Number of the records: 1
Parameter learning in production economies
SYS 0975403 LBL 01517nam-a2200421-i-4500 003 CZ-CbJVK 005 20240528224655.8 007 ta 008 191610s2019----xr-a---f------000-0-eng-- 015 $a cnb003099629 020 $a 978-80-7343-447-2 $q (Centrum pro ekonomický výzkum a doktorské studium UK ; $q brožováno) 020 $a 978-80-7344-500-3 $q (Národohospodářský ústav AV ČR ; $q brožováno) 035 $a (OCoLC)1127278673 040 $a ABA001 $b cze $e rda 041 0-
$a eng $b cze $b eng 072 -7
$a 33 $x Ekonomie $2 Konspekt $9 4 080 $a 33-028.77 $2 MRF 080 $a (048.8) $2 MRF 100 1-
$a Babiak, Mykola $7 kv2018988748 $4 aut 245 10
$a Parameter learning in production economies / $c Mykola Babiak, Roman Kozhan 264 -1
$a Prague : $b CERGE-EI, $c 2019 300 $a 49 stran : $b ilustrace ; $c 21 cm 336 $a text $b txt $2 rdacontent 337 $a bez média $b n $2 rdamedia 338 $a svazek $b nc $2 rdacarrier 490 1-
$a Working paper series, $x 1211-3298 ; $v 640 504 $a Obsahuje bibliografii a bibliografické odkazy 520 3-
$a "We examine how parameter learning amplifies the impact of macroeconomic shocks on equity prices and quantities in a standard production economy where a representative agent has Epstein-Zin preferences. An investor observes technology shocks which follow a regime-switching process but does not know the underlying model parameters governing the short-term and long-run perspectives of economic growth. We show that rational parameter learning endogenously generates long-run productivity and consumption risks that help explain a wide array of dynamic pricing phenomena. The asset pricing implications of subjective long-run risks crucially depend on the introduction of a pro-cyclical dividend process consistent with the data." In BABIAK, Mykola. Parameter learning in production economies. Prague: CERGE-EI, 2019. 49 stran. Working paper series, 640. ISBN 978-80-7343-447-2. $c okcz $u https://www.obalkyknih.cz/view?nbn=cnb003099629 $2 OKCZ - ANOTACE Z WEBU 546 $a České a anglické resumé 650 07
$a experimentální ekonomie $7 ph281891 $2 czenas 655 -7
$a studie $7 fd133597 $2 czenas 700 1-
$a Kozhan, Roman $7 pna20211118226 $4 aut 830 -0
$a Working paper series (CERGE-EI) ; $v 640 910 $a CBA001 FMT BK
Number of the records: 1