E Carceles-Poveda… - Journal of Economic Dynamics and …, 2007 - Elsevier
We analyze practical aspects of implementing adaptive learning in the context of forward
looking linear models. We focus on how to set initial conditions for three popular algorithms,
namely recursive least squares, stochastic gradient and constant gain learning. We ...
E Carceles-Poveda… - Review of Economic Dynamics, 2008 - Elsevier
We study the extent to which self-referential adaptive learning can explain stylized asset
pricing facts in a general equilibrium framework. In particular, we analyze the effects of
recursive least squares and constant gain algorithms in a production economy and a ...
A Abrahám… - Journal of Economic Theory, 2010 - Elsevier
A Abraham… - 2006 - exams.library.utoronto.ca
[This item is a preserved copy. To view the original, visit http://econtheory. org/] Alvarez and
Jermann (2000) show that the constrained efficient allocations of endowment economies
with imperfect risk sharing due to limited commitment can be decentralized as competitive ...
E Carceles‐Poveda… - International Economic …, 2009 - Wiley Online Library
When markets are incomplete, shareholders typically disagree on the firm's optimal
investment plan. This article studies the shareholders' preferences with respect to the firm's
investment in a model with aggregate risk, incomplete markets and heterogeneous ...
E Carceles-Poveda… - … Manuscript, SUNY Stony …, 2005 - papers.ssrn.com
Abstract: The implications of a context with household heterogeneity and incomplete
financial markets have been mostly studied under the assumption that households own the
physical capital and undertake the intertemporal investment decision. Further, firms rent ...
[CITATION] Risk Sharing under Limited Commitment
A Abrahám… - … Manuscript, University of Rochester and SUNY …, 2007
E Cárceles-Poveda… - University of Rochester, …, 2006 - papers.ssrn.com
Page 1. Electronic copy available at: http://ssrn.com/abstract=1026679 Endogenous Trading
Constraints with Incomplete Asset Markets* Vrpád Vbrahám) University oF Rochester Eva
Cárceles!Poveda* SUNY at Stony Brook October 22, 2007 Abstract. ...
[CITATION] Tax Reform with Incomplete Markets and Endogenous Borrowing Limits
Á Ábrahám… - 2007 - manuscript
E Carceles Poveda - Economics Letters, 2003 - Elsevier
We show that the equilibrium of a standard real business cycle model with capital
adjustment costs can be supported as an equilibrium with a risk averse firm and no
adjustment costs. Our result sheds light on the implications of a utility maximizing (UM) ...
E Carceles-Poveda - Review of Economic Dynamics, 2009 - Elsevier
In this paper, we study the quantitative implications of a real business cycle model where the
firm is the capital owner, households are heterogeneous, and markets are incomplete due to
restricted asset trade. Since, under these assumptions, the usual firm objective is no ...
E Cárceles-Poveda… - Games and Economic Behavior, 2011 - Elsevier
Á Ábrahám… - Computing in Economics and Finance, 2006 - itam.mx
Page 1. Complete Markets, Enforcement Constraints and Intermediation* Árpád
Ábrahám†and Eva Cárceles-Poveda* February 26, 2006 Abstract. Alvarez and
Jermann (2000) show that the constrained efficient allocations of ...
Á Ábrahám… - 2009 - Citeseer
Page 1. Competitive Equilibria with Production and Limited Commitment* Árpád
Ábrahám†and Eva Cárceles-Poveda* March 9, 2009 Abstract. This paper studies a
production economy with aggregate uncertainty where consumers ...
EVA CARCELES-POVEDA - Macroeconomic Dynamics, 2005 - Cambridge Univ Press
The present paper uses an analytical approach to derive approximate closed-form solutions
for the asset moments of a real-business-cycle model with idiosyncratic risk. To preserve
analytical tractability, risk sharing is completely shut down. Further, the firm is assumed to ...
[CITATION] Equity Financing
A Anagnostopoulos, E Carceles-Poveda… - London School of Economics, …, 2011
Á Ábrahám… - 2005 - econ.core.hu
Page 1. Endogenous Trading Constraints with Incomplete Asset Markets* Árpád
Ábrahám† University of Rochester Eva Cárceles-Poveda* SUNY at Stony Brook June
3, 2005 Abstract. The present paper endogeneizes the borrowing ...
Á Ábrahám… - Unpublished, 2010 - econ.ceu.hu
Page 1. Tax Reform with Endogenous Borrowing Limits and Incomplete Asset Markets
Árpád Ábrahám* European University Institute Eva Cárceles-Poveda† SUNY at
Stony Brook October 7, 2009 Abstract. This paper studies ...
E Carceles-Poveda… - Review of Economic Dynamics, 2010 - Elsevier
Many recent papers in macroeconomics have studied the implications of models with
household heterogeneity and incomplete financial markets under the assumption that
households own the stock of physical capital and undertake the intertemporal investment ...
A Anagnostopoulos, E Carceles-Poveda… - 2010 - web-docs.stern.nyu.edu
Abstract Motivated by the Jobs and Growth Tax Relief Reconciliation Act of 2003, we study
the effects of capital income tax cuts in a framework where firms make investment decisions
to maximize their market value and households are subject to uninsurable labor income ...
E Carceles-Poveda… - 2005 Meeting Papers, 2005 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to
view it first. Information about this may be contained in the File-Format links below. In case of
further problems read the IDEAS help page. Note that these files are not on the IDEAS site ...
E Carceles-Poveda… - 2007 - papers.ssrn.com
Abstract: In a model with capital accumulation, aggregate risk and competitive
intermediaries, Abraham and Carceles-Poveda (2006) show that the constrained efficient
allocations can be decentralized as a competitive equilibrium with endogenous borrowing ...
E Carceles-Poveda… - 2007 - ideas.repec.org
We study the extent to which self-referential adaptive learning can explain stylized asset
pricing facts in a general equilibrium framework. In particular, we analyze the effects of
recursive least squares and constant gain algorithms in a production economy and a ...
A Anagnostopoulos… - 2008 - ms.cc.sunysb.edu
Page 1. Equity Issuance and Dividend Policy under Commitment* Work in Progress Alexis
Anagnostopoulos, SUNY Stony Brook† Eva Cárceles-Poveda, SUNY Stony Brook‡ Albert Marcet,
London School of Economics and IAE, CSIC§ June 2, 2010 Abstract. ...
Y Algan, O Allais… - Review of Economic Dynamics, 2009 - Elsevier
C Giannitsarou… - Computing in Economics and …, 2004 - ideas.repec.org
While there is an extensive literature on identifying the asymptotic properties of adaptive
learning algorithms, little is explicitly mentioned on how to actually implement these
algorithms on the computer to analyze the quantitative effects of learning in dynamic ...
E Carceles-Poveda - 2008 - business.illinois.edu
Abstract. This paper studies a model of corporate finance in which firms use stock issuance
to finance investment. We assume that the firm is" rational" and therefore recognizes the
relationship between future dividends and stock prices. Under this assumption, future ...
A Anagnostopoulos, OE Atesagaoglu… - ms.cc.sunysb.edu
Abstract In the United States, the residential housing market went through important
changes over the period from the 1970s to the mid-1990s. Although the aggregate
homeownership rate was relatively constant during that period, the distribution of ...
A Anagnostopoulos, E Cárceles-Poveda… - 2011 - ms.cc.sunysb.edu
Page 1. Proper Welfare Weights for Social Optimization Problems Alexis Anagnostopoulos,
Eva Carceles-Poveda, Yair Tauman February 16, 2010 Abstract. Social optimization
problems are often used in economics to study important issues. ...
E Carceles-Poveda… - Computing in Economics and …, 2003 - ideas.repec.org
No abstract is available for this item. ... To our knowledge, this item is not available for
download. To find whether it is available, there are three options: 1. Check below under "Related
research" whether another version of this item is available online. 2. Check on the ...
A Anagnostopoulos, OE Atesagaoglu… - 2010 - eea-esem.com
Abstract. The residential housing market in the US went through important changes over the
period of the 1970s to the mid-1990s. Although the aggregate homeownership rate was
relatively constant during that time, younger households saw generally substantial ...
A Anagnostopoulos, E Carceles-Poveda… - 2010 - ideas.repec.org
This paper studies a model of corporate finance in which firms use stock issuance to finance
investment. Since the firm recognizes the relationship between future dividends and stock
prices, future variables enter in the constraints and optimal policy is in general time ...
S Eren, H Benítez-Silva… - 2011 - papers.ssrn.com
Abstract: Immigration is having an increasingly important effect on the social insurance
system in the United States. On the one hand, eligible legal immigrants have the right to
eventually receive pension benefits but also rely on other aspects of the social insurance ...
D Coen-Pirani… - GSIA Working Papers - ideas.repec.org
In the macroeconomic literature, the implications of a context with household heterogeneity
and incomplete financial markets have been mostly studied under the assumption that
households own the physical capital and undertake the intertemporal investment decision. ...
H Benítez-Silva, S Eren… - 2011 - papers.ssrn.com
Abstract: Immigration is having an increasingly important effect on the social insurance
system in the United States. On the one hand, eligible legal immigrants have the right to
eventually receive pension benefits, but also rely on other aspects of the social insurance ...
E Carceles-Poveda… - 2007 - cepr.org
We study the extent to which self-referential adaptive learning can explain stylized asset
pricing facts in a general equilibrium framework. In particular, we analyze the effects of
recursive least squares and constant gain algorithms in a production economy and a ...
AAEC Poveda - 2008 - qed.econ.queensu.ca
Page 1. Risk Sharing under Limited Commitment* Arpád Abrahám+and Eva Cárceles Poveda*
March 23, 2008 Abstract. This paper studies a production economy with aggregate uncertainty
where consumers have limited commitment on their financial liabil$ ities. ...
E Carceles Poveda - 2001 - tesisenred.net
Uno de los problemas principales de la literature moderna de ciclos es la imposibilidad de
replicar el comportamiento de los rendimientos de activos financieros. Varios autores han
incorporado mercados financieros en el modelo basico de ciclos, demonstrando que, ...
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