Skip to main navigation Skip to main content
info(at)avldigital.remove-this.de
Deutsch English
Last searches

Results for *

Displaying results 1 to 3 of 3.

  1. Inflation targeting under imperfect knowledge
    Author: Orphanides, Athanasios; Williams, John C.
    Published: 2006
    Publisher:  Div. of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, DC

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 966 (2006.20)
    Inter-library loan:
    Unlimited inter-library loan, copies and loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Finance and economics discussion series ; 2006-20
    Subjects: Inflationssteuerung; Lernprozess; Natürliche Arbeitslosenquote; Rationale Erwartung; Geldpolitik; Regelbindung versus Diskretion; USA
    Other subjects: Array
    Scope: 46 S., graph. Darst.
    Notes:
  2. Data uncertainty and the role of money as an information variable for monetary policy
    Author: Coenen, Günter; Levin, Andrew T.; Wieland, Volker
    Published: 2001
    Publisher:  Europ. Central Bank, Frankfurt am Main

    Export to reference management software   RIS file
      BibTeX file
    Content information
  3. A Bayesian model of knightian uncertainty
    Author: Najjar, Nabil I. al-; Weinstein, Jonathan
    Published: 2013
    Publisher:  Inst. für Höhere Studien (IHS), Wien

    A long tradition suggests a fundamental distinction between situations of risk, where true objective probabilities are known, and unmeasurable uncertainties where no such probabilities are given. This distinction can be captured in a Bayesian model... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 1312 (300)
    Inter-library loan:
    Unlimited inter-library loan, copies and loan

     

    A long tradition suggests a fundamental distinction between situations of risk, where true objective probabilities are known, and unmeasurable uncertainties where no such probabilities are given. This distinction can be captured in a Bayesian model where uncertainty is represented by the agent's subjective belief over the parameter governing future income streams. Whether uncertainty reduces to ordinary risk depends on the agent's ability to smooth consumption. Uncertainty can have a major behavioral and economic impact, including precautionary behavior that may appear overly conservative to an outside observer. We argue that one of the main characteristics of uncertain beliefs is that they are not empirical, in the sense that they cannot be objectively tested to determine whether they are right or wrong. This can confound empirical methods that assume rational expectations.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Reihe Ökonomie ; 300
    Subjects: Haushaltseinkommen; Konsumentenverhalten; Entscheidung unter Unsicherheit; Rationale Erwartung; Bayes-Statistik; Theorie; Knightian uncertainty; consumption smoothing; uncertainty premium; rational expectations
    Scope: 28 S., graph. Darst., 30 cm
    Notes:

    Parallel als Online-Ausg. erschienen