Browsing Department of Economics by Subject "JEL Classification Number: E32"

Now showing items 1-5 of 5

    • Learning, Adaptive Expectations, and Technology Shocks' 
      Huang, Kevin X.D.; Liu, Zheng; Zha, Tao (Vanderbilt University, 2008)
      This study explores theoretical and macroeconomic implications of the self-confirming equilibrium in a standard growth model. When rational expectations are replaced by adaptive expectations, we prove that the self-confirming ...
    • Living with a Monetary System infected by Bubbles 
      Eden, Benjamin (Vanderbilt University, 2011)
      I study the real effects of bubbles in a price-settingenvironment. Bubbles cause price dispersion and overinvestment in assets that are overvalued. And when they pop some goods are not sold and capacity is not fully utilized. ...
    • Political Devolution without Fiscal Devolution 
      Hallett, Andrew Hughes (Vanderbilt University, 2005)
      Using a conventional model, this paper examines the conditions under which it is possible to stabilise both the output (inflation) cycle and the budget deficit/surplus of a regional economy in a wider currency union. We ...
    • Propagation Through Endogenous Investment-Specific Technological Change 
      Huffman, Gregory W. (Vanderbilt University, 2002)
      Many real business cycle models lack a significant propagation mechanism. Consequently most of the serial correlation in output is inherited from the serial correlation in the exogenous shocks. A simple model is presented ...
    • What Are the Driving Forces of International Business Cycles? 
      Crucini, Mario J.; Kose, M. Ayhan; Otrok, Christropher (Vanderbilt University, 2008)
      We examine the driving forces of G-7 business cycles. We decompose national business cycles into common and nation-specific components using a dynamic factor model. We also do this for driving variables found in business ...