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Szabolcs Deák, Paul Levine, Joseph Pearlman and Bo Yang
We construct a New Keynesian (NK) behavioural macroeconomic model with bounded-rationality (BR) and heterogeneous agents. We solve and simulate the model using a third-order approximation for a given policy and evaluate its properties using this solution...
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Mauricio Muñoz Osores,Jose Fernandez Palma,Francisca Sánchez Mora
Pág. 61 - 70
Shopping centers are dynamic and changing systems that gather diverse offers of brands, products and services, becoming attractive environments for buyers, who are faced with the "buy or not buy" dilemma or, " buy now or buy later ". Since internal and e...
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Johannes P. Steyn,Lomari Theart
AbstractOrientation: It is rational for investors to expect additional compensation for an increased risk exposure. This positive risk?return relationship is in line with traditional financial theory; however, this relationship does not always hold in em...
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Chris van Heerden,Andre Heymans,Yudhvir Seetharam
AbstractCentral banks currently perform inflation expectation surveys in order to better align their inflation expectations with that of the general public. However, surveys are time-consuming, complicated, expensive and not always accurate, thus comprom...
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Yi-Chang Chen,Hung-Che Wu,Jen-Jsung Huang
Pág. 649 - 663
This paper aims to examine whether the changes of the rational expectations of a tendency to herd among investors under different market conditions in China?s market. We find that herding remains scarce during periods of market tumult. Also, herd behavio...
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Nina RIZUN,Yurii TARANENKO
Pág. 241 - 264
The main purpose of the paper is presentation of the new concept of human decision-making process modeling via using the analogy with Automatic Control Theory. From the author's point of view this concept allows to develop and improve the theory of decis...
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Wagner Piazza Gaglianone,Ana Luiza Louzada Pereira
Pág. pp. 55 - 100
This article analyses the behavior of the Brazilian exchange rate (Real/US dollar) and the corresponding values forecasted by the market agents, from 2001 (November) to 2004 (may). We use the data-base of the Brazilian Central Bank, called Sistema de Exp...
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Eugenio Bobenrieth
Pág. pp. 67 - 78
Stock variations are recognized, by market participants and by the literature,
as relevant in the determination of prices of storable assets. This paper presents
results in the literature of rational expectations dynamic models based on
stock variations,...
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Benjamin Miranda Tabak,Sandro Canesso de Andrade
Pág. pp. 19 - 43
We test the Expectations Hypothesis (EH) plus Rational Expectations (RE) in the Brazilian term-structure of interest rates, using maturities ranging from 1 month to 12 months, and daily data from 1995 to 2000. We rely on two methodologies based on single...
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Clark, Peter B.; Goodhart, Charles A.E.; Huang, Haizhou
Pág. 497 - 520
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