Questions tagged [academic-graduate]
Expert level questions which do not arise prior to graduate studies in economics.
69
questions
0
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0answers
3 views
how to calculate whether a series is convergent or divergent? [migrated]
If a series is given for example
1 - 1/2 + 1/4-1/8+1/16-1/32+.... up-to infinity
how to check whether the series converges or diverges?
is there any particular formula?
-1
votes
0answers
15 views
Stock index doesn't have a unit, but why media in Thailand use "points."?
Stock index doesn't have a unit, but media in Thailand use "points" as units and "decimal points." If the stock index of the day is 121.45, they wouldsay "121 points 45 ...
2
votes
0answers
153 views
In Economics, how likely is a R&R paper be finally accepted in a top field journal or top 5 journal? [closed]
Based on reliable data (if there is any), how likely is a R&R be finally accepted approximately?
Here is some numbers I found:
According to an anonymous comment, the post RR acceptance rate for ...
2
votes
1answer
324 views
Is it necessary to ask permission before including someone in the acknowledgements of a economic research paper?
Do I need permission to thank someone, even if I said “all mistakes are our own”?
Do I have to make sure that the person being thanked must read the paper, or, it is fine if he just discussed about ...
-1
votes
1answer
52 views
Thesis research advice on what statistical method to use for small sample?
I am writing my thesis in economics and trying to prove there is a correlation between 2 variables Data collected with Likert scale questionnaire (1-5 scale) I summed up the data and got scale ...
2
votes
1answer
66 views
Where to find the latest statistics of brain drain in the world?
Where to find the latest statistics of brain drain in the world?
I would appreciate your suggestions.
2
votes
1answer
130 views
What is the difference between a power law exponent and the Pareto exponent?
I use the poweRlaw package in R to fit a power law to my data. I am trying to figure out what is the value of the Pareto exponent.
Assume the probability mass function is defined by:
$$
p(x) = \...
0
votes
2answers
123 views
Log linearising (Gali textbook)
In Gali (2015)'s textbook Monetary Policy, Inflation, and the Business Cycle, variables in levels are denoted with capital letters, logged variables with lowercase letters.
However, when a log-...
6
votes
1answer
158 views
Optimal price function: application of calculus of variations
The problem, I am trying to solve is based on the paper by Rochet and Vila 1994 (see literature below). In fact, it is a variant of the seminal paper of Kyle 1985 in the finance/economics literature. ...
1
vote
1answer
567 views
What are some applications of Real Analysis in Graduate Economics?
I am interested as to what areas of masters/PhD coursework that learning the fundamentals of Real Analysis would be beneficial for?
I am aware of its applications in Econometrics proofs and analysis, ...
-1
votes
2answers
70 views
Economics PhD graduate? [closed]
What are the options for Economics PhD students after graduation? I am aware most students end up going into academia as either professors or researchers. What are the options in the corporate world ...
0
votes
1answer
92 views
0
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1answer
70 views
Getting a Paper Published
I have a nice and (I think) significant result. I would like to publish it, but I have no idea how. It's a proof of an optimal institutional structure. Who do I contact?
4
votes
1answer
185 views
Solving Leeper (1991) model
I am attempting to solve a variation of Leeper's (1991) model, which deals with the FTPL. This is what I have done so far:
The utility function is $\log(c_t)+\delta\log(M_t/p_t)$.
I obtain two ...
4
votes
2answers
237 views
Solving rational expectations model - Sims form
I am trying to solve my first ratex model and make some impulse response functions using Dynare. I am following Leeper (1991). This is what I have done so far:
The utility function is $\log(c_{t})+\...
3
votes
1answer
123 views
Value function iterations with hyperbolic discounting
I am currently working to the numerical solution of a model similar to the consumption-savings decision model with hyperbolic discounting as in Krussel et al. (2003).
Even if hyperbolic discounting ...
2
votes
1answer
102 views
A general formulation to capture price stickiness
In Wickens' macro book, page 227 (1st edition), the author states
where $p^*_t$ is the optimal price at time $t$.
The three theories he is referring to are: Taylor Model of Overlapping contracts, ...
1
vote
1answer
643 views
$\alpha$ condition and choice structure
I am trying to prove a statement that if $c_R$ is a choice structure, then it must satisfy Sen's $\alpha$ condition.
However, if $X=\{a,b,c \}$, I can construct some choice structure like $c(\{a\})=a,...
1
vote
0answers
27 views
Which of the possible monetary policy channels is there empirical evidence for?
There are many possible monetary policy channels. These channels are the different ways that changes in the Fed's interest rates can affect the economy: exchange rate depreciations, business ...
4
votes
2answers
263 views
Is there a model for how much a philosopher produce in his lifespan?
Is there a model for how much a philosopher produce in his lifespan?
If not, state the economical reason for why we pay the philosopher.
3
votes
2answers
427 views
Using web scraped data for consumer price indices
Is there information and literature regarding comparative consumer price index methods? Specifically, the web scraping method of index construction?
14
votes
1answer
409 views
Barro's (2009) rare disaster model in the AER: How to derive equation (10)?
In Barro (2009) Rare disasters, asset prices and welfare costs Barro develops a Lucas tree model with Epstein-Zin preferences.
My question concerns the paper's equation (10). In this equation Barro ...
4
votes
3answers
213 views
How to close the gap between non-Econ background and Macroeconomics
I'm a first year PhD student with mathematical finance background, and am not quite familiar with all the assumptions/setup for macroeconomics. During study I found the math relatively easy but I'm ...
6
votes
1answer
2k views
Doing a PhD Economics without background in formal theorems?
I could really use some advice. I am a new PhD student in Economics and Finance. My background is in economics, and while I did mathematics in my Master's course, it was more data-analysis based ...
4
votes
2answers
687 views
Why are some economists remarkably productive?
I'm a first year PhD student and I randomly go to different professors' websites to admire their works. Usually an economist has around 20 published papers when he/she reaches professorship. But there ...
13
votes
1answer
483 views
Stochastic growth in continuous time
Literature: See Chang (1988) for theoretical part and Achdou et
al. (2015) for numerical part respectively.
Model
Consider the following stochastic optimal growth problem in per capita notation.
\...
1
vote
1answer
47 views
How to derive formula for marginal probability of choosing nest in nested logit model?
I am trying to understand all the details of the nested logit and what confuses me is the formula for marginal probability of choosing the nest. In more details: the joint probability of individual n ...
11
votes
6answers
2k views
Did previous researchers fail to detect the hot hand simply because of a statistical fallacy?
Many basketball fans/players believe that having made several shots in a row, the next shot is more likely to go in. This is sometimes called the hot hand.
Starting (I think) with Gilovich, Mallone, ...
5
votes
1answer
107 views
If $a$ and $b$ are two pure rationalizable strategies, can $0.5a+0.5b$ fail to be a rationalizable strategy?
It is easy to see that if $\sigma$ is mixed rationalizable strategy, then a pure strategy $a$ such that $\sigma(a)>0$ is also rationalizable, but it seems not vice versa.
For a two-player finite ...
1
vote
1answer
59 views
What does "agent" mean in Pearce's formulation of extensive form rationalizability?
While reading Pearce(1984), I can't understand what "agent" $j$ and agent $ij$ mean on page 1041:
Consequently I associate a conjecture $$ c^{ij} = (c^{ij}(1), ... ,
> c^{ij}(N)) $$ with each ...
5
votes
0answers
99 views
Can repeated bidding in an auction make each player's type common knowledge?
In Benjamin Edelman, Michael Ostrovsky, and Michael Schwarz(2007), there's a hand-waving argument to justify their setting as a game of complete information:
we assume that all values are common
...
5
votes
1answer
132 views
How to write the dual problem of this maximization problem?
On this note for Shapley-Shubik model, there's a maximization problem:
$$\max_{x_{ij} \in \mathbb{R}^{M \times N}}\sum_{j \in N}\sum_{i \in M}v_{ij}x_{ij}$$
$$\text{s.t.} \ \sum_{j \in N}x_{ij} \...
2
votes
0answers
190 views
Hot Topics in Labor-Macro
I'm interested in currently hot research topics within Labor Macro. I'm only aware of the debate on the recent shift in the US Beveridge curve, and, of course, the olden but golden Shimer puzzle.
...
1
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0answers
296 views
A Perfect Bayesian Bargaining problem
Thought I'd post interesting questions that come my way to try and boost activity!
A seller and a buyer negotiate over trade of a single indivisible
good. The good is either of low quality (in which ...
9
votes
1answer
2k views
Take-it-or-leave-it PBE
I've found an interesting question looking at perfect-bayesian-equilibrium. I haven't seen a question where beliefs are not discrete.
There is a single potential buyer of an object which has zero ...
4
votes
1answer
174 views
Why does $\varepsilon_{x,p_x}^H =-s_y \sigma $?
Suppose I have two goods $x$ and $y$ and their associated prices $p_x$ and $p_y$. Income $m$. $x^H$ is Hicksian demand and $x^M$ is Marshallian demand.
Slutsky Equation:
$$\frac{\partial x^M}{\...
5
votes
1answer
341 views
Housing Supply Elasticity: Proxy for Exogenous House Price Movements
Mian and Sufi (2014) say
We use individual and zip code level data, and exploit cross-sectional variation in house price growth to estimate the impact of rising home values on borrowing and ...
3
votes
2answers
543 views
Does there always exist a consumption bundle at which the indirect utility function is the inverse of the expenditure function?
Two questions:
Given $v(\vec{p},m)$ and $e(\vec{p},\bar{U})$, is there only a single point at which these are inverses of each other?
Does an inverse always exist for a given price vector $\vec{p}$,...
9
votes
3answers
1k views
Does risk aversion cause diminishing marginal utility, or vice versa?
Let $A$ be the set of possible states of the world, or possible preferences a person could have. Let $G(A)$ be the set of "gambles" or "lotteries", i.e. the set of probability distributions over $A$. ...
7
votes
1answer
176 views
Splittet Value Function and Hamilton-Jacobi-Bellman equation
General Problem
Let $k\in\mathbb{R}_+$ be the state variable, $k=k^*$ a fixed point (saddle) and $v(k)$ a value function. The problem is, that the value function has two distinct functional forms, ...
3
votes
0answers
108 views
Solving this system of ODE
I have the following system of equations
$$ \rho V(u, \epsilon^i) = F(u, \epsilon^i) + V_u(u, \epsilon^i)g(u, V(u, \epsilon^i) + \lambda^i \left(V(u, \epsilon^{-i}) - V(u, \epsilon^i)\right)$$
with $...
4
votes
1answer
60 views
What's the status on uncertainty shocks?
Bloom (2009) analyzes the impact of uncertainty shocks, and Bloom et al (2014) propose a business cycle model based on these shocks.
It seems to be a young field, but is there any consensus on ...
2
votes
0answers
65 views
How this ex ante game induce a uniform distribution for interim stage?
In an article (see here) from the blog leisure of theory class, it is shown, in an interim stage for a Baysian game, we could run into a technical problem that the induced belief space for a player ...
4
votes
1answer
84 views
Are there some nice properties for a finite two-player game having an increasing differences utility and a decreasing differences utility?
Nice properties of the set of Nash equilibria can be shown for supermodular games(see here). But for a two-player game in which
Strategy spaces for two player, $S_1$ and $S_2$ are finite, and both ...
6
votes
1answer
117 views
Is there any article or paper that describes what Thomas Sargent thinks of New Keynesian economics/models?
Is there any article or paper that describes what Thomas Sargent thinks of New Keynesian economics/models?
I am asking this question, because we all know what Thomas Sargent thinks of Old Keynesian ...
6
votes
1answer
135 views
Gali and van Rens: The Vanishing Procyclicality of Labor Productivity
Let's see how questions like the following are taken here.
Gali and van Rens, 2014 show that empirically, the correlation between $Y, Y/L$ has been declining over time. In fact, it only was a "real ...
8
votes
2answers
300 views
Solving Kaplan and Menzio: Shopping Time
Kaplan and Menzio's shopping time model is a search&matching unemployment model where we, for a steady state equilibrium, need to determine to variables:
$J$: Value of a worker
$u$: unemployment ...
8
votes
1answer
389 views
Muth exposition of the rational expectations hypothesis
I am reading in statistical decision theory and stumbled upon the rational expectations literature (rationality with incomplete information->dynamic problem->N.L Stokey->husband). The assumption that ...
4
votes
3answers
257 views
Scaling Adjustment Costs
Take a cont. diff, convex and increasing cost function $c(X)$. Say you start with a stock $K$, and want to (dis)invest $I$. Many adjustment cost functions (for example, the first example on page 2 ...
3
votes
1answer
509 views
What is an IOU?
I'm reading a paper right now that refers to divisible and one-period IOUs, but doesn't explain what the shorthand stands for.
I understand it's a unit of payment, and guess that is the same "thing" ...