Results 171 to 180 of about 2,083,765 (305)

An Estimate of the Elasticity of Intertemporal Substitution in a Production Economy [PDF]

The elasticity of intertemporal substitution (EIS) at the macro level has been estimated mostly based on endowment economy models and these estimates are very sensitive to the choice of interest rates that are used for estimation.
Taiji Harashima
core  

Bank Opacity and Safe Asset Moneyness

Journal of Money, Credit and Banking, EarlyView.
Abstract A bank is more effective as a supplier of money‐like safe assets when (i) its return on equity (ROE) is relatively lower and (ii) it is relatively more opaque about its balance sheet. A model is presented to support this, emphasizing that safe asset investors focus on the left tail of the collateral value distribution.
SANG RAE KIM
wiley   +1 more source

Framing in choice task [PDF]

The direction of speed-up - delay effect is reversed in elicitation with choice task in MPL format. The model of intertemporal choice with reference point cannot explain this reversal.
Oksana Tokarchuk
core  

Financial Fragility and the Fiscal Multiplier

Journal of Money, Credit and Banking, EarlyView.
Abstract We show that undercapitalized banks with large holdings of government bonds subject to sovereign default risk lead to a new crowding‐out channel: deficit‐financed fiscal stimuli lead to higher bond yields, triggering capital losses for the banks. Banks then cut back loans, which reduces fiscal multipliers.
CHRISTIAAN VAN DER KWAAK, SWEDER VAN WIJNBERGEN   +1 more
wiley   +1 more source

Working Memory Depletion Affects Intertemporal Choice Among Internet Addicts and Healthy Controls. [PDF]

Front Psychol, 2021
Li H.
europepmc   +1 more source

Non-linear error correction, asymmetric adjustment and cointegration. [PDF]

This article links the intertemporal choice model with the non-linear error correction (NEC) model. It has three main components. First, it outlines a model of non-linear error correction, in which the linear error correction term ?Xt (the vector time ...
Escribano, Álvaro, Pfann, Gerard
core  

Monetary Policy When Preferences Are Quasi‐Hyperbolic

Journal of Money, Credit and Banking, EarlyView.
Abstract We study discretionary monetary policy in an economy where economic agents have quasi‐hyperbolic discounting. We demonstrate that a benevolent central bank is able to keep inflation under control for a wide range of discount factors. If the central bank, however, does not adopt the household's time preferences and tries to discourage early ...
RICHARD DENNIS, OLEG KIRSANOV
wiley   +1 more source

A Quantized Representation of Intertemporal Choice in the Brain. [PDF]

IEEE Trans Mol Biol Multiscale Commun, 2021
Tee J, Taylor DP.
europepmc   +1 more source

Heterogeneity in Imperfect Inflation Expectations: Theory and Evidence from a Novel Survey

Journal of Money, Credit and Banking, EarlyView.
Abstract Using survey data from Germany, we study heterogeneity in how households form inflation expectations. We elicit (i) uncertainty in perceptions of current inflation and (ii) how persistent households perceive inflation to be. Combining these with standard survey questions on inflation, we infer laws of motion for expectations at the individual ...
ALISTAIR MACAULAY, JAMES MOBERLY
wiley   +1 more source

Taylor Rule Deviations Across Horizons: A Practical Tool for Monetary Policy

Journal of Money, Credit and Banking, EarlyView.
Abstract We propose “Taylor rule yields” across horizons for the United States. Applying the standard Taylor rule to expected paths of inflation and the output gap, we construct a sequence of short‐term rates under neutral monetary policy stances, whose average defines the Taylor rule yield at each horizon.
MASAZUMI HATTORI, TOMOHIDE MINEYAMA, JOUCHI NAKAJIMA   +2 more
wiley   +1 more source