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  • EUV Frankfurt  (7)
  • Domstiftsarchiv
  • Jüdische Gemeinde
  • Müncheberg Dt. Entomologisches Institut
  • Stadtmuseum Berlin
  • Alvarez, Fernando  (7)
  • 1
    Buch
    Buch
    General equilibrium analysis of the Eaton-Kortum model of international trade (2005)
    Cambridge, Mass. : National Bureau of Economic Research
    Details
    UID:
    b3kat_BV021583100
    Umfang: 63, [11] S. , graph. Darst.
    Serie: National Bureau of Economic Research 〈Cambridge, Mass.〉: NBER working paper series 11764
    Inhalt: We study a variation of the Eaton-Kortum model, a competitive, constant-returns-to-scale multicountry Ricardian model of trade. We establish existence and uniqueness of an equilibrium with balanced trade where each country imposes an import tariff. We analyze the determinants of the cross-country distribution of trade volumes, such as size, tariffs and distance, and compare a calibrated version of the model with data for the largest 60 economies. We use the calibrated model to estimate the gains of a world-wide trade elimination of tariffs, using the theory to explain the magnitude of the gains as well as the differential effect arising from cross-country differences in pre-liberalization of tariffs levels and country size.
    Anmerkung: Literaturverz. S. 54 - 56
    Weitere Ausg.: Erscheint auch als Internetausgabe
    Sprache: Englisch
    Fachgebiete: Wirtschaftswissenschaften
    RVK:
    QB 910
    URL: Volltext  (kostenfrei)
    Mehr zum Autor: Lucas, Robert E. 1937-2023
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 2
    Buch
    Buch
    Asset pricing when risk sharing is limited by default (1998)
    Cambridge, Mass.
    Details
    UID:
    b3kat_BV011956493
    Umfang: 68 S. , graph. Darst.
    Serie: National Bureau of Economic Research 〈Cambridge, Mass.〉: NBER working paper series 6476
    Inhalt: We study the asset pricing implications of a multi-agent endowment economy where agents can default on contracts that would leave them otherwise worse off. We specialize and extend the environment studied by Kocherlakota (1995) and Kehoe and Levine (1993) to make it comparable to standard studies of asset pricing. We make contributions along two fronts. First, we extend the characterization of efficient allocations. Second, we present an equilibrium concept with complete markets and with endogenous solvency constraints. These solvency constraints are such as to prevent default at the cost of reduced risk sharing. We show a version of the classical welfare theorems for this equilibrium definition. We characterize the pricing kernel, and compare it to the one for economies without participation constraints: interest rates are lower and risk premia can be bigger depending on the covariance of the idiosyncratic and aggregate shocks. We show that those agents whose endowment is very similar to the aggregate endowment are irrelevant for asset pricing. In a quantitative example, for reasonable parameter values, the relevant marginal rates of substitution fall within the Hansen-Jagannathan bounds.
    Weitere Ausg.: Erscheint auch als Online-Ausgabe
    Sprache: Englisch
    URL: Volltext  (kostenfrei)
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  • 3
    Buch
    Buch
    Money and interest rates with endogeneously segmented markets (1999)
    Cambridge, Mass. : National Bureau of Economic Research
    Details
    UID:
    b3kat_BV012639124
    Umfang: 35, [1] S. , graph. Darst.
    Serie: National Bureau of Economic Research 〈Cambridge, Mass.〉: NBER working paper series 7060
    Inhalt: This paper analyses the effects of open market operations on interest rates in a model in which agents must pay a fixed cost to exchange assets and cash. Asset markets are endogenously segmented in that some agents choose to pay the fixed cost and some do not. When the fixed cost is zero, the model reduces to the standard one in which persistent money injections increase interest rates, flatten the yield curve, and lead to a downward-sloping yield curve on average. In contrast sufficiently segmented, then persistent money injections decrease nominal interest rates, steepen or even twist the yield curve, and lead to an upward-sloping yield curve on average.
    Weitere Ausg.: Erscheint auch als Online-Ausgabe
    Sprache: Englisch
    Fachgebiete: Wirtschaftswissenschaften
    RVK:
    QB 910
    URL: Volltext  (kostenfrei)
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  • 4
    Buch
    Buch
    Quantitative asset pricing implications of endogenous solvency constraints (1999)
    Cambridge, Mass.
    Details
    UID:
    b3kat_BV012667342
    Umfang: 63 S. , graph. Darst.
    Serie: National Bureau of Economic Research 〈Cambridge, Mass.〉: NBER working paper series 6953
    Inhalt: This paper examines the long-term effects of early test scores using data from the British National Child Development Survey. We show that test scores measured as early as age 7 have significant effects on future educational and labor market outcomes. For example, men and women in the lowest quartile of the reading test score distribution have wages 20% lower at age 33 than those who scored in the highest quartile. We test several hypotheses about the interactions between socioeconomic status and high or low test scores at age 7. In terms of test scores, educational attainments, and employment at age 33, low-SES children reap both larger gains from having high age 7 test scores and smaller losses from having low age 7 test scores. The opposite is true among high-SES children who suffer larger losses from low scores and smaller gains from high scores. However we find little evidence of comparable interactive effects for wages.
    Weitere Ausg.: Erscheint auch als Online-Ausgabe
    Sprache: Englisch
    Fachgebiete: Wirtschaftswissenschaften
    RVK:
    QB 910
    URL: Volltext  (kostenfrei)
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  • 5
    Buch
    Buch
    On the sluggish response of prices to money in an inventory-theoretic model of money demand (2003)
    Cambridge, Mass. : National Bureau of Economic Research
    Details
    UID:
    b3kat_BV023590319
    Umfang: 33, [12] S. , graph, Darst. , 22 cm
    Serie: Working paper series / National Bureau of Economic Research 10016
    Inhalt: We exposit the link between money, velocity and prices in an inventory-theoretic model of the demand for money and explore the extent to which such a model can account for the short-run volatility of velocity, the negative correlation of velocity and the ratio of money to consumption, and the resulting stickiness' of the aggregate price level relative to a benchmark model with constant velocity. We find that an inventory-theoretic model of the demand for money is a natural framework for understanding these aspects of the dynamics of money, velocity and prices in the short run.
    Weitere Ausg.: Erscheint auch als Online-Ausgabe
    Sprache: Englisch
    URL: Volltext  (kostenfrei)
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  • 6
    Buch
    Buch
    Search and rest unemployment (2008)
    Cambridge, Mass. : National Bureau of Economic Research
    Details
    UID:
    b3kat_BV023593663
    Umfang: 51 S. , graph. Darst. , 22 cm
    Serie: Working paper series / National Bureau of Economic Research 13772
    Weitere Ausg.: Erscheint auch als Online-Ausgabe
    Sprache: Englisch
    URL: Volltext  (kostenfrei)
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  • 7
    Buch
    Buch
    Fixed-term employment contracts in an equilibrium search model (2006)
    Cambridge, Mass. : National Bureau of Economic Research
    Details
    UID:
    b3kat_BV023592712
    Umfang: 37, XXXIV S. , graph. Darst. , 22 cm
    Serie: Working paper series / National Bureau of Economic Research 12791
    Inhalt: Fixed-term employment contracts have been introduced in number of European countries as a way to provide flexibility to economies with high employment protection levels. We introduce these contracts into the equilibrium search model in Alvarez and Veracierto (1999), a version of the Lucas and Prescott island model, adapted to have undirected search and variable labor force participation. We model a contract of length J as a tax on separations of workers with tenure higher than J. We show a version of the welfare theorems, and characterize the efficient allocations. This requires solving a control problem, whose solution is characterized by two dimensional inaction sets. For J=1 these contracts are equivalent to the case of firing taxes, and for large J they are equivalent to the laissez-faire case. In a calibrated verion of the model, we find that temporary contracts with J equivalent to three years length close about half of the gap between those two extremes.
    Anmerkung: Literaturverz. S. 36 - 37
    Weitere Ausg.: Erscheint auch als Online-Ausgabe
    Sprache: Englisch
    URL: Volltext  (kostenfrei)
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