• Login
    View Item 
    •   Home
    • UA Faculty Research
    • UA Faculty Publications
    • View Item
    •   Home
    • UA Faculty Research
    • UA Faculty Publications
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Browse

    All of UA Campus RepositoryCommunitiesTitleAuthorsIssue DateSubmit DateSubjectsPublisherJournalThis CollectionTitleAuthorsIssue DateSubmit DateSubjectsPublisherJournal

    My Account

    LoginRegister

    About

    AboutUA Faculty PublicationsUA DissertationsUA Master's ThesesUA Honors ThesesUA PressUA YearbooksUA CatalogsUA Libraries

    Statistics

    Most Popular ItemsStatistics by CountryMost Popular Authors

    Frictions in an Experimental Dynamic Stochastic General Equilibrium Economy

    • CSV
    • RefMan
    • EndNote
    • BibTex
    • RefWorks
    Thumbnail
    Name:
    NPZg0.22s.pdf
    Size:
    601.3Kb
    Format:
    PDF
    Description:
    Final Accepted Manuscript
    Download
    Author
    Noussair, Charles N.
    Pfajfar, Damjan
    Zsiros, Janos
    Affiliation
    Department of Economics, University of Arizona
    Issue Date
    2021-02-24
    Keywords
    DSGE economy
    frictions
    laboratory experiments
    menu costs
    
    Metadata
    Show full item record
    Publisher
    Wiley Blackwell
    Citation
    Noussair, C. N., Pfajfar, D., & Zsiros, J. (2021). Frictions in an experimental dynamic stochastic general equilibrium economy. Journal of Money, Credit and Banking.
    Journal
    Journal of Money, Credit and Banking
    Rights
    © 2021 The Ohio State University.
    Collection Information
    This item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at repository@u.library.arizona.edu.
    Abstract
    We construct experimental economies, populated with human subjects, with different institutional features that have a structure and incentives similar to a dynamic stochastic general equilibrium model. An experimental economy with monopolistic competition and no menu costs generates empirical patterns that are closer to the U.S. economy than simulations or the other experimental environments. We observe greater welfare and output in a setting where goods are perfect substitutes compared to treatments with monopolistic competition. Discretionary human central bankers produce lower output and welfare compared to an automated instrumental rule. Menu costs reduce inflation volatility. © 2021 The Ohio State University
    Note
    12 month embargo; first published online 24 February 2021
    ISSN
    0022-2879
    EISSN
    1538-4616
    DOI
    10.1111/jmcb.12791
    Version
    Final accepted manuscript
    ae974a485f413a2113503eed53cd6c53
    10.1111/jmcb.12791
    Scopus Count
    Collections
    UA Faculty Publications

    entitlement

     
    The University of Arizona Libraries | 1510 E. University Blvd. | Tucson, AZ 85721-0055
    Tel 520-621-6442 | repository@u.library.arizona.edu
    DSpace software copyright © 2002-2017  DuraSpace
    Quick Guide | Contact Us | Send Feedback
    Open Repository is a service operated by 
    Atmire NV
     

    Export search results

    The export option will allow you to export the current search results of the entered query to a file. Different formats are available for download. To export the items, click on the button corresponding with the preferred download format.

    By default, clicking on the export buttons will result in a download of the allowed maximum amount of items.

    To select a subset of the search results, click "Selective Export" button and make a selection of the items you want to export. The amount of items that can be exported at once is similarly restricted as the full export.

    After making a selection, click one of the export format buttons. The amount of items that will be exported is indicated in the bubble next to export format.