Rational Expectations Equilibrium In An Economy With Segmented Capital Asset Markets PDF Download
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Author | : Amin H. Amershi |
Publisher | : |
Total Pages | : 76 |
Release | : 1995 |
Genre | : Capital market |
ISBN | : |
Download Rational Expectations Equilibrium in an Economy with Segmented Capital Asset Markets Book in PDF, ePub and Kindle
Author | : Buddhavarapu Sailesh Ramamurtie |
Publisher | : |
Total Pages | : 378 |
Release | : 1990 |
Genre | : |
ISBN | : |
Download Rational Expectations Equilibrium in a Large Economy with Segmented Asset Markets Book in PDF, ePub and Kindle
Author | : Margaritis, Dimitris |
Publisher | : |
Total Pages | : 28 |
Release | : 1987 |
Genre | : Market (Economics) |
ISBN | : |
Download Learning and Convergence to a Noisy Rational Expectations Equilibrium in an Asset Market Model Book in PDF, ePub and Kindle
Author | : Steven M. Sheffrin |
Publisher | : Cambridge University Press |
Total Pages | : 204 |
Release | : 1996-06-13 |
Genre | : Business & Economics |
ISBN | : 9780521479394 |
Download Rational Expectations Book in PDF, ePub and Kindle
This book develops the idea of rational expectations and surveys its use in economics today.
Author | : Roger Guesnerie |
Publisher | : MIT Press |
Total Pages | : 498 |
Release | : 2005-02-18 |
Genre | : Business & Economics |
ISBN | : 9780262262903 |
Download Assessing Rational Expectations 2 Book in PDF, ePub and Kindle
A theoretical assessment of the Rational Expectations Hypothesis through subjecting a collection of economic models to an "eductive stability" test. The rational expectations hypothesis (REH) dominates economic modeling in areas ranging from monetary theory, macroeconomics, and general equilibrium to finance. In this book, Roger Guesnerie continues the critical analysis of the REH begun in his Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations, which dealt with the questions raised by multiplicity and its implications for a theory of endogenous fluctuations. This second volume emphasizes "eductive" learning: relying on careful reasoning, agents must deduce what other agents guess, a process that differs from the standard evolutionary learning experience in which agents make decisions about the future based on past experiences. A broad "eductive" stability test is proposed that includes common knowledge and results in a unique "rationalizable expectations equilibrium." This test provides the basis for Guesnerie's theoretical assessment of the plausibility of the REH's expectational coordination, emphasizing, for different categories of economic models, conditions for the REH's success or failure. Guesnerie begins by presenting the concepts and methods of the eductive stability analysis in selected partial equilibrium models. He then explores to what extent general equilibrium strategic complementarities interfere with partial equilibrium considerations in the formation of stable expectations. Guesnerie next examines two issues relating to eductive stability in financial market models, speculation and asymmetric price information. The dynamic settings of an infinite horizon model are then taken up, and particular standard and generalized saddle-path solutions are scrutinized. Guesnerie concludes with a review of general questions and some "cautious" remarks on the policy implications of his analysis.
Author | : Anat R. Admati |
Publisher | : |
Total Pages | : 37 |
Release | : 1984 |
Genre | : Rational expectations (Economic theory) |
ISBN | : |
Download A Noisy Rational Expectations Equilibrium for Multi-asset Securities Markets Book in PDF, ePub and Kindle
Author | : Belinda Ann Brewer Gillette |
Publisher | : |
Total Pages | : 218 |
Release | : 1991 |
Genre | : Rational expectations (Economic theory) |
ISBN | : |
Download Rational Expectations Equilibrium in a Market with Restricted Access to Differential Information Book in PDF, ePub and Kindle
Author | : M. Bray |
Publisher | : |
Total Pages | : |
Release | : 1984 |
Genre | : Economics |
ISBN | : |
Download Rational Expectations, Information and Asset Markets Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : |
Release | : 2015 |
Genre | : |
ISBN | : |
Download Multi-asset Noisy Rational Expectations Equilibrium with Contingent Claims Book in PDF, ePub and Kindle
Author | : Bengt Holmstrom |
Publisher | : MIT Press |
Total Pages | : 263 |
Release | : 2013-01-11 |
Genre | : Business & Economics |
ISBN | : 0262518538 |
Download Inside and Outside Liquidity Book in PDF, ePub and Kindle
Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.