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Results 1 - 10
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2,754
Income and Wealth Heterogeneity in the Macroeconomy,
- Journal of Political Economy
, 1998
"... How do movements in the distribution of income and wealth affect the macroeconomy? We analyze this question using a calibrated version of the stochastic growth model with partially uninsurable idiosyncratic risk and movements in aggregate productivity. Our main finding is that, in the stationary st ..."
Abstract
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Cited by 678 (11 self)
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stochastic equilibrium, the behavior of the macroeconomic aggregates can be almost perfectly described using only the mean of the wealth distribution. This result is robust to substantial changes in both parameter values and model specification. Our benchmark model, whose only difference from
Equilibrium existence and approximation for incomplete market models with substantial heterogeneity
, 2013
"... Abstract This paper contains an analysis of incomplete market models with finitely but arbitrarily many heterogeneous agents. We discuss the mathematical foundation for equilibrium conditions which leads to two findings. First, we establish existence of equilibria for small and large risks. Second, ..."
Abstract
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Cited by 3 (1 self)
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Abstract This paper contains an analysis of incomplete market models with finitely but arbitrarily many heterogeneous agents. We discuss the mathematical foundation for equilibrium conditions which leads to two findings. First, we establish existence of equilibria for small and large risks. Second
Equilibrium Existence and Approximation for Incomplete Market Models with Substantial Heterogeneity ∗
, 2012
"... We analyze incomplete markets models with finitely but arbitrarily many heterogeneous agents. First, we develop a simple but general solution technique which handles many state and choice variables for each agent and thus an extremely high-dimensional state space. The method is based on perturbation ..."
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We analyze incomplete markets models with finitely but arbitrarily many heterogeneous agents. First, we develop a simple but general solution technique which handles many state and choice variables for each agent and thus an extremely high-dimensional state space. The method is based
The Construct of Resilience: A Critical Evaluation and Guidelines for Future Work.
- Child Development,
, 2000
"... This paper presents a critical appraisal of resilience, a construct connoting the maintenance of positive adaptation by individuals despite experiences of significant adversity. As empirical research on resilience has burgeoned in recent years, criticisms have been levied at work in this area. Thes ..."
Abstract
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Cited by 495 (8 self)
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. These critiques have generally focused on ambiguities in definitions and central terminology; heterogeneity in risks experienced and competence achieved by individuals viewed as resilient; instability of the phenomenon of resilience; and concerns regarding the usefulness of resilience as a theoretical construct
Parity-Based Loss Recovery for Reliable Multicast Transmission
"... We investigate how FEC (Forward Error Correction) can be combined with ARQ (Automatic Repeat Request) to achieve scalable reliable multicast transmission. We consider the two scenarios where FEC is introduced as a transparent layer underneath a reliable multicast layer that uses ARQ, and where FEC a ..."
Abstract
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Cited by 335 (19 self)
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or heterogeneous loss) and loss rates for up to 10 6 receivers. Our results show that introducing FEC as a layer below ARQ can improve multicast transmission efficiency and scalability and that there are substantial additional improvements when the two are integrated.
Frictionless commerce? a comparison of internet and conventional retailers
- Management Science
, 2000
"... There have been many claims that the Internet represents a new nearly “frictionless market. ” Our research empirically analyzes the characteristics of the Internet as a channel for two categories of homogeneous products—books and CDs. Using a data set of over 8,500 price observations collected over ..."
Abstract
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Cited by 321 (3 self)
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posted by different Internet retailers we find substantial dispersion. Internet retailer prices differ by an average of 33 % for books and 25 % for CDs. However, when we weight these prices by proxies for market share, we find dispersion is lower in Internet channels than in conventional channels
Clustering by compression
- IEEE Transactions on Information Theory
, 2005
"... Abstract—We present a new method for clustering based on compression. The method does not use subject-specific features or background knowledge, and works as follows: First, we determine a parameter-free, universal, similarity distance, the normalized compression distance or NCD, computed from the l ..."
Abstract
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Cited by 297 (25 self)
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, we determine a dendrogram (ternary tree) by a new quartet method and a fast heuristic to implement it. The method is implemented and available as public software, and is robust under choice of different compressors. To substantiate our claims of universality and robustness, we report evidence
Baby Boomer Retirement Security: the Role of Planning, Financial Literacy, and Housing Wealth
, 2006
"... Recent research on wealth and household finances seeks to blend neoclassical models with an understanding of real-world imperfections to answer questions about why some people save and others do not. This paper focuses on Baby Boomers standing on the verge of retirement, many of whom have saved litt ..."
Abstract
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Cited by 236 (68 self)
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and economic literacy. We show that the distribution of net worth among Early Baby Boomers is quite skewed; those in the 75th percentile had over 10 times the net worth ($400K) of households in the bottom 25th percentile ($37K). There is substantial heterogeneity in wealth within this cohort: the median high
The Cyclical Behavior of Equilibrium Unemployment and Vacancies with . . .
- AMERICAN ECONOMIC REVIEW
, 2008
"... In this paper, we extend the basic Mortensen-Pissarides search and matching model along two dimensions. First, we allow for ex-ante heterogeneity between workers. Second, two technology shocks, neutral and investment-specific, are the driving forces of the economy. Specifically, we integrate the fra ..."
Abstract
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Cited by 256 (14 self)
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for the cyclical behavior of labor market variables in the aggregate and for each demographic group. We show that the response of unemployment to changes in taxes or unemployment insurance benefits is substantially reduced in the model with worker heterogeneity.
Private equity performance: Returns, persistence and capital flows
, 2003
"... This paper investigates the performance and capital inflows of private equity partnerships. Average fund returns (net of fees) approximately equal the S&P 500 although there is substantial heterogeneity across funds. Returns persist strongly across different funds raised by a partnership. Better ..."
Abstract
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Cited by 184 (16 self)
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This paper investigates the performance and capital inflows of private equity partnerships. Average fund returns (net of fees) approximately equal the S&P 500 although there is substantial heterogeneity across funds. Returns persist strongly across different funds raised by a partnership
Results 1 - 10
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2,754
