Search Results - "Marcet, Albert"

RECURSIVE CONTRACTS by Marcet, Albert, Marimon, Ramon

“…We obtain a recursive formulation for a general class of optimization problems with forward-looking constraints which often arise in economic dynamic models,…”
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Internal rationality, imperfect market knowledge and asset prices by Adam, Klaus, Marcet, Albert

“…We present a decision theoretic framework in which agents are learning about market behavior and that provides microfoundations for models of adaptive…”
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Optimal Taxation without State‐Contingent Debt by Aiyagari, S. Rao, Marcet, Albert, Sargent, Thomas J., Seppälä, Juha

“…In an economy studied by Lucas and Stokey, tax rates inherit the serial correlation structure of government expenditures, belying Barro’s earlier result that…”
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Stock Price Booms and Expected Capital Gains by Adam, Klaus, Marcet, Albert, Beutel, Johannes

“…Investors' subjective capital gains expectations are a key element explaining stock price fluctuations. Survey measures of these expectations display excessive…”
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Stock market volatility and learning by ADAM, KLAUS, MARCET, ALBERT, NICOLINI, JUAN PABLO

“…We show that consumption-based asset pricing models with time-separable preferences generate realistic amounts of stock price volatility if one allows for…”
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Optimal policy with general signal extraction by Hauk, Esther, Lanteri, Andrea, Marcet, Albert

“…•Policy decisions are usually taken with Partial Information about the economy.•The paper develops a condition to find the best policy in this case.•Our…”
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Government Debt Management: The Long and the Short of It by FARAGLIA, ELISA, MARCET, ALBERT, OIKONOMOU, RIGAS, SCOTT, ANDREW

“…Standard optimal Debt Management (DM) models prescribe a dominant role for long bonds and advocate against issuing short bonds. They require very large…”
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House Price Booms and the Current Account by Adam, Klaus, Kuang, Pei, Marcet, Albert

“…To study the relationship between house price movements, housing construction, consumption, and international borrowing, they generalize the closed economy…”
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Priors about observables in vector autoregressions by Jarociński, Marek, Marcet, Albert

“…Standard practice in Bayesian VARs is to formulate priors on the autoregressive parameters, but economists and policy makers actually have priors about the…”
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Can a financial transaction tax prevent stock price booms? by Adam, Klaus, Beutel, Johannes, Marcet, Albert, Merkel, Sebastian

“…We present a stock market model that quantitatively replicates the joint behavior of stock prices, trading volume and investor expectations. Stock prices in…”
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Solving the Stochastic Growth Model by Parameterizing Expectations by den Haan, Wouter J., Marcet, Albert

“…This article describes a method for solving the one-good stochastic growth model by parameterizing the expectations part of the stochastic Euler equation. The…”
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The Impact of Debt Levels and Debt Maturity on Inflation by Faraglia, Elisa, Marcet, Albert, Oikonomou, Rigas, Scott, Andrew

“…We examine the implications for optimal inflation of changes in the level and maturity of government debt under the assumption where fiscal and monetary…”
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Debt and deficit fluctuations and the structure of bond markets by Marcet, Albert, Scott, Andrew

“…We analyse the implications of optimal taxation for the stochastic behaviour of debt. We show that when a government pursues an optimal fiscal policy under…”
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Fiscal Insurance and Debt Management in OECD Economies by Faraglia, Elisa, Marcet, Albert, Scott, Andrew

“…Assuming the role of debt management is to provide hedging against fiscal shocks we consider: (i) what indicators can be used to assess the performance of debt…”
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Recurrent hyperinflations and learning by Marcet, Albert, Nicolini, Juan P

“…We use a model of boundedly rational learning to account for the observations of recurrent hyperinflations in the 1980's. In a standard monetary model we…”
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In search of a theory of debt management by Faraglia, Elisa, Marcet, Albert, Scott, Andrew

“…The complete market approach to government debt management argues that a portfolio of non-contingent bonds at different maturities should be chosen so that…”
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Supply Side Interventions and Redistribution by Garcia-Milà, Teresa, Marcet, Albert, Ventura, Eva

“…We evaluate the effect on welfare of shifting the burden of capital income taxes to labour taxes in a dynamic equilibrium model with heterogeneous agents and…”
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Incomplete markets, labor supply and capital accumulation by Marcet, Albert, Obiols-Homs, Francesc, Weil, Philippe

“…Endogenous labor supply decisions are introduced in an equilibrium model of limited insurance against idiosyncratic shocks. Unlike in the standard case with…”
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House Price Booms and the Current Account/Comment/Comment/Discussion by Adam, Klaus, Kuang, Pei, Marcet, Albert, Glaeser, Edward L, Hansen, Lars Peter

“…A simple open economy asset pricing model can account for the house price and current account dynamics in the G7 over the years 2001-2008. The model features…”
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Money and prices in models of bounded rationality in high-inflation economies by Marcet, Albert, Nicolini, Juan Pablo

“…This paper studies the short run correlation of inflation and money growth. We study whether a model of learning does better or worse than a model of rational…”
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