We study the short-run effects of import tariffs on GDP and the trade balance in an open-economy New Keynesian model with intermediate input trade. We find that temporary tariffs cause a downturn ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

A nonconcave growth model may exhibit multiple optimal steady states, with a critical capital stock serving as a threshold. Optimal capital paths originating from stock levels below (above) this ...

One Word Substitution means using a single word to replace a long phrase or sentence without changing its original meaning. It helps make communication more clear, concise, and effective. These ...

CU Boulder economist Alessandro Peri makes the case that empowering the young can meaningfully affect climate policy and climate outcomes The consensus opinion in previous research—that future ...

ABSTRACT: Macroeconomic conditions affect multiple dimensions that are related to the operation of an entrepreneurial firm. Through a multi-regime dynamic stochastic model, we show that this simple ...

ABSTRACT: While standard models in finance assume that an agent possesses a constant rate of time preferences, there is substantial evidence that people are impatient about choices in the short term ...

The Tax Cuts and Jobs Act eliminated federal charitable giving incentives for roughly 20 percent of US income-tax payers. We study the impact of this on giving. Basic theory and our empirical results ...

Citations: Vissing-Jorgensen, Annette. 2002. Limited Stock Market Participation and the Elasticity of Intertemporal Substitution. Journal of Political Economy. (4)825-853.