摘要:

ABSTRACTThis paper outlines the development and exposits some of the central ideas of implicit contract theory using only basic mathematics (mainly Lagrangeans) and diagrams.

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1987.tb00229.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1987.tb00230.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

摘要:

ABSTRACTSeveral techniques for solving dynamic rational expectations models have been proposed. This paper puts forward an alternative method for discrete time models, which is significantly simpler to use in practice. That solution is used to derive and compute optimal policy selections (incorporating ‘noncausal’ effects) which, by exploiting the discrete time framework, are also time consistent when sequentially reoptimized. Those decisions are shown to contain an optimal open loop component plus an innovations dependent correction mechanism. A numerical example is used to verify these properties, and to demonstrate the superiority of this policy selection technique over recursive methods (e.g. dynamic programmi

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1987.tb00231.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1987.tb00232.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

摘要:

ABSTRACTThe main argument of this paper is that the theoretical definition of Giffen's paradox is ambiguous to the extent that it ignores the initial endowments of the consumer. A Slutsky equation incorporating positive initial endowments is used to discuss the Irish demand for potatoes in 1845‐49, and some conditions to test whether or not the Irish potato was a Giffen good are deduce

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1987.tb00233.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1987.tb00234.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY