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Displaying results 1 to 6 of 6.

  1. Indeterminacy and imperfect information
    Author: Lubik, Thomas A.; Matthes, Christian; Mertens, Elmar
    Published: 2019
    Publisher:  The Federal Reserve Bank of Richmond, Richmond

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 384
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Working paper series / The Federal Reserve Bank of Richmond ; WP 19, 17
    Subjects: Limited information; rational expectations; Kalman filter; belief shocks
    Scope: 1 Online-Ressource (circa 62 Seiten), Illustrationen
  2. Unemployment dynamics and endogenous unemployment insurance extensions
    Author: Rujiwattanapong, W. Similan
    Published: [2019]
    Publisher:  CFM, Centre for Macroeconomics, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 637
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: CFM discussion paper series ; CFM-DP 2019, 09 (May 2019)
    Subjects: Business cycles; long-term unemployment; unemployment insurance; unemployment duration; rational expectations
    Scope: 1 Online-Ressource (circa 57 Seiten), Illustrationen
  3. Mr. Taylor and the Central Bank
    two inference exercises
    Author: Luna, Francesco
    Published: 2019
    Publisher:  International Monetary Fund, [Washington, DC]

    Many observers argue that the world has changed after the latest financial crisis. If that is the case, monetary policy and the process informing it will have to be reconsidered and 'learned' anew by all stakeholders. Perhaps, a new Taylor rule will... more

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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
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    Many observers argue that the world has changed after the latest financial crisis. If that is the case, monetary policy and the process informing it will have to be reconsidered and 'learned' anew by all stakeholders. Perhaps, a new Taylor rule will emerge. A 'Taylor rule' is predicated upon two successful inference exercises: one by the researcher who is interested in identifying the Central Bank's behavior and one by the Central Bank, which tries to infer how the economy works and interacts with its monetary policy interventions. Because of certain granularities imposed by institutional arrangements and the need for transparent communication in policy making, this paper proposes an analytical framework based on computability theory to model these inference exercises and to assess their general possibility of success. So, is it possible to infer/learn the central bank's policy rule? The answer is a qualified positive and depends on the 'complexity' of the economy and on the quality of information. As for policy implications, the results show that transparency and understandable 'reaction functions' will go a long way in fostering learnability

     
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  4. Predictability concentrates in bad times
    and so does disagreement
    Author: Souza, Thiago de Oliveira
    Published: 2019
    Publisher:  University of Southern Denmark, Odense

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 571
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion papers on business and economics ; no. 2019, 8
    Subjects: Predictability; bad times; efficient market hypothesis; disagreement; rational expectations
    Scope: 1 Online-Ressource (circa 27 Seiten)
  5. Aggregation of diverse information with double auction trading among minimally-intelligent algorithmic agents
    Author: Jamal, Karim; Maier, Michael S.; Sunder, Shyam
    Published: 2019
    Publisher:  Cowles Foundation for Research in Economics, Yale University, New Haven, Connecticut

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 29
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Cowles Foundation discussion paper ; no. 2182 (June 2019)
    Subjects: Algorithmic traders; rational expectations; Structural rationality; Means-end heuristic; Information aggregation; Zero-intelligence agents
    Scope: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  6. Mr. Taylor and the Central Bank
    two inference exercises
    Author: Luna, Francesco
    Published: 2019
    Publisher:  International Monetary Fund, [Washington, DC]

    Many observers argue that the world has changed after the latest financial crisis. If that is the case, monetary policy and the process informing it will have to be reconsidered and 'learned' anew by all stakeholders. Perhaps, a new Taylor rule will... more

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    Orient-Institut Beirut
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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
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    Universitätsbibliothek Braunschweig
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    Bibliothek der Pädagogischen Hochschule Freiburg/Breisgau
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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Technische Universität Hamburg, Universitätsbibliothek
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    Duale Hochschule Baden-Württemberg Heidenheim, Bibliothek
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    Thüringer Universitäts- und Landesbibliothek
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    Fachhochschule Kiel, Zentralbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Universitätsbibliothek Leipzig
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    Duale Hochschule Baden-Württemberg Mosbach, Bibliothek
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    E-Book Nationallizenz IMF
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    Hochschule Offenburg, University of Applied Sciences, Bibliothek Campus Offenburg
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    E-Book International Monetary Fund
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    Hochschulbibliothek Pforzheim, Bereichsbibliothek Technik und Wirtschaft
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    Hochschule Albstadt-Sigmaringen, Bibliothek Sigmaringen
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    Duale Hochschule Baden-Württemberg Villingen-Schwenningen, Bibliothek
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    Many observers argue that the world has changed after the latest financial crisis. If that is the case, monetary policy and the process informing it will have to be reconsidered and 'learned' anew by all stakeholders. Perhaps, a new Taylor rule will emerge. A 'Taylor rule' is predicated upon two successful inference exercises: one by the researcher who is interested in identifying the Central Bank's behavior and one by the Central Bank, which tries to infer how the economy works and interacts with its monetary policy interventions. Because of certain granularities imposed by institutional arrangements and the need for transparent communication in policy making, this paper proposes an analytical framework based on computability theory to model these inference exercises and to assess their general possibility of success. So, is it possible to infer/learn the central bank's policy rule? The answer is a qualified positive and depends on the 'complexity' of the economy and on the quality of information. As for policy implications, the results show that transparency and understandable 'reaction functions' will go a long way in fostering learnability

     
    Export to reference management software   RIS file
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