in developing countries (G.A. Calvo, C.A. Vegh). 25. Government debt (D.W. Elmendorf, N.G. Mankiw). 26. Optimal fiscal and monetary policy (V.V. Chari, P.J. Kehoe).
Author : Orazio P. Attanasio
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (321 download)
Download or read book Estimating Euler Equations written by Orazio P. Attanasio and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we consider conditions under which the estimation of a log-linearized Euler equation for consumption yields consistent estimates of the preference parameters. When utility is isoelastic and a sample covering a long time period is available, consistent estimates are obtained from the log-linearized Euler equation when the innovations to the conditional variance of consumption growth are uncorrelated with the instruments typically used in estimation. We perform a Montecarlo experiment, consisting in solving and simulating a simple life cycle model under uncertainty, and show that in most situations, the estimates obtained from the log-linearized equation are not systematically biased. This is true even when we introduce heteroscedasticity in the process generating income. The only exception is when discount rates are very high (47% per year). This problem arises because consumers are nearly always close to the maximum borrowing limit: the estimation bias is unrelated to the linearization. Finally, we plot life cycle profiles for the variance of consumption growth, which, except when the discount factor is very high, is remarkably flat. This implies that claims that demographic variables in log-linearized Euler equations capture changes in the variance of consumption growth are unwarranted.
Author : Fumio Hayashi
Publisher : MIT Press
ISBN 13 : 9780262082556
Total Pages : 532 pages
Book Rating : 4.0/5 (825 download)
Download or read book Understanding Saving written by Fumio Hayashi and published by MIT Press. This book was released on 1997 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis of consumption and saving decisions by households has always been one of the most active areas of research in economics--and with good reason. Private consumption is the most important component of aggregate demand in a capitalist economy, and explaining consumption is the key element in most macroeconomic forecasting models. To evaluate the effect of government policies invariably requires the knowledge of how they change parameters relevant for household decision making. Understanding Saving collects eleven papers by economist Fumio Hayashi, along with two previously unpublished chapters, for a total of thirteen chapters. The monograph, which brings together Hayashi's empirical research on saving, is divided into three sections. Part I, "Liquidity Constraints", contains five studies that test the well-known implication of the Life Cycle-Permanent Income hypothesis that households shield consumption from income fluctuations. Part II, "Risk-Sharing and Altruism", contains three papers that examine the interactions between related and unrelated households predicted by the hypothesis for the US and Japanese households. The three papers in Part III, "Japanese Saving Behavior", present the author's explanation of the high saving rate in postwar Japan.
Author : Ben S. Bernanke
Publisher : MIT Press
ISBN 13 : 9780262522717
Total Pages : 398 pages
Book Rating : 4.5/5 (227 download)
Download or read book NBER Macroeconomics Annual 1999 written by Ben S. Bernanke and published by MIT Press. This book was released on 2000 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goals of the annual NBER Macroeconomics Conference are to present, extend, and apply frontier work in macroeconomics and to stimulate work by macroeconomists in policy issues. Each paper in the Annual is followed by comments and discussion. The goals of the annual NBER Macroeconomics Conference are to present, extend, and apply frontier work in macroeconomics and to stimulate work by macroeconomists in policy issues. Each paper in the Annual is followed by comments and discussion.
Author : Angus Deaton
Publisher : Clarendon Press
ISBN 13 : 0191521639
Total Pages : 256 pages
Book Rating : 4.1/5 (915 download)
Download or read book Understanding Consumption written by Angus Deaton and published by Clarendon Press. This book was released on 1992-10-08 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the recent research on saving and consumption, a field in which substantial progress has been made over the last decade. Attempts by economists to understand saving and consumption patterns have generated some of the best science in economics. For more than fifty years, there has been serious empirical and theoretical activity, and data, theory, and policy have never been separated as has happened in many branches of economics. Research has drawn microeconomists interested in household behaviour, as well as macroeconomists, for whom the behaviour of aggregate consumption has always occupied a central role in explaining aggregate fluctuations. Econometricians have also made distinguished contributions, and there has been a steady flow of new methodologies by those working on saving and consumption, in time-series econometrics, as well as in the study of micro and panel data. A coherent account of these developments is presented here, emphasizing the interplay between micro and the macro, between studies of cross-section and panels, and those using aggregate time series data.
Author : Paul Godin
Publisher : American Mathematical Soc.
ISBN 13 : 1470444216
Total Pages : 72 pages
Book Rating : 4.4/5 (74 download)
Download or read book The 2D Compressible Euler Equations in Bounded Impermeable Domains with Corners written by Paul Godin and published by American Mathematical Soc.. This book was released on 2021-06-21 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study 2D compressible Euler flows in bounded impermeable domains whose boundary is smooth except for corners. We assume that the angles of the corners are small enough. Then we obtain local (in time) existence of solutions which keep the L2 Sobolev regularity of their Cauchy data, provided the external forces are sufficiently regular and suitable compatibility conditions are satisfied. Such a result is well known when there is no corner. Our proof relies on the study of associated linear problems. We also show that our results are rather sharp: we construct counterexamples in which the smallness condition on the angles is not fulfilled and which display a loss of L2 Sobolev regularity with respect to the Cauchy data and the external forces.
Author : Albrecht Eberle
Publisher : Vieweg+Teubner Verlag
ISBN 13 : 3663068315
Total Pages : 456 pages
Book Rating : 4.6/5 (63 download)
Download or read book Numerical Solutions of the Euler Equations for Steady Flow Problems written by Albrecht Eberle and published by Vieweg+Teubner Verlag. This book was released on 2013-04-17 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last decade has seen a dramatic increase of our abilities to solve numerically the governing equations of fluid mechanics. In design aerodynamics the classical potential-flow methods have been complemented by higher modelling-level methods. Euler solvers, and for special purposes, already Navier-Stokes solvers are in use. The authors of this book have been working on the solution of the Euler equations for quite some time. While the first two of us have worked mainly on algorithmic problems, the third has been concerned off and on with modelling and application problems of Euler methods. When we started to write this book we decided to put our own work at the center of it. This was done because we thought, and we leave this to the reader to decide, that our work has attained over the years enough substance in order to justify a book. The problem which we soon faced, was that the field still is moving at a fast pace, for instance because hyper sonic computation problems became more and more important.
Author : Truman F. Bewley
Publisher : Cambridge University Press
ISBN 13 : 9780521467254
Total Pages : 276 pages
Book Rating : 4.4/5 (672 download)
Download or read book Advances in Econometrics: Volume 2 written by Truman F. Bewley and published by Cambridge University Press. This book was released on 1994-11-25 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: With its focus on econometrics, this second volume contains key papers delivered at the Fifth World Congress in 1985.
Author : Hollis Burnley Chenery
Publisher : Elsevier
ISBN 13 : 9780444823014
Total Pages : 784 pages
Book Rating : 4.8/5 (23 download)
Download or read book Handbook of Development Economics written by Hollis Burnley Chenery and published by Elsevier. This book was released on 1988 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbooks of development economics/ edit. Chenery.-v.1.
Author : Camillo De Lellis
Publisher : Princeton University Press
ISBN 13 : 0691257841
Total Pages : 149 pages
Book Rating : 4.6/5 (912 download)
Download or read book Instability and Non-uniqueness for the 2D Euler Equations, after M. Vishik written by Camillo De Lellis and published by Princeton University Press. This book was released on 2024-02-13 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential companion to M. Vishik’s groundbreaking work in fluid mechanics The incompressible Euler equations are a system of partial differential equations introduced by Leonhard Euler more than 250 years ago to describe the motion of an inviscid incompressible fluid. These equations can be derived from the classical conservations laws of mass and momentum under some very idealized assumptions. While they look simple compared to many other equations of mathematical physics, several fundamental mathematical questions about them are still unanswered. One is under which assumptions it can be rigorously proved that they determine the evolution of the fluid once we know its initial state and the forces acting on it. This book addresses a well-known case of this question in two space dimensions. Following the pioneering ideas of M. Vishik, the authors explain in detail the optimality of a celebrated theorem of V. Yudovich from the 1960s, which states that, in the vorticity formulation, the solution is unique if the initial vorticity and the acting force are bounded. In particular, the authors show that Yudovich’s theorem cannot be generalized to the L^p setting.
Author : Institute for Fiscal Studies (IFS)
Publisher : OUP Oxford
ISBN 13 : 0191564826
Total Pages : 1360 pages
Book Rating : 4.1/5 (915 download)
Download or read book Dimensions of Tax Design written by Institute for Fiscal Studies (IFS) and published by OUP Oxford. This book was released on 2010-04-30 with total page 1360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goal of the Mirrlees Review has been to identify what makes a good tax system for an open developed economy in the 21st century and to suggest how the UK tax system could be reformed to move in that direction. As an integral part of the Review, this volume brings together thirteen studies of different dimensions of tax design, plus associated commentaries. These were commissioned from IFS researchers and other international experts, to be of interest and value in their own right, as well as to provide inspiration for the final report of the Review, which is published as a separate volume, Tax by Design. The Commission's work was directed by: Tim Besley Richard Blundell Malcolm Gammie James Poterba The Commission's editorial team: Stuart Adam Stephen Bond Robert Chote Paul Johnson Gareth Myles
Download or read book Monthly Catalog of United States Government Publications written by and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : J. A. Molina
Publisher : Springer Science & Business Media
ISBN 13 : 1441994319
Total Pages : 195 pages
Book Rating : 4.4/5 (419 download)
Download or read book Household Economic Behaviors written by J. A. Molina and published by Springer Science & Business Media. This book was released on 2011-08-31 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Significant recent changes in the structure and composition of households make the study of the economic relationships within the household of particular interest for academics and policy-makers. In this context, Household Economic Behaviors, through its focus on theoretical and empirical chapters on a range of economic behaviors within the household, provides a new and timely viewpoint. Following the Introduction and one or two surveys which give a general background, the volume includes theoretical and empirical perspectives on allocation of available time within the household, monetary and non-monetary transfers between household members, and intra-household bargaining.
Author :
Publisher : Springer
ISBN 13 : 1349588024
Total Pages : 7493 pages
Book Rating : 4.3/5 (495 download)
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
