A Khan, RG King… - Review of Economic Studies, 2003 - Wiley Online Library
Optimal monetary policy maximizes the welfare of a representative agent, given frictions in
the economic environment. Constructing a model with two sets of frictions—costly price
adjustment by imperfectly competitive firms and costly exchange of wealth for goods—we ...
A Khan… - 2007 - nber.org
We study a model of lumpy investment wherein establishments face persistent shocks to
common and plant-specific productivity, and nonconvex adjustment costs lead them to
pursue generalized (S, s) investment rules. We allow persistent heterogeneity in both ...
A Khan… - Journal of monetary economics, 2003 - Elsevier
Recent empirical analysis has found nonlinearities to be important in understanding
aggregated investment. Using an equilibrium business cycle model, we search for
aggregate nonlinearities arising from the introduction of nonconvex capital adjustment ...
A Khan… - The American Economic Review, 2007 - JSTOR
We develop an equilibrium business cycle model where nonconvex delivery costs lead firms
to follow (S, s) inventory policies. Calibrated to postwar US data, the model reproduces two-
thirds of the cyclical variability of inventory investment. Moreover, it delivers strongly ...
A Khan - Macroeconomic Dynamics, 2001 - Cambridge Univ Press
We develop a theory of financial development based on the costs associated with the
provision of external finance. These costs arise through informational asymmetries between
borrowers and lenders that are costly to resolve. When borrowing is limited, producers ...
A Atkenson, A Khan… - Carnegie-Rochester Conference Series …, 1996 - Elsevier
An important question in macroeconomics is: how large are the aggregate effects of
variation in industry evolution? We show that these effects depend critically on the nature of
differences in profit functions across plants, and that if these functions are nearly ...
A Khan - Business Review, 2000 - philadelphiafed.org
Aubhik Khan* It is difficult to overemphasize the potential benefits of economic growth for
improving human welfare. For example, Bangladesh, India, and Pakistan, three of the
world's lowest income nations, had real per capita GDP of $1908, $1633, and $1793, ...
A Khan, B Ravikumar - Journal of Monetary Economics, 2001 - Elsevier
We examine the impact of incomplete risk-sharing on growth and welfare. The source of
market incompleteness in our economy is private information: a household's idiosyncratic
productivity shock is not observable by others. Risk-sharing between households occurs ...
A Khan… - FRB of Philadelphia Working Paper No. 07- …, 2007 - papers.ssrn.com
Abstract: The authors examine a monetary economy where households incur fixed
transactions costs when exchanging bonds and money and, as a result, carry money
balances in excess of current spending to limit the frequency of such trades. As only a ...
A Khan… - 2003 - nber.org
We develop an equilibrium business cycle model where nonconvex delivery costs lead
producers of final goods to follow generalized (S, s) inventory policies with respect to
intermediate goods. When calibrated to match the average inventory-to-sales ratio in ...
A Khan, B Ravikumar… - 2002 - arts.cornell.edu
Abstract We introduce capital accumulation into an economy where individuals have private
information with respect to productivity shocks and risk-sharing is implemented through long
term contracts. In contrast to the risky unobservable endowment model, individual's ...
[CITATION] kOptimal monetary policyl
A Khan, R King… - Federal Reserve Bank of Philadelphia working paper, 2002
A Khan… - Macroeconomic Dynamics, 2007 - Cambridge Univ Press
Abstract We evaluate two leading explanations for inventories, the (S, s) and stockout
avoidance motives, examining each within dynamic stochastic general equilibrium
environments. We find that the (S, s) model is far more consistent with the cyclical ...
A Khan, B Ravikumar - Review of Economic dynamics, 2002 - Elsevier
We develop a model of costly technology adoption where the cost is irrecoverable and fixed.
Households must decide when to switch from an existing technology to a new, more
productive technology. Using a recursive approach, we show that there is a unique ...
A Khan… - 2011 - nber.org
We study the cyclical implications of credit market imperfections in a calibrated dynamic,
stochastic general equilibrium model wherein firms face persistent shocks to aggregate and
individual productivity. In our model economy, optimal capital reallocation is distorted by ...
A Khan, RG King… - Working Paper, 2001 - ideas.repec.org
In a canonical staggered pricing model, monetary discretion leads to multiple private sector
equilibria. The basis for multiplicity is a form of policy complementarity. Specifically, prices
set in the current period embed expectations about future policy, and actual future policy ...
A Khan, B Ravikumar… - 1999 - 129.3.20.41
Abstract We examine the impact of incomplete risk-sharing on growth and welfare. The
source of market incompleteness in our economy is private information: a household's
idiosyncratic productivity shock is not observable by others. Risk-sharing between ...
[CITATION] A. Wolman (2003),'Optimal monetary policy'
A Khan… - Review of Economic Studies
A Khan… - 2004 - nber.org
We search for useful models of aggregate fluctuations with inventories. We focus exclusively
on dynamic stochastic general equilibrium models that endogenously give rise to inventory
investment and evaluate two leading candidates: the (S, s) model and the stockout ...
A Khan… - 2005 - worldeconomyandfinance.org
ABSTRACT We examine a monetary economy wherein endogenous asset market
segmentation permits the extent of household participation in open market operations to
smoothly vary with changes in aggregate conditions. While we impose no stickiness at the ...
[CITATION] Adjustment costs
A Khan… - The New Palgrave Dictionary of Economics, 2008
A Khan - Ratio, 1950 - philadelphiafed.org
Since the Second World War, there has been little overall change in the number of hours
worked per person in the United States. Hiding under this apparent constancy lie some
pronounced shifts in the composition of the labor force. The share of employment ...
A Khan - Federal Reserve Bank of Philadelphia Business …, 2001 - philadelphiafed.org
On average, higher levels of such investments raise production by increasing the
productivity of the labor force. While the significance of shortterm changes in business
investment is less widely recognized, the importance of such changes for the business ...
[CITATION] Adjustment Costs. The New Palgrave Dictionary of Economics
A Khan… - 2006 - Palgrave Macmillan
A Khan, R King… - 2002 - papers.ssrn.com
Abstract: In a canonical staggered pricing model, monetary discretion leads to multiple
private sector equilibria. The basis for multiplicity is a form of policy complementarity.
Specifically, prices set in the current period embed expectations about future policy, and ...
JK Thomas… - 2004 Meeting Papers, 2004 - ideas.repec.org
We solve the first general equilibrium model of lumpy investment allowing a quantitative
match with recent empirical evidence on establishment-level investment dynamics. In our
model, establishments are subject to both persistent aggregate and persistent ...
[CITATION] Enduring Relationships with Capital Accumulation
A Khan, B Ravikumar - manuscript, Federal Reserve Bank of Philadelphia, 2001
A Khan, B Ravikumar - 2000 - papers.ssrn.com
Abstract: The authors develop a model of costly technology adoption where the cost is
irrecoverable and fixed. Households must decide when to switch from an existing
technology to a new, more productive technology. Using a recursive approach, the ...
[CITATION] rThe Finance and Growth Nexus, sFederal Reserve Bank of Philadelphia Business Review
A Khan - January/Feburay, 2000
A Khan - Business Review Q, 2009 - relooney.fatcow.com
1 The Penn World Tables, prepared by Alan Heston, Robert Summers, and Bettina Aten,
facilitate cross-country comparisons by calculating real GDP per capita for a large set of
countries using a common set of international prices. It is widely used for cross-country ...
A Khan - Business Review, 2002 - ideas.repec.org
In the final article this quarter, Aubhik Khan wonders: What determines whether a
manufacturing plant survives? Is it access to credit markets? Or does learning about plants'
profitability over time determine survival? Should government policy play a role in helping ...
A Khan… - 2009 - aida.econ.yale.edu
ABSTRACT We study the cyclical implications of credit market imperfections in a dynamic,
stochastic general equilibrium model wherein firms face persistent shocks to both aggregate
and individual produc# tivity. In our model economy, optimal capital reallocation is ...
A Khan… - King: Boston University, 2002 - philadelphiafed.org
Abstract We develop an equilibrium business cycle model in which final goods producers
pursue generalized (S, s) inventory policies with respect to intermediate goods, a
consequence of nonconvex factor adjustment costs. Calibrating our model to reproduce ...
A Khan… - 2006 Meeting Papers, 2006 - ideas.repec.org
Inflation, Employment and Interest Rates in an Economy with Endogenous Market
Segmentation Aubhik Khan, Federal Reserve Bank of Philadelphia Julia K. Thomas,
University of Minnesota We examine a monetary economy where households incur fixed ...
[CITATION] Nonconvex Factor Adjustments and the Business Cycle: Do Nonlinearities Matter?
A Khan… - Federal Reserve Bank of Philadelphia mimeograph, 2000
JK Thomas… - 2005 Meeting Papers, 2005 - 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 Khan - Business Review, 2008 - ideas.repec.org
In the 19th century, the United Kingdom began a period of economic transformation known
as the Industrial Revolution. It's commonly believed that this era opened as new inventions
improved the technologies used to produce goods and provide services. However, we ...
JK Thomas… - 2005 Meeting Papers, 2005 - ideas.repec.org
We evaluate two leading models of aggregate fluctuations with inventories in general
equilibrium: the (S, s) model and the stockout avoidance model. Each is judged by its ability
to explain the observed magnitude of inventories in the US economy, alongside other ...
A Khan… - 2004 - mpls.frb.org
ABSTRACT We evaluate two leading models of aggregate fluctutations with inventories in
general equilibrium: the (S, s) model and the stockout avoidance model. Each is judged by
its ability to explain the observed magnitude of inventories in the US economy, alongside ...
A Khan - Business Review, 2006 - ideas.repec.org
The popular press would lead us to believe that during the stock market boom of the 1990s
just about everyone was buying and selling bonds every day. In fact, evidence shows that
most households make only infrequent changes to their investment portfolios." In The Role ...
A Khan - 1993 - en.scientificcommons.org
Publikationsansicht. 33850441. Intermediation and growth / (1993). Khan, Aubhik. Abstract.
Thesis (Ph.D. in Economics) -- Graduate School of Arts and Sciences, University of
Pennsylvania, 1993.. Includes bibliography. Details der Publikation. ...
Z Li, J Sun, A Siow, A Khan, G Kambourov, X Zhu… - 2008 - Citeseer
Abstract This paper incorporates labor search frictions into a model with lumpy in% vestment
to explain a set of firm% size% related facts about the United States labor market dynamics
over business cycles. Contrary to the predictions of standard models, we observe that job ...
A Khan, L Popov… - 2011 - virginia.edu
Abstract We introduce capital accumulation into an economy where individuals have private
information with respect to productivity shocks. Efficient, incentive-compatible risk-sharing is
achieved by conditioning current and future payoffs on the history of productivity reports. ...
A Khan… - 2003 - minneapolisfed.org
ABSTRACT We develop an equilibrium business cycle model where producers of final
goods pursue generalized (S, s) inventory policies with respect to intermediate goods due to
nonconvex factor adjustment costs. When calibrated to reproduce the average inventory- ...
A Khan… - 2004 - mpls.frb.org
ABSTRACT We solve equilibrium models of lumpy investment wherein establishments face
persistent shocks to common and plant-specific productivity. Nonconvex adjustment costs
lead plants to pursue generalized (S, s) rules with respect to capital; thus, their ...
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