We examine the asset pricing implications of a production economy whose long‐term
growth prospects are endogenously determined by innovation and R&D. In equilibrium …

The surge in public debt triggered by the financial crisis has raised uncertainty about future
tax pressure and economic activity. We examine the asset pricing effects of fiscal policies in …

Recent fiscal interventions have raised concerns about US public debt, future distortionary
tax pressure, and long-run growth potential. We explore the long-run implications of public …

Premiums on US sovereign credit default swaps (CDS) have risen to persistently elevated
levels since the financial crisis. We examine whether these premiums reflect the probability …

I develop a model of real exchange rate determination that attributes a central role to the
intertemporal government budget condition, which equates the market value of government …

Тема. В статье предложена система оценки криптоактивов и модель цен на
криптоактивы на базе GARCH-подхода. Показано, какая система отчетности …

We study the general-equilibrium effects of the corporate debt tax shield in an endowment
economy with a redistributive tax system that taxes firm profits and household income and …

We extend the endogenous growth model of Kung and Schmid (2015) by adding
endogenous labor dynamics and two variants of wage rigidities. This leads to an increase of …

Предмет. Предложена DSGE-модель на базе теории адаптивных ожиданий. Показано,
как разработанная модель может быть использована для целей прогнозирования …

This paper examines how innovation-led growth affects optimal monetary policy. We
consider the Ramsey policy in a New Keynesian model where R&D leads to an expanding …