Vector rational error correction

Article Abstract:

A hybrid framework that bridges the gap between data-based and theory-based modeling is presented. This forward-looking framework, which follows linear decision rules, involves the formulation of vector rational error correction models. These models inherit the data fitting objectives of VAR models but significantly lower the number of free parameters by incorporating rational agent corrections. They also provide linear-quadratic approximations of rational agent theories but facilitate statistical testing of these theoretical priors.

Research, Models, Macroeconomics, Rational expectations (Economics), Decision theory, Vector analysis

---

Optimal monetary policy when lump-sum taxes are unavailable: a reconsideration of the outcomes under commitment and discretion

Article Abstract:

Monetary policy formulation during high-taxation scenarios in inflated economies is discussed.

United States, Legal issues & crime, Government regulation (cont), Government regulation, Legal/Government Regulation, Analysis, Interpretation and construction, Laws, regulations and rules, Economic conditions, Inflation (Finance), Monetary policy, Taxation, Inflation (Economics)

---

Similar abstracts:

• Abstracts: The quest for prosperity without inflation. Optimal monetary policy with the cost channel. The incredible Volcker disinflation
• Abstracts: Cultural group selection, coevolutionary processes, and large-scale cooperation: a comment. Cultural group selection, co evolutionary processes and large-scale cooperation (by Joseph Henrich)
• Abstracts: Manager-investor conflicts in mutual funds. State-contingent bank regulation with unobserved actions and unobserved characteristics
• Abstracts: The spatial concept of international economic relations as a theoretical basis for the development of interregional cooperation within the framework of integration processes in the CIS
• Abstracts: The spatial concept of international economic relations as a theoretical basis for the development of interregional cooperation within the framework of integration processes in the CIS. part 2

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.