Limited information capacity as a source of inertia
Article Abstract:
The basic idea from Information Theory, like time-dependent adjustment rule, is tried to embed into an economically interesting decision problem. The optimal inertia is unresponsive to and nonmonotonic in the predictability of the environment as the cost-effect moderates the benefit-effect on the value of information.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
Estimation of a generalized random-effects model: some ECME algorithms and Monte Carlo evidence
Article Abstract:
The derivation of ECME algorithms for computing maximum-likelihood estimates of a generalized random-effects model is carried out with an autoregressive remainder term. In effect, various estimators are compared with Monte Carlo experiments.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
Calculating short-run adjustments: sensitivity to non-linearities in a representative agent framework
Article Abstract:
The magnitudes of errors that come about as a result of using a linear approximation to a well-known representative model are examined. This is done by employing a calibrated version of the Matsuyama model of a small open economy.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Profitable informed trading in a simple general equilibrium model of asset pricing. Trading, communications and the response of asset prices to news
- Abstracts: Infomation and volatility linkages in the stock, bond, and money markets. On the relationship between the conditional mean and volatility of stock returns: a latent VAR approach
- Abstracts: An empirical investigation of paradoxes: reswitching and reverse capital deepening in capital theory
- Abstracts: Using electoral cycles in police hiring to estimate the effect of police on crime. White-collar crime writ small: a case study of bagels, donuts, and the honor system
- Abstracts: The evolution of retirement: summary of a research project. The unequal work day: a long term view. The rising price of nonmarket goods