I. DSGE Theory and
Computation
A. Sequential and
Recursive Competitive Equilibrium
Textbooks
T.
Cooley, Frontiers of Business Cycle Research, Princeton University Press, 1995. Chapters 1-2.
L.
Ljungqvist and T. Sargent, Recursive Macroeconomic Theory, MIT Press,
2000. Chapter 12, New chapters for 2nd Edition.
N.
Stokey and R.E. Lucas with E. Prescott, Recursive Methods in
Economic Dynamics, Harvard University Press, 1989, Chapters 15-16.
Papers
R. Mehra and E. Prescott, Recursive
Competitive Equilibrium: The Case of Homogenous Households, Econometrica
48, 1365-80, September 1980.
Bona, J.L. and M.S. Santos, On
the Role of Computation in Economic Theory, Journal of Economic Theory,
Volume 72, Issue 2, February 1997, Pages 241-281
B. Monotone
Methods
Textbooks
Athey, S., P. Milgrom, and J. Roberts,
Robust Comparative Statics, draft manuscript (not publicly available
currently).
Cooper,
R., Coordination Games: Complementarities and Macroeconomics, Cambridge University Press, 1999.
Topkis,
D., Supermodularity and Complementarity, Princeton University Press, 1998.
Papers
Athey, S., Monotone
Comparative Statics Under Uncertainty, Quarterly Journal of Economics,
CXVII (1), February 2002, 187-223.
Cooper,
R. and A. John, Coordinating
Coordination Failures in Keynesian Models, Quarterly Journal of
Economics, 103 (1988), 441-463.
Hopenhayn,
H. and E.C. Prescott, Stochastic
Monotonicity and Stationary Distributions for Dynamic Economies, Econometrica,
60 (2), November 1992, 1387-1406.
Milgrom,
P. and J. Roberts, Comparing
Equilibria, American Economic Review, 84 (3), 1994, 441-459.
Milgrom,
P. and C. Shannon, Monotone
Comparative Statics, Econometrica, 62(1), January 1994, 157-180.
Mirman,
L.J., and R. Ruble, Lattice
Programming and the Consumers Problem, January 2003.
Vives, X., Nash Equilibrium with
Strategic Complementarities, Journal of Mathematical Economics, 19
(1990), 305-21.
Zhou,
L., The
Set of Nash Equilibria of a Supermodular Game is a Complete Lattice, Games
and Economic Behavior, 7 (1994) 295-300.
C. Representative Agent Nonoptimal Economies
Textbooks
T.
Cooley, Frontiers of Business Cycle Research, Princeton University Press, 1995. Chapter 3.
L.
Ljungqvist and T. Sargent, Recursive Macroeconomic Theory, MIT Press,
2000. Chapter 12, New chapters for 2nd Edition.
N.
Stokey and R.E. Lucas with E. Prescott, Recursive Methods in
Economic Dynamics, Harvard University Press, 1989. Chapter 18
Papers
Amir,
R., L. J. Mirman and W. Perkins, 1991, One-sector
New classical Optimal Growth: Optimality Conditions and Comparative Dynamics,
International Economic Review, 32, 625-644.
Coleman, W. J., II. 1990, Solving
the Stochastic Growth Model by Policy Function Iteration, Journal of
Business and Economic Statistics, 8 (1990), 27-29.
Coleman,
W. J., II. 1991. Equilibrium
in a Production Economy with an Income Tax. Econometrica, 59,
1091-1104.
Coleman,
W. J., II. 1997. Equilibria
in Distorted Infinite-horizon Economies with Capital and Labor. Journal
of Economic Theory, 72, 446-461.
Coleman,
W. J., II. 2000. The
Uniqueness of Equilibrium in Infinite horizon Economies with Taxes and
Externalities, Journal of Economic Theory, 95, 71-78.
Datta,
M., L. J. Mirman, and K. L. Reffett, 2002. Existence
and Uniqueness of Equilibrium in Distorted Dynamic Economies with Capital and
Labor, Journal of Economic Theory, 103, 377-410.
Datta,
M., L. J. Mirman, O. Morand, and K. L. Reffett, 2002, Monotone Methods for
Markovian Equilibrium in Dynamic Economies.
Greenwood, J., and G. Huffman. 1995. On
the Existence of Nonoptimal Equilibria in Dynamic Stochastic Economies, Journal
of Economic Theory, 65, 611-623.
Kehoe, T., D. Levine, and P. Romer. 1992. On characterizing
equilibria of economies with externalities and taxes as solutions to
optimization problems. Economic Theory, 2, 43-68.
Santos, M.S., Accuracy
of Numerical Solutions Using the Euler Equation Residuals, Econometrica
68 (2000), 1377-1402.
Santos,
M.S., On
Non-existence of Markov Equilibria in Competitive-Market Economies, Journal
of Economic Theory, Volume 105, Issue 1, July 2002, 73-98
Santos, M.S. and J.
Vigo-Aguiar, Analysis
of a Numerical Dynamic Programming Algorithm Applied to Economic Models, Econometrica,
Vol. 66, No. 2. (Mar., 1998), pp. 409-426
D. Heterogeneity and Incomplete Markets: Bewley Model
Textbooks
T.
Cooley, Frontiers of Business Cycle Research, Princeton University Press, 1995. Chapter 4.
L.
Ljunqvist and T. Sargent, Recursive Macroeconomic Theory, 2000, MIT
Press. Chapter 14.
Papers
S.R.
Aiyagari, Uninsured
Idiosyncratic Risk and Aggregate Saving, Quarterly Journal of Economics,
109 (1994) 659-684.
S.R.
Aiyagari, Optimal
Capital Income Taxation with Incomplete Markets, Borrowing Constraints and
Constant Discounting, Journal of Political Economy, 6 (1995)
1158-1175.
S.R.
Aiyagari and E.R.
McGrattan, The
Optimal Quantity of Debt, Journal of Monetary Economics (Vol. 42,
No. 3, December 1998, pp. 447-469) Appendix
K.
Athreya, 2002, Welfare
Implications of the Bankruptcy Reform Act of 1999, forthcoming, Journal
of Monetary Economics 49, 1567-1595.
T.
Bewley, Stationary monetary equilibrium with a continuum of independently
fluctuating consumers, in W. Hildenbrand and A. Mas-Colell ed., Contributions
to Mathematical Economics in Honor of Gerard Debreu, Amsterdam: North
Holland, 1986.
M. Huggett, The Risk-Free
Rate in Heterogeneous-Agent Incomplete-Insurance Economies, Journal of
Economic Dynamics and Control, 17 (1993) 953-969.
M. Huggett, Wealth
Distribution in Life-Cycle Economies, Journal of Monetary
Economics
38 (1996), 469-494.
M. Huggett, The
One-Sector Growth Model with Idiosyncratic Shocks: Steady States and Dynamics,
Journal of Monetary Economics, 39 (1997) 385-403.
P.
Krusell and A. Smith, Income
and Wealth Heterogeneity in the Macroeconomy, Journal of Political
Economy, 105 (1998) 867-896.
W.
Li and Pierre-Daniel Sarte, The Macroeconomics
of U.S. Consumer Bankruptcy Choice: Chapter 7 or Chapter 13? 2002.
X.
Mateos-Planas and Giulio Seccia, Welfare
Implications of Bankruptcy with Endogenous Credit Limits, 2003
J.
Miao, Stationary equilibria of economies with a continuum of consumers, Working
paper, University of Rochester, 2001.
J.
Miao, Competitive Equilibria of Economies with a Continuum of Consumers and
Aggregate Shocks, Working paper, University of Rochester, 2003.
Jennifer M. Platania, The Welfare
Implications of the Tax Benefit to Homeownership, 2001.
Gustavo Ventura,
Flat Tax Reform: A Quantitative Exploration, Journal of Economic Dynamics
and Control, 23, 1999.
E. Heterogeneous Agents Pure Exchange Economies
Textbooks
L.
Ljunqvist and T. Sargent, Recursive Macroeconomic Theory, 2000, MIT
Press. Chapter 7.
Papers
Duffie, D.,
J. Geanakoplos, A. Mas-Colell, and A. McLennan, Stationary
Markov Equilibria, Econometrica, 62 (1994) 745-781.
Judd, K., F. Kubler,
and K.
Schmedders, Asset Trading Volume in Infinite-Horizon Economies
with Dynamically Complete Markets and Heterogeneous Agents, Journal of
Finance (forthcoming), (pdf)
Judd, K., F. Kubler,
and K.
Schmedders, Computational Methods for Dynamic Equilibria with
Heterogeneous Agents, Advances in Economic Theory and Econometrics,
Volume III, Econometric Society, New York, 2003.
Krebs, T., "Non-Existence of
Recursive Equilibria on Compact State Spaces When Markets Are Incomplete",
forthcoming in The Journal of Economic Theory
Kubler, F. and K.
Schmedders, Stationary Equilibria in Asset-Pricing Models with
Incomplete Markets and Collateral, (pdf), Econometrica
(forthcoming).
Kubler, F. and K.
Schmedders, Recursive Equilibria in Economies with Incomplete Markets,
Macroeconomic Dynamics, 6 (2002) 284-306
Levin, D. and W. Zame, Debt Constraints and
Equilibrium in Infinite Horizon Economies with Incomplete Markets, Journal of Mathematical
Economics
26 (1996), 103-131.
Levin, D. and W. Zame, Does Market
Incompleteness Matter [09/25/01]
Magill, M. and M. Quinzii, Infinite Horizon Incomplete Markets,
Econometrica 62 (1994), 853-880.
Magill, M. and M. Quinzii, Incomplete
Markets Over An Infinite Horizon: Long Lived Securities and Speculative
Bubbles, Journal of Mathematical Economics, vol. 26, 1996, pp.
133-170.
Santos, M.S.
and M. Woodford, Rational
Asset Pricing Bubbles, Econometrica 65: 19-58 (1997)
II. Asset Pricing
Textbooks
Cochrane,
J., Asset Pricing, Princeton University Press, 2002.
T.
Cooley, Frontiers of Business Cycle Research, Princeton University Press, 1995. Chapter 10.
L.
Ljunqvist and T. Sargent, Recursive Macroeconomic Theory, 2000, MIT
Press. Chapters 7 and 10.
A. Stylized Facts
and Standard CCAPM
Campbell,
J., Consumption-Based
Asset Pricing, forthcoming in Handbook of the Economics of Finance,
George Constantinides, Milton Harris, and Rene Stulz eds., North-Holland,
Amsterdam, 2003.
Campbell,
J., Asset
Pricing at the Millennium, Journal of Finance, August 2000.
James
L. Davis, Explaining
Stock Returns: A Literature Survey, 2001.
Kocherlakota, N. (1996), The
Equity Premium: It's Still a Puzzle, Journal of Economic Literature,
vol XXXIV, #1.
Lettau, Martin, Inspecting the
Mechanism: The Determination of Asset Prices in the RBC Model." Economic Journal, forthcoming July 2003.
Lucas
(1978), Asset
Prices in an Exchange Economy, Econometrica 46, 1429-1446.
Mehra,
R. and E.
Prescott (1985), The Equity Premium: A Puzzle, Journal of Monetary Economics
15: 145-161.
B. Beyond Standard Model
Nonstandard Preferences and Behavioral Finance
Campbell, J., and J. Cochrane,
(1999) By Force of Habit: A Consumption-Based Explanation of Aggregate
Stock Market Behavior, Journal of Political Economy 107, 205-251.
Chen,
Z. and L. Epstein, Ambiguity, Risk and Asset
Returns in Continuous Time, Econometrica 70 (2002), 1403-1443
L. Epstein and S. Zin (1991), Substitution, Risk Aversion and the Temporal Behavior of Consumption
and Asset Returns: A Theoretical Framework, Econometrica
57, 937-969.
Hirshleifer, D., “Investor Psychology and Asset Pricing,” Journal
of Finance, 56(4), August (2001):1533-1598.
Hirshleifer, D., and S. Teoh, Herd Behavior and Cascading in Capital Markets: A Review and
Synthesis, 2001.
Luttmer, E. and T. Mariotti, Subjective Discounting in an
Exchange Economy, Journal of Political Economy, forthcoming.
Rabin, M., Psychology and Economics, Journal of
Economic Literature, Vol. XXXVI, 11-46, March 1998.
Shleifer, A., Inefficient Markets: An
Introduction to Behavioral Finance, Oxford University Press, 2000.
Case,
K.E., Real Estate and the Macroeconomy, Brookings Papers on Economic
Activity, 2000, 2
Hanno, L. and S.V Nieuwerburgh, Housing Collateral, Consumption Insurance and Risk Premia,
2003
Piazzesi, M., M. Schneider, and S. Tuzel, Housing, Consumption, and Asset Pricing,
2003, Working paper.
Aiyagari,
R. and M. Gertler (1991). Asset Returns with Transactions Costs and Uninsured
Individual Risk. Journal of Monetary Economics 27, 311-31.
Constantinides, G. and D. Duffie (1996), Asset Pricing with Heterogeneous Consumers,
Journal of Political Economy 104, 219-240.
Heaton,
J., and D. Lucas (1996). Evaluating the Effects of Incomplete Markets on Risk Sharing
and Asset Pricing. Journal of Political Economy 104,
443-87.
Heaton,
J. and D. Lucas (1995), The Importance of Investor Heterogeneity and Financial
Market Imperfections for the Behavior of Asset Prices, Carnegie
Rochester Conference Series on Public Policy 42, 1-32.
Telmer, C.
(1993) Asset Pricing Puzzles and Incomplete Markets,
Journal of Finance, Vol. 48, No. 5. (Dec., 1993), pp.
1803-1832.
Brav,
Constantinides and Ceczy (2001), Asset Pricing with Heterogeneous Consumers and Limited
Participation: Empirical Evidence, Journal of Political
Economy 110 (2002), 793-824.
Guvenen, F.,
Does
Stockholding Provide Perfect Risk Sharing?, 2003.
Heaton,
J. and D. Lucas (2000), Stock Pricing and Fundamentals, NBER Macroeconomics
Annual
Mankiw, N.G. and Zeldes (1991), The Consumption
of Stockholders and Non-Stockholders, Journal of Financial Economics 29,
97-112.
Gomes, J., L. Kogan, and L. Zhang, Equilibrium Cross-section Returns, Journal
of Political Economy, 2003.
Lettau, Martin, and Sydney Ludvigson, Resurrecting the (C)CAPM: A Cross-Sectional Test When Risk
Premia Are Time-Varying, Journal of Political
Economy 109, 1238-1286, 2001.
Yogo,
Motohiro, A Consumption-Based Explanation of the Cross-Section of
Expected Stock Returns, unpublished paper, Harvard
University, 2003.
Bernanke, B., and M. Gertler (1989). Agency Costs, Net Worth, and Business Fluctuations,
American Economic Review 79(1), 14-31.
Bernanke,
B., M. Gertler and S. Gilchrist (1999). Financial Accelerator in a Quantitative Business Cycle
Framework, In: J. Taylor and M. Woodford (eds.), Handbook
of Macroeconomics, Elsevier Science, Amsterdam.
Donaldson,
J.B. and J.P. Danthine, The Macroeconomics of Delegated Management,
2003
Gorton,
G., J. Dow, and A. Krishnamurthy, Equilibrium Asset Prices under Imperfect Corporate Control,
2003
Gomes, J., A. Yaron, and L. Zhang, Asset Prices and Business Cycles with Costly External
Finance, Review of Economic Dynamics.
Gomes, J., A. Yaron, and L. Zhang, Asset Pricing Implications of Firms' Financing Constraints,
March 2003.
Holmstrom, B. and J. Tirole, LAPM: A Liquidity-Based Asset Pricing Model,
Journal of Finance 56, 2001,1837-1867.
Jovanovic, B., and P. Rousseau, "Why Wait? A Century of Life Before IPO",
AEA Papers & Proc., May 2001
Pastor,
L. and P. Veronesi, Stock Prices and IPO Waves, 2003.
Taxes
McGrattan, E.R. and E.C. Prescott, Taxes, Regulations, and the Value of U.S. Corporations: A
General Equilibrium Analysis, FRM Staff Report 309, 2002.
McGrattan,
E.R. and E.C. Prescott, Average Debt and Equity Returns: Puzzling,
2003
McGrattan,
E.R. and E.C. Prescott, Is the Stock Market Overvalued? FRM
Quarterly Review, 24 (2000), 20-40.
Margin
Requirements
Coen-Pirani,
D., Margin Requirements and Equilibrium Asset Prices,
GSIA, 2001.
Aiyagari,
R. and M. Gertler, "Overreaction" of Asset
Prices in General Equilibrium . Review of Economic Dynamics,
2 (1), January 1999, pp.3-35.
Cuoco,
D. and H. Liu, 2000, A Martingale Characterization of Consumption Choices and
Hedging Costs with Margin Requirements , Mathematical
Finance, Vol. 10, No. 3, 355-385.
III.
Consumption and Portfolio Choice
John
Y. Campbell and Luis M. Viceira, Strategic Asset
Allocation: Portfolio Choice for Long-term Investors, Oxford University
Press, 2002.
Brueckner,
J. (1997), Consumption and Investment Motives and the Portfolio Choices of
Homeowners, Journal of Real Estate Finance and Economics vol. 15, pp.
159-180
Canner,
Niko, N. Gregory Mankiw, and David N. Weil, ''An Asset Allocation Puzzle'', American
Economic Review 87:181-191, March 1997.
Guiso,
Jappelli, and Terlizzese (1996), Income Risk, Borrowing Constraints and Portfolio Choice,
American Economic Review 86, pp. 158-172
Heaton
and Lucas (2000), Portfolio Choice and Asset Prices: The Importance of
Entrepreneurial Risk. Journal of Finance, 55, 1163-1198.
James M. Poterba and Andrew Samwick,, Stock Ownership Patterns, Stock Market Fluctuations, and
Consumption, Brookings Papers on Economic Activity,
1995:2, pp. 295-357, 368-272.
Hugo Benitez-Silva, A Dynamic Model of Labor Supply, Consumption/Saving, and
Annuity Decisions Under Uncertainty, 2000.
John Y. Campbell, Joao F. Cocco, Francisco J. Gomes and Pascal J. Maenhout,
Investing Retirement Wealth: A
Life Cycle Model, NBER 7029, 1999.
Liu, J., Endogenous Retirement and
Portfolio Choice, 2002. Adobe PDF Version
L.J. Kotlikoff, J.B. Shoven and A. Spivak,
Annuity Markets, Savings, and the Capital Stock,
1983
Scott
Weisbenner, Do Pension Plans with Participant Investment Choice Teach
Households to Hold More Equity? FRB, 1999.
James Poterba, Joshua Rauh, Steven Venti, David Wise,
Utility Evaluation of Risk in Retirement Saving Accounts,
NBER 9892, 2003.
Francisco J. Gomes, Exploiting Short-Run Predictability, 2003
Francisco J. Gomes and Alexander Michaelides, Life-Cycle Asset Allocation: A Model with Borrowing
Constraints, Uninsurable Labor Income Risk and Stock-Market Participation Costs,
2002
Francisco J. Gomes and Alexander Michaelides, Optimal Life-Cycle Asset Allocation: Understanding the
Empirical Evidence, 2003
Michael Haliassos, Alexander Michaelides, Portfolio Choice and Liquidity Constraints,
2000.
Vissing-Jorgensen, A. (2002), Towards an Explanation of Household Portfolio Choice
Heterogeneity: Nonfinancial Income and Participation Cost Structures,
manuscript, University of Chicago.
Scott
Fay and Erik Hurst, M. White, The Household Bankruptcy Decision, American
Economic Review, vol. 92:3, June 2002, pp. 708-718.
Wei
Fan and M. White, Personal Bankruptcy and the Level of Entrepreneurial
Activity, NBER working paper 9340. Forthcoming, Journal of
Law & Economics, November 2003.
Wenli
Li, To Forgive or Not to Forgive: An Analysis of US Consumer
Bankruptcy Choices, FRBR: Economic Quarterly, Spring 2001:
Vol. 87, No. 2.
Emily
Y. Lin and M. White, Bankruptcy and the Market for Mortgage and Home Improvement
Loans, Journal of Urban Economics, vol. 50:1, July
2001 (138-162).
Hung-jen
Wang and M. White, An Optimal Personal Bankruptcy System and Proposed
Reforms," Journal
of Legal Studies, vol. XXIX(1), January 2000, pp. 255-286. Programs and parameter values for this paper.
R.
Dammon and C. Spatt, The Optimal Trading and Pricing of Securities with
Asymmetric Capital Gains Taxes and Transaction Costs, Review
of Financial Studies, 9, 1996, 921-952.
R.
Dammon, C. Spatt, and H. Zhang, Optimal Consumption and Investment with Capital Gains Taxes,
Review of Financial Studies, 14, Fall 2001, 583-616
R.
Dammon, C. Spatt, and H. Zhang, Optimal Asset Location and Allocation with Taxable and
Tax-Deferred Investing, 2001.
Lorenzo Garlappi and J. Huang, A Reduced-Form Approach to Retirement Planning under
Constraints, 2003.
J. Huang, Portfolio Decisions with Taxable and Tax-Deferred Accounts:
A Tax-Arbitrage Approach, 2003.
James M. Poterba, Taxation, Risk-Taking, and Household Portfolio Behavior,
NBER w8340 Jun 2001.
James M. Poterba, Taxation and Portfolio Structure: Issues and Implications,
NBER w8223 Apr 2001.
James M. Poterba and Andrew Samwick, Taxation and Household Portfolio Composition: U.S. Evidence
from the 1980s and 1990s, NBER w7392 Oct 1999.
John
B. Shoven, The Location and Allocation of Assets in Pension and
Conventional Saving Accounts, NBER 7007, 1999.
John
B. Shoven and C. Sialm, Asset Location in Tax-Deferred and Conventional Savings
Accounts, NBER w7192, 1999.
John
Y. Campbell and Joao F. Cocco, Household Risk Management and Optimal Mortgage Choice,
2003
Joao
F. Cocco, Hedging House Price Risk With Incomplete Markets,
2001
Joao
F. Cocco, Portfolio Choice in the Presence of Housing,
2000
Marjorie
Flavin (2002). Owner-occupied housing in the presence of adjustment costs:
Implications for asset pricing and nondurable consumption. Working Paper, UC
San Diego.
Marjorie
Flavin and Takashi Yamashita (2002). Owner-occupied housing and the composition of the household
portfolio, American Economic Review, 345-62.
Peter
Englund, M. Hwang, and J.M. Quigley, Hedging Housing Risk,
IV.
Dynamic Contracts
L.
Ljunqvist and T. Sargent, Recursive Macroeconomic Theory, 2000, MIT
Press. Chapters 15-16.
Abreu,
D., D. Pearce, and E. Stacchetti, Optimal Cartel Equilibria with Imperfect
Monitoring, Journal of Economic Theory, (1986) 39, 251-269.
D.
Abreu, D. Pearce, and E. Stacchetti, Toward a theory of discounted repeated
games with imperfect monitoring, Econometrica, 58 (1990) 1041-1063.
Kehoe,
T., and D. Levine (1993), Debt-constrained Asset Markets, Review of Economic
Studies 60, 865-88.
Kehoe,
T., and D. Levine (2001). Liquidity Constrained Markets vs. Debt Constrained
Markets, Econometrica 69, 575-98.
Rogerson, W. Repeated Moral Hazard, Econometrica 53 (9985) 69-76.
S.E.
Spear and S. Srivastava, On repeated moral hazard with discounting, Rev.
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J.
Thomas and T. Worrall, Income fluctuation and assymmetric information: An
example of a repeated principal-agent problem, Journal of Economic Theory, 51
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Rui Albuquerque and Hugo Hopenhayn, Optimal Lending Contracts and Firm Dynamics,
September 2002. Forthcoming Review of Economic Studies.
Alvarez,
F., and U. Jermann (2000). Efficiency, Equilibrium, and Asset Pricing with Risk of
Default, Econometrica 68, 775-97.
Alvarez,
F., and U. Jermann (2001). Quantitative Asset Pricing Implications of Endogenous
Solvency Constraints, Review of Financial Studies 14,
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S. Athey, A.
Atkeson, and P. Kehoe, The optimal degree of discrection in monetary policy,
FRBM, Staff repart \#326, 2003.
R. Chang,
Credible monetary policy in an infinite horizon model: recursive approaches, Journal of Economic Theory 81 (1998),
431-461.
Cooley, T., M. Marimon, and V. Quadrini, Aggregate Consequences of Limited Contract Enforceability,
2003.
Hanno Lustig, The Market Price of Aggregate Risk and the Wealth
Distribution, 2003
Gian
Luca Clementi and Hugo A. Hopenhayn, A Theory of Financing Constraints and Firm Dynamics,
2002.
Rui,
Castro , Gian Luca Clementi and Glenn MacDonald, Investor Protection, Optimal Incentives, and Economic Growth,
2003
H. Hopenhayn
and J. Nicolini, Optimal unemployment insurance, Journal of Political Economy, 105 (1997) 412-438.
C.
Wang, Incentives, CEO Compensation and Shareholder Wealth in a Dynamic Agency
Model, Journal of Economic Theory, 75, 1997;
C. Phelan and E. Stacchetti, Sequential Equilibria in a Ramsey Tax Model,
Econometrica, 1999.
Judd, K. S.
Yeltekin, and J. Conklin, Computing
Supergame Equilibria, 2003.
Sleet, C. and S. Yeltekin, Optimal
Taxation with Endogenously Incomplete Debt Markets, 2003.
V.
Investment
Adda,
J. and R. Cooper, Dynamic Economics:
Quantitative Methods and Applications, MIT Press.
Dixit,
A. and R. Pindyck, 1994, Investment Under Uncertainty, Princeton
University Press, Princeton, NJ.
B. Q
Theory
C. Irreversibility
and Adjustment Costs
D. Taxes
and Investment