Empirical Essays On Uncertainty And Economic Behavior PDF Download
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Author | : Paul Jones |
Publisher | : |
Total Pages | : 85 |
Release | : 2014 |
Genre | : Electronic dissertations |
ISBN | : |
Download Empirical Essays on Uncertainty and Economic Behavior Book in PDF, ePub and Kindle
My dissertation looks at the new and growing field of macroeconomic uncertainty. It consists of three empirical essays on different measures of macroeconomic uncertainty and how uncertainty affects macroeconomic behavior. The first essay uses a new uncertainty index from Baker et al. (2012). We evaluate the time-varying correlation between macroeconomic uncertainty, inflation, and output. Estimation results from a multivariate DCC-GARCH model reveal that the sign of the correlation between macroeconomic uncertainty and inflation changed from negative to positive during the late 1990s, whereas the correlation between uncertainty and output is consistently negative. In the second essay, we propose domestic uncertainty shocks may serve as a channel through which business cycles are transmitted internationally. To quantify uncertainty, we use two measures from the current literature and estimate structural vector autoregressions to evaluate the effects U.S. uncertainty shocks have on the Japanese and British economies. Our results suggest U.S. uncertainty shocks have international effects consistent with a demand shock in the context of an open-economy IS/LM model with sticky prices. For the final essay we estimate a number of macroeconomic variables as logistic smooth transition autoregressive (LSTAR) processes with uncertainty as the transition variable. Nonlinear estimation allows us to answer several interesting questions left unanswered by a linear model. For a number of important macroeconomic variables, we show (i) a positive shock to uncertainty has a greater effect than a negative shock, and (ii) the effect of the uncertainty shock is highly dependent on the state of the economy. Hence, the usual linear estimates concerning the consequences of uncertainty are underestimated in circumstances such as the recent financial crisis.
Author | : Michael Balch |
Publisher | : North-Holland |
Total Pages | : 464 |
Release | : 1974 |
Genre | : Business & Economics |
ISBN | : |
Download Essays on Economic Behavior Under Uncertainty Book in PDF, ePub and Kindle
Author | : Kaïs Dachraoui |
Publisher | : |
Total Pages | : 0 |
Release | : 1998 |
Genre | : |
ISBN | : |
Download Three Essays on Economic Behavior Under Uncertainty Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : |
Release | : 1999 |
Genre | : |
ISBN | : |
Download Three Essays on Economic Behavior Under Uncertainty, Theory and Empirical Evidences Book in PDF, ePub and Kindle
Author | : George Katona |
Publisher | : Ann Arbor, Mich. : Survey Research Center, Institute for Social Research, University of Michigan |
Total Pages | : 120 |
Release | : 1980 |
Genre | : Business & Economics |
ISBN | : |
Download Essays on Behavioral Economics Book in PDF, ePub and Kindle
Author | : M. S. Balch |
Publisher | : |
Total Pages | : 436 |
Release | : 1974 |
Genre | : |
ISBN | : |
Download Essays on Economic Behavior and Uncertainty Book in PDF, ePub and Kindle
Author | : M. Balch |
Publisher | : |
Total Pages | : 436 |
Release | : 1974 |
Genre | : |
ISBN | : |
Download Essays on economic behavior under uncertainty Book in PDF, ePub and Kindle
Author | : Frank H. Knight |
Publisher | : Cosimo, Inc. |
Total Pages | : 401 |
Release | : 2006-11-01 |
Genre | : Business & Economics |
ISBN | : 1602060053 |
Download Risk, Uncertainty and Profit Book in PDF, ePub and Kindle
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author | : Steven E. Scroggin |
Publisher | : |
Total Pages | : 324 |
Release | : 2005 |
Genre | : Attorney and client |
ISBN | : |
Download Essays in Dynamic Uncertainty Book in PDF, ePub and Kindle
Author | : Christopher Thiem |
Publisher | : |
Total Pages | : |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Empirical Essays on the Influence of Uncertainty in the World Economy Book in PDF, ePub and Kindle