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Sutherland, Alan, Senay, Ozge,
Much of the literature on optimal monetary policy uses models in which the degree of nominal price flexibility is exogenous. There are, however, good reasons to suppose that the degree of price flexib...
complete descriptionhttp://ideas.repec.org/p/san/cdmawp/1007.html
Lasselle, Laurence, Svizzero, S, Tisdell, C,
We investigate the dynamics of a cobweb model with heterogeneous beliefs, generalizing the example of Brock and Hommes (1997). We examine situations where the agents form expectations by using either ...
complete descriptionhttp://hdl.handle.net/10023/1534
Kim, Seong-Hoon, Moon, Seongman,
In this paper, we consider a producer who faces uninsurable business risks due to incomplete spanning of asset markets over stochastic goods market outcomes, and examine how the presence of the uninsu...
complete descriptionhttp://hdl.handle.net/10023/2173
Senay, Ozge,
This paper analyzes exchange-rate dynamics following a money-based disinflation under different degrees of exchange-rate pass-through. Using a microfounded dynamic general equilibrium model with imper...
complete descriptionhttp://hdl.handle.net/10023/2296
Devereux, Michael B., Senay, Ozge, Sutherland, Alan,
Over the one and a half decades prior to the global financial crisis, advanced economies experienced a large growth in gross external portfolio positions. This phenomenon has been described as Financi...
complete descriptionhttp://www.nber.org/papers/w17796
Senay, Ozge, Sutherland, Alan,
Much of the literature on optimal monetary policy uses models in which the degree of nominal price flexibility is exogenous. There are, however, good reasons to suppose that the degree of price flexib...
complete descriptionhttp://www.st-andrews.ac.uk/cdma/papers.html#WP
Senay, Ozge,
This paper analyses the welfare performance of a set of five alternative interest rate rules in an open economy stochastic dynamic general equilibrium model with nominal rigidities. A rule with a lagg...
complete descriptionhttp://hdl.handle.net/10023/2286
Manzini, Paola, Mariotti, Marco,
In Tversky’s (1969) model of a lexicographic semiorder, a preference is generated via the sequential application of numerical criteria by declaring an alternative x better than an alternative y if the...
complete descriptionhttp://econtheory.org/ojs/index.php/te/article/viewFile/20120001/6159/207
Papi, Mauro,
Standard choice theory assumes that the budget set is known to the decision-maker in advance. In contrast, we develop a model in which alternatives are examined sequentially and decision-makers exhibi...
complete descriptionhttp://hdl.handle.net/10023/2595
Kim, Seong-Hoon,
This paper introduces a classification of DSGEs from a Markovian perspective, and positions the class of POMDP (Partially Observable Markov Decision Process) to the center of a generalization of linea...
complete descriptionhttp://hdl.handle.net/10023/2599