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Category :
Languages : en
Pages :
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Book Description
The Stockholm School of Economics presents the full text of the December 4, 2000 working paper entitled "An Alternative Explanation of the Price Puzzle," written by Paolo Giordani. The text is available in PDF format. This paper features an explanation for the appearance of a price puzzle in vector autoregression models (VAR) designed for monetary policy analysis, finding that the answer implies a close connection between theory and empirics.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The Stockholm School of Economics presents the full text of the December 4, 2000 working paper entitled "An Alternative Explanation of the Price Puzzle," written by Paolo Giordani. The text is available in PDF format. This paper features an explanation for the appearance of a price puzzle in vector autoregression models (VAR) designed for monetary policy analysis, finding that the answer implies a close connection between theory and empirics.
Author: Paolo Giordani
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Book Description
Author: Fabio Canova
Publisher: Princeton University Press
ISBN: 140084102X
Category : Business & Economics
Languages : en
Pages : 509
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Book Description
The last twenty years have witnessed tremendous advances in the mathematical, statistical, and computational tools available to applied macroeconomists. This rapidly evolving field has redefined how researchers test models and validate theories. Yet until now there has been no textbook that unites the latest methods and bridges the divide between theoretical and applied work. Fabio Canova brings together dynamic equilibrium theory, data analysis, and advanced econometric and computational methods to provide the first comprehensive set of techniques for use by academic economists as well as professional macroeconomists in banking and finance, industry, and government. This graduate-level textbook is for readers knowledgeable in modern macroeconomic theory, econometrics, and computational programming using RATS, MATLAB, or Gauss. Inevitably a modern treatment of such a complex topic requires a quantitative perspective, a solid dynamic theory background, and the development of empirical and numerical methods--which is where Canova's book differs from typical graduate textbooks in macroeconomics and econometrics. Rather than list a series of estimators and their properties, Canova starts from a class of DSGE models, finds an approximate linear representation for the decision rules, and describes methods needed to estimate their parameters, examining their fit to the data. The book is complete with numerous examples and exercises. Today's economic analysts need a strong foundation in both theory and application. Methods for Applied Macroeconomic Research offers the essential tools for the next generation of macroeconomists.
Author: Woon Gyu Choi
Publisher: International Monetary Fund
ISBN: 1451962290
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
This paper uncovers Taylor rules from estimated monetary policy reactions using a structural VAR on U.S. data from 1959 to 2009. These Taylor rules reveal the dynamic nature of policy responses to different structural shocks. We find that U.S. monetary policy has been far more responsive over time to demand shocks than to supply shocks, and more aggressive toward inflation than output growth. Our estimated dynamic policy coefficients characterize the style of policy as a "bang-bang" control for the pre-1979 period and as a gradual control for the post-1979 period.
Author: Marvin Jenkins Barth
Publisher:
ISBN:
Category : Capital investments
Languages : en
Pages : 66
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Book Description
This paper presents evidence that the cost channel' may be an important part of the monetary transmission mechanism. We argue that if working capital is an essential component of production and distribution, monetary contractions can affect output through a supply channel as well as the traditional demand-type channels. We specify an industry equilibrium model and use it to interpret the results of a VAR analysis. We find that following a monetary contraction, many industries exhibit periods of falling output and rising price-wage ratios, consistent with a supply shock in our model. We also show that the effects are noticeably more pronounced during the period before 1979.
Author: Paul D. McNelis
Publisher: Elsevier
ISBN: 0080479650
Category : Computers
Languages : en
Pages : 261
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Book Description
This book explores the intuitive appeal of neural networks and the genetic algorithm in finance. It demonstrates how neural networks used in combination with evolutionary computation outperform classical econometric methods for accuracy in forecasting, classification and dimensionality reduction. McNelis utilizes a variety of examples, from forecasting automobile production and corporate bond spread, to inflation and deflation processes in Hong Kong and Japan, to credit card default in Germany to bank failures in Texas, to cap-floor volatilities in New York and Hong Kong. * Offers a balanced, critical review of the neural network methods and genetic algorithms used in finance * Includes numerous examples and applications * Numerical illustrations use MATLAB code and the book is accompanied by a website
Author: Clément Deslandes
Publisher: MIT Press
ISBN: 0262373734
Category : Mathematics
Languages : en
Pages : 233
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Book Description
Ingeniously designed mathematical riddles to delight armchair—and seasoned—mathematicians, in high school and beyond. In The Price of Cake, brothers Clément and Guillaume Deslandes have assembled a uniquely rich and accessible collection of mathematical riddles, organized by difficulty and accompanied by unique hand-drawn illustrations. The challenges are exceptional in both their range and their precision. There are no “tricks” here—just good math to test your skills. While any student will be thrilled to encounter fresh presentations of classic conundrums such as Simpson’s paradox, Hilbert's infinite hotel, Monty Hall’s paradox, and Seven Bridges of Königsberg, seasoned solvers will also appreciate challenging original puzzles using the Axiom of Choice and Conway’s Soldiers problem. The Deslandes’ lucid and elegant solutions offer new insights, as they seamlessly connect the skills applied in each problem to broader theoretical revelations. Moreover, as Fields Medalist Cédric Villani writes in his preface, these riddles are much more than just exercises. They capture “a certain dose of decorum and mystery,” and to decipher them will require both imagination and tenacity. To aid you on this journey, the authors provide hints to each puzzle, detailed proofs and solutions, and a series of Math Refreshers to revisit important concepts that are used to arrive at those answers. Entertaining and rigorous in equal measure, The Price of Cake is bound to captivate mathematics enthusiasts and students of all levels.
Author: Carl E. Walsh
Publisher: MIT Press
ISBN: 9780262232319
Category : Business & Economics
Languages : en
Pages : 636
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Book Description
An overview of recent theoretical and policy-related developments in monetary economics.
Author: Zopounidis, Constantin
Publisher: IGI Global
ISBN: 1799824381
Category : Business & Economics
Languages : en
Pages : 385
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Book Description
In recent years, there has been a swell of investment opportunities in contemporary asset classes that have gained considerable attention, including cryptocurrencies, hedge funds, and private equity. These alternative investments provide the opportunity to enhance the diversification of financial portfolios and harvest risk premiums that traditional assets like stocks and bonds fail to provide. The emergence of these new properties has created the need to further understand the mechanics, risks, and returns of alternative investments. Recent Advances and Applications in Alternative Investments is a pivotal reference source that provides vital research on the emergence and development of complementary asset classes in the field of finance and investment. While highlighting topics such as carbon emission markets, renewable energy, and digital currencies, this publication explores modern investment strategies as well as the latest products and new types of risk. This book is ideally designed for managers, strategists, accountants, financial professionals, economists, brokers, investors, business practitioners, policymakers, researchers, and academicians seeking current research on contemporary developments in investment strategies and alternative assets.
Author: Nathan U. Salmon
Publisher: Oxford University Press
ISBN: 9780199281763
Category : Language Arts & Disciplines
Languages : en
Pages : 458
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Book Description
'Metaphysics, Mathematics and Meaning' brings together Nathan Salmon's influential papers on topics in the metaphysics of existence, non-existence and fiction. He includes a previously unpublished essay and helpful new introduction to orient the reader.
