133 Irreversibility and Monitoring in Dynamic Games: Experimental Evidence
Author : Andrew Choi, Syngjoo Choi, Yves Gueron, Eungik Lee
Abstract :
This paper provides experimental evidence on the impacts of irreversibility and imperfect monitorin...
This paper provides experimental evidence on the impacts of irreversibility and imperfect monitorin...
132 Solving Reduced-form Linear Rational Expectations
Author : Jae Won Lee; Woong Yong Park
Abstract :
This paper proposes an improvement on popular solution methods for linear rational expectations mode...
This paper proposes an improvement on popular solution methods for linear rational expectations mode...
131 Income Volatility and Portfolio Choices
Author : Yongsung Chang, Jay. H. Hong, Marios Karabarbounis, Yicheng Wang
Abstract :
Based on administrative data from Statistics Norway, we fi nd economically significant shifts in hou...
Based on administrative data from Statistics Norway, we fi nd economically significant shifts in hou...
130 Labor-Market Wedge under Engel Curve Utility: Cyclical Substitution between Necessities and Luxuries
Author : Youngsung Chang, Andreas Hornstein, Marios Karabarbounis
Abstract :
In booms, households substitute luxuries for necessities, e.g., food away from home for food at home...
In booms, households substitute luxuries for necessities, e.g., food away from home for food at home...
129 Desperate times call for desperate measures: government spending multipliers in hard times
Author : Sokbae Lee, Yuan Liao, Myung Hwan Seo, Youngki Shin
Abstract :
We investigate state-dependent effects of fiscal multipliers and allow for endogenous sample splitti...
We investigate state-dependent effects of fiscal multipliers and allow for endogenous sample splitti...
128 Factor-Driven Two-Regime Regression
Author : Sokbae Lee, Yuan Liao, Myung Hwan Seo, Youngki Shin
Abstract :
We propose a novel two-regime regression model where the switching between the regimes is driven by ...
We propose a novel two-regime regression model where the switching between the regimes is driven by ...
127 Network-motivated Lending Decisions: A Rationale for Forbearance
Author : Yoshiaki Ogura, Ryo Okui, Yukiko Umeno Saito
Abstract :
We demonstrate theoretically and empirically the presence of forbearance lending by profit maximizin...
We demonstrate theoretically and empirically the presence of forbearance lending by profit maximizin...
126 Can information alleviate overconfidence? A randomized experiment on financial market predictions
Author : Takanori Ida; Ryo Okui
Abstract :
In this study, we examine how information provision affects the degree of overconfidence using an o...
In this study, we examine how information provision affects the degree of overconfidence using an o...
125 Equilibrium Redistribution under Ex-ante Heterogeneity and Income-Dependent Voting
Author : Bo Hyun Chang; Yongsung Chang; Sun-Bin Kim;
Abstract :
From a utilitarian point of view, the optimal income tax rate in the U.S. should be much higher than...
From a utilitarian point of view, the optimal income tax rate in the U.S. should be much higher than...
124 Financial Contagion in Networks: A Market Experiment
Author : Syngjoo Choi, Edoardo Gallo, and Brian Wallace
Abstract :
We investigate how the network structure of financial linkages and uncer- tainty about the location o...
We investigate how the network structure of financial linkages and uncer- tainty about the location o...