Now showing items 58-77 of 83 starting with R

    • R&D cyclicality and composition effects : a unifying approach 

      Chernyshev, Nikolay (2017-09-27) - Working or discussion paper
      Existing empirical studies do not concur on whether R&D spending is procyclical or countercyclical: the former hypothesis is supported by studies of aggregate R&D spending, whereas the latter is vindicated by firm-level ...
    • Rationally inattentive preferences and hidden information costs 

      de Oliveira, Henrique; Denti, Tommaso; Mihm, Maximilian; Ozbek, Kemal (2017-05-26) - Journal article
      We show how information acquisition costs can be identified using observable choice data. Identifying information costs from behavior is especially relevant when these costs depend on factors–such as time, effort and ...
    • Relative equity market valuation conditions and acquirers’ gains 

      Barbopoulos, Leonidas; Andriosopoulos, Dimitris (2017-10) - Journal article
      We examine whether the relative equity market valuation conditions (EMVCs) in the countries of merging firms help acquirers’ managers to time the announcements of both domestic and foreign targets. After controlling for ...
    • Renormalization method and its economic applications 

      Briec, Walter; Lasselle, Laurence (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      The purpose of this paper is to give new insights of the method of Helleman (1980) in the context of macrodynamics. This method explains how a difference equation can be locally studied from the Feigenbaum equation in ...
    • Representing a democratic constituency in negotiations : delegation versus ratification 

      Cardona, D.; Ponsatí, C. (2015) - Journal article
      We consider negotiations where one of the parties is a group that must send a representative to the bargaining table. We examine the trade-offs that the group faces in choosing between two different regimes for this ...
    • Revisiting the optimal linear income tax with categorical transfers 

      Slack, Sean Edward (2015-09) - Journal article
      When individuals differ in both productivity and some categorical attribute, optimal linear/piecewise-linear tax expressions are written to capture cases where it is suboptimal to eliminate inequality in the average social ...
    • Satisficing choice procedures 

      Papi, Mauro (2012-09) - Journal article
      Standard choice theory assumes that the budget set is known to the decision-maker in advance. In contrast, we develop a model in which alternatives are examined sequentially and decision-makers exhibit `satisficing' ...
    • Sequential action and beliefs under partially observable DSGE environments 

      Kim, Seong-Hoon (2012) - Journal article
      This paper introduces a classification of DSGEs from a Markovian perspective, and positions the class of POMDP (Partially Observable Markov Decision Process) to the center of a generalization of linear rational expectations ...
    • Size invariant measures of association : characterization and difficulties 

      Negri, Margherita; Sprumont, Yves (2015-05) - Journal article
      A measure of association on cross-classification tables is row-size invariant if it is unaffected by the multiplication of all entries in a row by the same positive number. It is class-size invariant if it is unaffected ...
    • Social groups and credit shocks : evidence of inequalities in consumption smoothing 

      Saxena, Vibhor; Bindal, Ishaan; LeMay-Boucher, Philippe (University of St Andrews, 2019-01-31) - Working or discussion paper
      A strand of research holds the view that restricting access to credit to regulate over-borrowing can worsen consumers’ financial condition. Another strand of research holds the view that access to credit in the developing ...
    • Solving asset pricing models with stochastic volatility 

      de Groot, Oliver (2015-03) - Journal article
      This paper provides a closed-form solution for the price-dividend ratio in a standard asset pricing model with stochastic volatility. The growth rate of the endowment is a first-order Gaussian autoregression, while the ...
    • Spatial takeoff in the first industrial revolution 

      Trew, Alex William (University of St Andrews, 2014-01) - Working or discussion paper
      Using the framework of Desmet and Rossi-Hansberg (forthcoming), we present a model of spatial takeoff that is calibrated using spatially-disaggregated occupational data for England in c.1710. The model predicts changes in ...
    • Stabilization and commitment : forward guidance in economies with rational expectations 

      Hughes Hallett, Andrew; Acocella, Nicola (2018-01) - Journal article
      We construct a theory of forward guidance in economic policy making in order to provide a framework for explaining the role and strategic advantages of including forward guidance as an explicit part of policy design. We ...
    • State dependent choice 

      Manzini, Paola; Mariotti, Marco (2015-09) - Journal article
      We propose a theory of choices that are influenced by the psychological state of the agent. The central hypothesis is that the psychological state controls the urgency of the attributes sought by the decision maker in the ...
    • Subjective well-being, peer comparisons and optimal income taxation 

      Ulph, David; Slack, Sean Edward (University of St Andrews, 2016-11-23) - Working or discussion paper
      Empirical evidence suggests that an important determinant of subjective well-being is how an individual’s consumption compares with that of their immediate peers. We introduce peer comparisons into the standard optimal tax ...
    • Taxation, unemployment and working time in models of economic growth 

      FitzRoy, Felix; Funke, Michael; Nolan, Michael A. (School of Economics and Finance, University of St Andrews., 2001-08) - Working or discussion paper
      This paper combines collective bargaining over wages and working time with models of endogenous and neoclassical growth. Public expenditure is funded by taxes on capital and labour supplied by infinitely-lived households ...
    • A time varying DSGE model with financial frictions 

      Galvão, Ana Beatriz; Giraitis, Liudas; Kapetanios, George; Petrova, Katerina (2016-09-02) - Journal article
      We build a time varying DSGE model with financial frictions in order to evaluate changes in the responses of the macroeconomy to financial friction shocks. Using U.S. data, we find that the transmission of the financial ...
    • The timing of asset trade and optimal policy in dynamic open economies 

      Senay, Ozge; Sutherland, Alan (2013-12) - Journal article
      Using a standard open economy DSGE model, it is shown that the timing of asset trade relative to policy decisions has a potentially important impact on the welfare evaluation of monetary policy at the individual country ...
    • Transaction costs and institutions : investments in exchange 

      Nolan, Charles; Trew, Alex William (2015) - Journal article
      This paper proposes a simple model for understanding transaction costs – their composition, size and policy implications. We distinguish between investments in institutions that facilitate exchange and the cost of conducting ...
    • Uncertainty shocks in a model of effective demand : comment 

      de Groot, Oliver; Richter, Alexander W.; Throckmorton, Nathaniel A. (2018-08-02) - Journal article
      Basu and Bundick, 2017 showed an intertemporal preference volatility shock has meaningful effects on real activity in a New Keynesian model with Epstein and Zin, 1991 preferences. We show that when the distributional weights ...