Zobrazeno 1 - 10
of 37
pro vyhledávání: '"Marco M. Sorge"'
Publikováno v:
Economies, Vol 11, Iss 4, p 125 (2023)
We investigate pairwise stochastic comparisons of stationary solutions to the linear recurrence Xt+1=AtXt+Bt, where At and Bt are non-negative random variables. We establish novel order-preserving properties, which enable us to obtain comparison theo
Externí odkaz:
https://doaj.org/article/00235936df8f468bb4dc5386d133f1e2
Autor:
Marco M. Sorge
Publikováno v:
Notas Económicas, Iss 32 (2010)
In this note we discuss the possibility of empirically evaluating the relative importance of different drivers of forecast errors in linear rational expectations frameworks, using the predictions generated by the theory. By means of a few simple exam
Externí odkaz:
https://doaj.org/article/0c716e08f86b449baf965bd825ead874
Publikováno v:
German Economic Review. 21:1-33
World banking systems are almost invariably populated by relatively diverse financial institutions. This paper studies the operation of credit markets where heterogeneous banks compete for investment projects of varying quality in the presence of inf
Autor:
Marco M. Sorge
Publikováno v:
Decisions in Economics and Finance. 43:363-372
Indeterminate equilibrium rational expectations (RE) models are ubiquitous in both theoretical and applied work in dynamic macroeconomics. The issue of characterizing the exact dimension of indeterminacy—i.e. of deriving the full set of causal and
Autor:
Marco M. Sorge
I revisit the stabilizing and determinacy properties of Taylor-type policy rules in the canonical New Keynesian model when allowing for a unit root in the supply shock process. While able to offset inflationary pressure from non-stationary disturbanc
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::3f97dfb57019ccf44cb09389ae30714c
http://hdl.handle.net/11386/4763788
http://hdl.handle.net/11386/4763788
Non-profit organizations (NPOs), such as financial cooperatives, have a longstanding tradition in advanced market economies. We develop a model of ‘mixed credit markets’ where pure for-profit institutions (e.g. commercial banks) can coexist with
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::10da9c03ef71302feab007236032073e
http://hdl.handle.net/11386/4758862
http://hdl.handle.net/11386/4758862
Autor:
Chetan Dave, Marco M. Sorge
Empirical growth-rate distributions of major macroeconomic aggregates are typically non-Normal and exhibit fat tails. We advance the idea that indeterminacies in standard rational expectations models can qualify as a source of high-frequency extreme
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::c4678f932d846d335ed48193c259b82e
http://hdl.handle.net/11386/4747699
http://hdl.handle.net/11386/4747699
Autor:
Frank Hespeler, Marco M. Sorge
Publikováno v:
Computational Economics. 53:1649-1654
Kormilitsina (Comput Econ 41(4): 525–555, 2013) develops a perturbation-based algorithm to solve up to the second order of approximation rational expectations models with informational subperiods (timing restrictions). It is there claimed that the
Autor:
Marco M. Sorge, Chetan Dave
Publikováno v:
European Economic Review. 140:103933
We argue that dynamic indeterminacy in structural models can help rationalize statistical regularities regarding higher-order properties of macroeconomic time series. Without departing from the Gaussian rational expectations paradigm, we formally est
Autor:
Marco M. Sorge, Christian Di Pietro
Publikováno v:
Economics Letters. 172:56-58
This comment shows that Peng (2018)’s Theorem 2 requires amendment. A new set of (relatively stricter) assumptions is provided, under which Peng (2018)’s findings –in particular, the asymmetric impact of capital and income risk on wealth mobili