منابع مشابه
Federal Reserve Bank of
This paper develops recursive methods for considering stationary sequential equilibria in games with private actions and signals (private monitoring games), where play is assumed not only to continue forever into the future, but is also assumed to have occurred forever into the past. In particular, we develop set-based methods for constructing all pure strategy equilibria of the subclass of str...
متن کاملFederal Reserve Board
Beaudry and Portier (2006) propose an identification scheme to study the effects of news shocks about future productivity in Vector Error Correction Models (VECM). This comment shows that their methodology does not have a unique solution, when applied to their VECMs with more than two variables. The problem arises from the interplay of cointegration assumptions and long-run restrictions imposed...
متن کاملFederal Reserve Bank of Philadelphia
We examine the effects of changes in competitive conditions on the structure of loan contracts. In particular, we present conditions in which greater loan market competition reduces the stringency of contractual collateral requirements, a prediction that is consistent with anecdotal evidence from loan markets. We also analyze the interaction between the degree of competition and the efficiency ...
متن کاملFederal Reserve Bank of Cleveland
Materials may be reprinted if the source is credited. Please send copies of reprinted materials to the editor. We invite questions, comments, and suggestions. Recent attention has turned from unemployment levels to wage growth as an indicator of imminent inflation. But is there any evidence to support the assumption that increased wages cause inflation? This study updates and expands earlier re...
متن کاملFederal Reserve Bank of Minneapolis
This paper argues that both inequality of opportunity and social mobility are necessary implications of an efficient, or optimal, societal arrangement when incentives must be provided. ∗The author thanks Marco Bassetto, V.V. Chari, Narayana Kocherlakota, and Aleh Tsyvinski for helpful comments. The views expressed herein are those of the author and not necessarily those of the Federal Reserve B...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Journal of Finance
سال: 1961
ISSN: 0022-1082
DOI: 10.2307/2977355