equilibrium
RSS equilibriumSocial Effects, Household Time Allocation, and the Decline in Union Formation
White Paper This paper theoretically develops a stylized partial equilibrium model of union formation in which social effects influence individual decisions to enter a union. Economic theories of the household and the marriage... [24 Jun 2005]
Temporary Partial Expensing in a General-Equilibrium Model
White Paper In recent years, the use of forward-looking general-equilibrium models to analyze the conduct of monetary policy has become a commonplace of the macroeconomics literature. By contrast, considerably less progress has been... [22 Jun 2005]
Calculating and Using Second Order Accurate Solutions of Discrete Time Dynamic Equilibrium Models
White Paper This paper describes an algorithm for calculating second order approximations to the solutions to nonlinear stochastic rational expectations models. The paper also explains methods for using such an approximate solution to generate... [22 Jun 2005]
Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation
White Paper This paper studies an international tax policy design problem by employing a two-country dynamic general equilibrium model with incomplete asset markets. The paper investigates the possibility of welfare-improving active... [22 Jun 2005]
Sticky Prices, Coordination and Enforcement
White Paper In response to a monetary policy shock, individual agents may lack incentives to change prices even if all would be better off by doing so, implying that price stickiness is a symmetric Nash equilibrium (SNE). [22 Jun 2005]
Capital-Skill Complementarity and the Redistributive Effects of Social Security Reform
White Paper This paper analyses the general equilibrium implications of reforming pay-as-you-go pension systems in an economy with heterogeneous agents, human capital investment and capital-skill complementarity. [31 May 2005]
Human Capital and Cross-Country Comparison of Inequality
White Paper The paper explores several types of cross-country variations in the production of human capital, some attributed to 'home-education' and others related to 'public-education', and their effect upon intragenerational income inequality and... [31 May 2005]
Growing Old Together: Firm Survival and Employee Turnover
White Paper The paper describes a dynamic general equilibrium model where workers employed in firms more likely to survive choose to devote more time to productivity-enhancing activities, and therefore have a steeper earnings-tenure... [31 May 2005]
Human Capital Accumulation, Education Policy and Wage Dispersion
White Paper This paper builds a general equilibrium OLG model of labor earnings and endogenous human capital (HC) accumulation, allowing for agents' heterogeneity in both ability and uninsurable idiosyncratic shocks, and verifies... [25 May 2005]
Learning to Trust Lula: Contagion and Political Risk in Brazil
White Paper In this paper, the high Brazilian country risk in 2002 and the Sudden Stop in capital flows is interpreted as reflecting "political equilibrium" in a context where, for the first time, a charismatic Left-wing leader had... [25 May 2005]
Big Push Industrialization: Some Empirical Evidence for East Asia and Eastern Europe
White Paper They also suggest that government policy may have played a role in moving an economy from a "bad" to a "good" equilibrium. This paper examines some testable implications of growth theories based on threshold... [25 May 2005]
Implications of Habit Formation for Optimal Monetary Policy
White Paper This paper studies the implication for optimal monetary policy of introducing habit formation in consumption into a general equilibrium model with stick prices. Habit formation affects the model's endogenous dynamics... [20 May 2005]
E-Learning: A Way to Solve the Human Capital Bootstrapping Problem in Transitional Economies in Central Europe?
White Paper This paper proposes a general equilibrium model of endogenous growth in which human capital investment is the engine of growth. Within that model the potential role of e-learning is analyzed in the elimination of the... [20 May 2005]
Learning From Failed Strategies
White Paper How can organizations overcome strategic equilibrium? Success is transient, and sustained superior performance can be claimed by just a few companies. Strategy deals with achieving sustained superior performance with an... [26 Apr 2005]
Auction Algorithms for Market Equilibrium
White Paper This paper studies algorithms for computing market equilibrium in markets with linear utility functions. The market equilibrium problem is to compute a price vector, which ensures market clearing. The... [12 Apr 2005]
