This paper provides theoretical foundations for preference discovery theory. We propose to relax the assumption that the consumer has perfect knowledge of their own preferences, so that the consumer knows only the subjective ...

For an increasing upper order hemi-continuous correspondence F selfmapping sigma-complete lattice A, we first provide tight fixed-point bounds for sufficiently large iterations on F starting from any initial point a in A. ...

This paper compares the aggregate and distributional effects of three fiscal policy instruments: government expenditures, unemployment benefits and transfers. To this end, the Diamond-Mortensen-Pissarides model of frictional ...

The paper estimates macroeconomic effects and decomposes transmission channels of quantitative easing in the United States using 15-variable Bayesian vector autoregressive model with stochastic search variable selection ...

The 2004 EU enlargement has triggered large and rapid migration movements from the new to the old member states. The scale of this outflow was unprecedented in the CEE history and its structure was also different from ...

This research analyzes factors affecting scientific success of central bankers. We combine data from the RePEc and EDIRC databases, which contain information about economic publications of authors from 182 central banks. ...

We consider feasible Heath-Jarrow-Morton framework specifications that are easily implementable in XVA engines when pricing linear and non-linear interest rate derivatives in multicurve environment. Our particular focus ...

Large international capital movements tend to be associated with strong fluctuations in asset prices and credit, contributing to domestic financial cycles and posing challenges for stabilization policies, especially in ...

Forming a monetary union implies equalization of short-term interest rates across the member states as monetary policy is delegated to a common central bank, but also leads to integration of risk-free bond markets. In this ...

This paper reevaluates the complementary symmetry hypothesis and the supporting experimental evidence. Originally the hypothesis was stated for binary risky prospects. We generalize the hypothesis to arbitrary state-contingent ...