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Prescott, Edward C.
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Creator: Cole, Harold Linh, 1957- and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 524 Parola chiave: Consumption and General equilibrium Soggetto: D50 - General equilibrium and disequilibrium - General -
Creator: Prescott, Edward C. and Townsend, Robert M., 1948- Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 203 Abstract: 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. Parola chiave: Pure exchange, Lotteries, and Competitive equilibria Soggetto: D82 - Information, knowledge, and uncertainty - Asymmetric and private information and D51 - General equilibrium and disequilibrium - Exchange and production economies -
Creator: Boyd, John H. and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 231 Descrizione: "Financial intermediary-coalitions" (WP 272) replaces "Financial intermediaries" (WP 231) and "Father of financial intermediary-coalitions" (WP 250).
Soggetto: 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 -
Creator: Hansen, Gary D. (Gary Duane) and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 507 Descrizione: Presented at the ASSA meetings in Anaheim, CA.
Parola chiave: 1990, Productivity, Recession, 1991, Technological shocks, Labor, Technology shock, and Knowledge Soggetto: O33 - Technological change ; Research and development - Technological change : Choices and consequences ; Diffusion processes and G14 - General financial markets - Information and market efficiency ; Event studies -
Creator: Cooley, Thomas F., Hansen, Gary D. (Gary Duane), and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 535 Parola chiave: Equilibrium and Business cycle Soggetto: E13 - General aggregative models - Neoclassical and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles -
Creator: Boyd, John H., Prescott, Edward C., and Smith, Bruce D., d. 2002. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 385 Parola chiave: Noncooperative game, Signalling environment, Adverse selection, and Rothschild-Stiglitz Soggetto: 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 -
Creator: Azariadis, Costas., Cooley, Thomas F., Prescott, Edward C., and Schmitz, James Andrew. Series: Productivity and the industrial revolution Parola chiave: Call for papers -
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Creator: Prescott, Edward C. and Ríos-Rull, José-Víctor. Series: Advances in dynamic economics Abstract: 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. Parola chiave: Equilibrium, Rational behavior, and Overlapping generations Soggetto: D51 - General equilibrium and disequilibrium - Exchange and production economies and E13 - General aggregative models - Neoclassical -
Creator: Cavalcanti, Ricardo de Oliveira., Erosa, Andres., and Prescott, Edward C. Series: Finance, fluctuations, and development Parola chiave: Financial markets, Financial intermediation, Investment, Economic development, and Growth Soggetto: 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