Results 41 to 44 of about 72,906 (44)
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Asymmetric Reciprocity and the Cyclical Behavior of Wages, Effort, and Job Creation
American Economic Journal: MacroeconomicsThis paper develops a search and matching framework in which workers are characterized by asymmetric reference-dependent reciprocity and firms set wages by considering the effect that these can have on workers’ effort and, therefore, on output.
Marco Fongoni
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The Ends of 27 Big Depressions
The American Economic ReviewHow did countries recover from the Great Depression? In this paper, we explore the argument that leaving the gold standard helped by boosting inflationary expectations, lowering real interest rates, and stimulating interest-sensitive expenditures.
Martin Ellison +2 more
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A Unified Model of Learning to Forecast
American Economic Journal: MacroeconomicsWe propose a model of boundedly rational and heterogeneous expectations that unifies adaptive learning, k-level reasoning, and replicator dynamics. Level-0 forecasts evolve over time via adaptive learning. Agents revise over time their depth of reasoning
George W. Evans +2 more
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Credit Supply Shocks and Prices: Evidence from Danish Firms
American Economic Journal: MacroeconomicsWe study the response of firms’ output prices to a cut in credit supply. We combine data on loans between Danish firms and banks with survey-based producer prices and transaction-based export unit values.
Tobias Renkin, Gabriel Züllig
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