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Prescott, Edward C.
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- Alpha Creator Tesim:
- Mehra, Rajnish. and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 389
- Stichwort:
- Real interest rates, Debt, Equity, Equity premium puzzle, Rietz theory, Consumption, Risk aversion, and Fiat money
- Fach:
- H30 - Fiscal policies and behavior of economic agents - General, H63 - National budget, deficit, and debt - Debt ; Debt management, D81 - Information, knowledge, and uncertainty - Criteria for decision-making under risk and uncertainty, and E21 - Macroeconomics : Consumption, saving, production, employment, and investment - Consumption ; Saving ; Wealth
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- Alpha Creator Tesim:
- Chari, V. V., Kehoe, Patrick J., and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 365
- Stichwort:
- Choice, Monetary policy, Economic policy, Macroeconomics, and Decision making
- Fach:
- D99 - Intertemporal choice and growth - Other, E61 - Macroeconomic policy, macroeconomic aspects of public finance, and general outlook - Policy objectives ; Policy designs and consistency ; Policy coordination, and D81 - Information, knowledge, and uncertainty - Criteria for decision-making under risk and uncertainty
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- Alpha Creator Tesim:
- Hopenhayn, Hugo Andres. and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 374
- Abstract Tesim:
- The existence of fixed points for monotone maps on spaces of measures is established. The case of monotone Markov processes is analyzed and a uniqueness and global stability condition is developed. A comparative statics result is presented and the problem of approximation to the invariant distribution is discussed. The conditions of the theorems are verified for the cases of Optimal Stochastic Growth and Industry Equilibrium.
- Stichwort:
- Stochastic optimization, Monotone Markov process, and Invariant Markov process
- Fach:
- C61 - Mathematical methods and programming - Optimization techniques ; Programming models ; Dynamic analysis
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- Alpha Creator Tesim:
- Hopenhayn, Hugo Andres. and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 299
- Abstract Tesim:
- The existence of fixed points for monotone maps on spaces of measures is established. The case of monotone Markov processes is analyzed and a uniqueness and global stability condition is developed. A comparative statics result is presented and the problem of approximation to the invariant distribution is discussed. The conditions of the theorems are verified for the cases of Optimal Stochastic Growth and Industry Equilibrium.
- Stichwort:
- Stochastic optimization, Monotone Markov process, and Invariant Markov process
- Fach:
- C61 - Mathematical methods and programming - Optimization techniques ; Programming models ; Dynamic analysis
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- Alpha Creator Tesim:
- Chari, V. V., Hopenhayn, Hugo Andres., and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 289
- Stichwort:
- Employees, Unemployment, Workers, Information, and Labor
- Fach:
- E24 - Macroeconomics : Consumption, saving, production, employment, and investment - Employment ; Unemployment ; Wages ; Intergenerational income distribution ; Aggregate human capital and J24 - Demand and supply of labor - Human capital ; Skills ; Occupational choice ; Labor productivity
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- Alpha Creator Tesim:
- Kydland, Finn E. and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 267
- Abstract Tesim:
- The neoclassical growth model studied in Kydland and Prescott [1982] is modified to permit the capital utilization rate to vary. The effect of this modification is to increase the amplitude of the aggregate fluctuations predicted by theory as the equilibrium response to technological shocks. If following Solow [1957], the changes in output not accounted for by changes in the labor and tangible capital inputs are interpreted as being the technology shocks, the statistical properties of the fluctuations in the post-war United States economy are close in magintude and nature to those predicted by theory.
- Stichwort:
- Production, Business cycle , Work week, and Labor
- Fach:
- D50 - General equilibrium and disequilibrium - General and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles
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- Alpha Creator Tesim:
- Kydland, Finn E. and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 267
- Abstract Tesim:
- The neoclassical growth model studied in Kydland and Prescott [1982] is modified to permit the capital utilization rate to vary. The effect of this modification is to increase the amplitude of the aggregate fluctuations predicted by theory as the equilibrium response to technological shocks. If following Solow [1957], the changes in output not accounted for by changes in the labor and tangible capital inputs are interpreted as being the technology shocks, the statistical properties of the fluctuations in the post-war United States economy are close in magintude and nature to those predicted by theory.
- Stichwort:
- Production, Work week, Labor, and Business cycle
- Fach:
- D50 - General equilibrium and disequilibrium - General and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles
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- Alpha Creator Tesim:
- Boyd, John H., Prescott, Edward C., and Smith, Bruce D., d. 2002.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 257
- Stichwort:
- Information structure, Rothschild-Stiglitz insurance environment, Symmetric equilibria, Two stage game, Cooperative equilibrium, and Nash equilibrium
- Fach:
- D82 - Information, knowledge, and uncertainty - Asymmetric and private information and D50 - General equilibrium and disequilibrium - General
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- Alpha Creator Tesim:
- Boyd, John H. and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 272
- Beschreibung:
"Financial intermediary-coalitions" (WP 272) replaces "Financial intermediaries" (WP 231) and "Father of financial intermediary-coalitions" (WP 250).
- Stichwort:
- Thrift institutions, Asset transformers, Financial intermediation, Commercial banks, Consumer finance companies, Private information, Core equilibrium, and Loan companies
- Fach:
- D82 - Information, knowledge, and uncertainty - Asymmetric and private information, G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages, and D50 - General equilibrium and disequilibrium - General
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- Alpha Creator Tesim:
- Boyd, John H. and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 250
- Beschreibung:
"Financial intermediary-coalitions" (WP 272) replaces "Financial intermediaries" (WP 231) and "Father of financial intermediary-coalitions" (WP 250).
- Stichwort:
- Thrift institutions, Asset transformers, Financial intermediation, Commercial banks, Consumer finance companies, Private information, Core equilibrium, and Loan companies
- Fach:
- D82 - Information, knowledge, and uncertainty - Asymmetric and private information, G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages, and D50 - General equilibrium and disequilibrium - General
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- Alpha Creator Tesim:
- Cole, Harold Linh, 1957- and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 524
- Stichwort:
- Consumption and General equilibrium
- Fach:
- D50 - General equilibrium and disequilibrium - General
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- Alpha Creator Tesim:
- Prescott, Edward C. and Townsend, Robert M., 1948-
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 203
- Abstract Tesim:
- General competitive analysis is extended to cover a dynamic, pure-exchange economy with privately observed shocks to preferences. In the linear, infinite-dimensional space containing lotteries we establish the existence of optima, the existence of competitive equilibria, and that every competitive equilibrium is an optimum. An example illustrates that rationing and securities with contrived risk have an equilibrium interpretation.
- Stichwort:
- Pure exchange, Lotteries, and Competitive equilibria
- Fach:
- D82 - Information, knowledge, and uncertainty - Asymmetric and private information and D51 - General equilibrium and disequilibrium - Exchange and production economies
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- Alpha Creator Tesim:
- Boyd, John H. and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 231
- Beschreibung:
"Financial intermediary-coalitions" (WP 272) replaces "Financial intermediaries" (WP 231) and "Father of financial intermediary-coalitions" (WP 250).
- Fach:
- D82 - Information, knowledge, and uncertainty - Asymmetric and private information, G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages, and D50 - General equilibrium and disequilibrium - General
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- Alpha Creator Tesim:
- Hansen, Gary D. (Gary Duane) and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 507
- Beschreibung:
Presented at the ASSA meetings in Anaheim, CA.
- Stichwort:
- 1990, Productivity, Recession, 1991, Technological shocks, Labor, Technology shock, and Knowledge
- Fach:
- O33 - Technological change ; Research and development - Technological change : Choices and consequences ; Diffusion processes and G14 - General financial markets - Information and market efficiency ; Event studies
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- Alpha Creator Tesim:
- Cooley, Thomas F., Hansen, Gary D. (Gary Duane), and Prescott, Edward C.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 535
- Stichwort:
- Equilibrium and Business cycle
- Fach:
- E13 - General aggregative models - Neoclassical and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles
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- Alpha Creator Tesim:
- Boyd, John H., Prescott, Edward C., and Smith, Bruce D., d. 2002.
- Series:
- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
- Number:
- 385
- Stichwort:
- Noncooperative game, Signalling environment, Adverse selection, and Rothschild-Stiglitz
- Fach:
- D82 - Information, knowledge, and uncertainty - Asymmetric and private information, C68 - Mathematical methods and programming - Computable general equilibrium models, D40 - Market structure and pricing - General, and C72 - Game theory and bargaining theory - Noncooperative games
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- Alpha Creator Tesim:
- Azariadis, Costas., Cooley, Thomas F., Prescott, Edward C., and Schmitz, James Andrew.
- Series:
- Productivity and the industrial revolution
- Stichwort:
- Call for papers
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- Alpha Creator Tesim:
- Kehoe, Timothy Jerome, 1953-, Levine, David K., and Prescott, Edward C.
- Series:
- Endogenous incompleteness
- Stichwort:
- General equilibrium theory, Lotteries, Incentive constraints, Asset market frictions, Moral hazard economies, and Adverse selection
- Fach:
- D82 - Information, knowledge, and uncertainty - Asymmetric and private information, D81 - Information, knowledge, and uncertainty - Criteria for decision-making under risk and uncertainty, D84 - Information, knowledge, and uncertainty - Expectations ; Speculations, and D50 - General equilibrium and disequilibrium - General
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- Alpha Creator Tesim:
- Prescott, Edward C. and Ríos-Rull, José-Víctor.
- Series:
- Advances in dynamic economics
- Abstract Tesim:
- A necessary feature for equilibrium is that beliefs about the behavior of other agents are rational. We argue that in stationary OLG environments this implies that any future generation in the same situation as the initial generation must do as well as the initial generation did in that situation. We conclude that the existing equilibrium concepts in the literature do not satisfy this condition. We then propose an alternative equilibrium concept, organizational equilibrium, that satisfies this condition. We show that equilibrium exists, it is unique, and it improves over autarky without achieving optimality. Moreover, the equilibrium can be readily found by solving a maximization program.
- Stichwort:
- Equilibrium, Rational behavior, and Overlapping generations
- Fach:
- D51 - General equilibrium and disequilibrium - Exchange and production economies and E13 - General aggregative models - Neoclassical
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- Alpha Creator Tesim:
- Cavalcanti, Ricardo de Oliveira., Erosa, Andres., and Prescott, Edward C.
- Series:
- Finance, fluctuations, and development
- Stichwort:
- Financial markets, Financial intermediation, Investment, Economic development, and Growth
- Fach:
- O16 - Economic development - Financial markets ; Saving and capital investment ; Corporate finance and governance and E22 - Macroeconomics : Consumption, saving, production, employment, and investment - Capital ; Investment ; Capacity