Results 151 to 160 of about 2,719 (189)

Solving Stochastic Climate‐Economy Models: A Deep Least‐Squares Monte Carlo Approach

open access: yesMathematical Finance, EarlyView.
ABSTRACT Stochastic versions of recursive integrated climate‐economy assessment models are essential for studying and quantifying policy decisions under uncertainty. However, as the number of state variables and stochastic shocks increases, solving these models via deterministic grid‐based dynamic programming (e.g., value‐function iteration/projection ...
Aleksandar Arandjelović   +4 more
wiley   +1 more source

Too Much Finance: Mechanisms That Harm Growth and Policy Implications

open access: yesThe Manchester School, EarlyView.
ABSTRACT The mechanisms for the financial sector to harm growth arise through short‐termism of financial markets. This leads to the misallocation of resources in the private sector, leading to financial crises and damage to growth. However, harm to growth comes not only from financial crises, but also from the failure of short‐termist financial markets
Arup Daripa   +2 more
wiley   +1 more source

How Are “Financial Balances” Financed? Wicksell, (Keynes) and the US Mainstream Don't Fit Today's Institutions; Kalecki, Triffin, and Minsky Got it Right

open access: yesMetroeconomica, EarlyView.
ABSTRACT The paper examines the financial balances of the US economy. Government is the main borrower and households and the foreign sector the main lenders. Business net lending is minimal. The balances and their underlying transactions contradict the loanable funds theory and its “global savings glut” variation.
Michalis Nikiforos, Lance Taylor
wiley   +1 more source

Contractionary Effects of Devaluation and the Balance Sheet Effect in a Macroeconomic Model With Heterogeneous Firms

open access: yesMetroeconomica, EarlyView.
ABSTRACT We propose a demand‐led heterogeneous firm macroeconomic model to study the impact of an exchange rate devaluation on output and financial stability. We simulate the model and find that, in the presence of foreign debt, a devaluation can have contractionary effects.
Lucca Gustafson Rodrigues   +2 more
wiley   +1 more source

Hirota, Fay and geometry. [PDF]

open access: yesLett Math Phys
Eynard B, Oukassi S.
europepmc   +1 more source

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