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当家庭和其他投资者面临不完备金融市场和个体性冲击时,他们该如何调整消费、投资以及改变在不同种类的金融资产上的头寸呢?新古典宏观模型假设金融市场是完备的,因而无法对这个问题提供答案。但这个问题对于个体家庭决策具有重要的现实意义,同时对于公共保险政策、相关的税收调节政策等也有较强的参考价值。
We take advantage of our knowledge of the neural circuitry of reward to investigate a puzzling economic phenomenon: Why do people overbid in auctions? Using functional magnetic resonance imaging (fM...
In this paper, we examine the various links among foreign direct investment (FDI), financial markets, and economic growth. We explore whether countries with better financial systems can exploit FD...
In this survey, we attempt to consider how ˉnancial integration may increase economic welfare with little mentioning of potentially destabilizing e®ects. Financial crises can result from a rang...
The criterion of economic performance used in this study is magnitude of fluctuations in inflation and output around longer term secular trends. The secular trends themselves are not the immediate f...
Comments on ‘Does Monetary Policy Affect Real Economic Activity: Why Do We Still Ask This Question?’ by Benjamin Friedman.
The first luncheon was held in 1948 in Cleveland.2 Winthrop Aldrich spoke. He was President of Chase National Bank, then the largest bank in the United States. Aldrich called his talk “The Managem...
Aldrich blamed the Federal Reserve’s easy-money policies of the 1920s for helping to cause the Great Depression. In the late ’40s, he was concerned that the Fed would monetize the enormous World War...
The paper gives picture of enrichment to economic and financial system analysis using agent-based models as a form of advanced study for financial economic post-statistical-data and micro-simulation a...
A financial friction is a wedge between the return received by providers of financial capital–ultimately, consumers–and the cost of capital paid by businesses and consumers who use capital. I study tw...
This paper describes a major computational social science environment for conducting experiments in finance and economics, specifically for investigating trading algorithms and economic risk. Fo...
The global financial crisis, beginning in 2008, took an historic toll on national economies around the world. Following equity market crashes, unemployment rates rose significantly in many countries: ...
The article discusses the impact of bank mergers on small business lending and economic conditions in the U.S. According to the economists, the importance these organizations has increased due to rapi...
Around the globe, various initiatives use the mobile phone to provide financial services to those without access to traditional banks. Relatively little scholarly research explores the use of these m-...
The article discusses the economic policy outlook in Great Britain after the global financial crisis. It says that economic forecast will stay uncertain since policymakers are working to change stimul...

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