Journal of Economic Dynamics and Control

1979 - 2025

Current editor(s): J. Bullard, C. Chiarella, H. Dawid, C. H. Hommes, P. Klein and C. Otrok

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Volume 36, issue 12, 2012

Are spectral estimators useful for long-run restrictions in SVARs? pp. 1831-1844

Elmar Mertens

Heterogeneity in stock prices: A STAR model with multivariate transition function pp. 1845-1854

Matthijs Lof

Social interaction and conformism in a random utility model pp. 1855-1866

Emilio Barucci and Marco Tolotti

Resolution of financial distress under Chapter 11 pp. 1867-1887

Amira Annabi, Michèle Breton and Pascal François

Evaluating callable and putable bonds: An eigenfunction expansion approach pp. 1888-1908

Dongjae Lim, Lingfei Li and Vadim Linetsky

A method for solving general equilibrium models with incomplete markets and many financial assets pp. 1909-1930

Martin Evans and Viktoria Hnatkovska

Getting normalization right: Dealing with ‘dimensional constants’ in macroeconomics pp. 1931-1949

Cristiano Cantore and Paul Levine

The yield curve and the macro-economy across time and frequencies pp. 1950-1970

Luís Aguiar-Conraria, Manuel Martins and Maria Joana Soares

Optimal trade execution: A mean quadratic variation approach pp. 1971-1991

P.A. Forsyth, J.S. Kennedy, S.T. Tse and H. Windcliff

Volume 36, issue 11, 2012

Changes in the output Euler equation and asset markets participation pp. 1659-1672

Florin Bilbiie and Roland Straub

Imperfect interbank markets and the lender of last resort pp. 1673-1687

Tarishi Matsuoka

A Krylov subspace approach to large portfolio optimization pp. 1688-1699

Isabelle Bajeux-Besnainou, Wachindra Bandara and Efstathia Bura

The environmental Kuznets curve and equilibrium indeterminacy pp. 1700-1717

Esther Fernández, Rafaela Perez and Jesus Ruiz

Uncertainty and the trade-off between scale and flexibility in investment pp. 1718-1728

Graeme Guthrie

Spatial discounting, Fourier, and racetrack economy: A recipe for the analysis of spatial agglomeration models pp. 1729-1759

Takashi Akamatsu, Yuki Takayama and Kiyohiro Ikeda

Oligopolistic competition and optimal monetary policy pp. 1760-1774

Ester Faia

Global refunding and climate change pp. 1775-1795

Hans Gersbach and Ralph Winkler

Valuation of power options under Heston's stochastic volatility model pp. 1796-1813

Jerim Kim, Bara Kim, Kyoung-Sook Moon and In-Suk Wee

Life-cycle stock market participation in taxable and tax-deferred accounts pp. 1814-1829

Jie Zhou

Volume 36, issue 10, 2012

An evolutionary analysis of turnout with conformist citizens pp. 1431-1447

Massimiliano Landi and Mauro Sodini

Cycles in nonrenewable resource prices with pollution and learning-by-doing pp. 1448-1461

Ujjayant Chakravorty, Andrew Leach and Michel Moreaux

Optimal investment in learning-curve technologies pp. 1462-1476

Marco Della Seta, Sebastian Gryglewicz and Peter Kort

Nonlinear and stable perturbation-based approximations pp. 1477-1497

Wouter J. Den Haan and Joris De Wind

The suspension of the gold standard as sustainable monetary policy pp. 1498-1519

Elisa Newby

Do institutional changes affect business cycles? Evidence from Europe pp. 1520-1533

Fabio Canova, Matteo Ciccarelli and Eva Ortega

Cyclical dynamics of industrial production and employment: Markov chain-based estimates and tests pp. 1534-1550

Sumru Altug, Barış Tan and Gözde Gencer

Decreasing and increasing marginal impatience and the terms of trade in an interdependent world economy pp. 1551-1565

Ken-Ichi Hirose and Shinsuke Ikeda

Interest rate rules, endogenous cycles, and chaotic dynamics in open economies pp. 1566-1584

Marco Airaudo and Luis-Felipe Zanna

Leverage management in a bull–bear switching market pp. 1585-1599

Min Dai, Hefei Wang and Zhou Yang

Management compensation and market timing under portfolio constraints pp. 1600-1625

Vikas Agarwal, Juan-Pedro Gómez and Richard Priestley

Numerical computation of the optimal vector field: Exemplified by a fishery model pp. 1626-1658

D. Grass

Volume 36, issue 9, 2012

Lifetime investment and consumption using a defined-contribution pension scheme pp. 1303-1321

Paul Emms

Progressive services, asymptotically stagnant services, and manufacturing: Growth and structural change pp. 1322-1339

Basant Kapur

Two-sided intergenerational transfer policy and economic development: A politico-economic approach pp. 1340-1348

Katsuyuki Naito

Nonlinear expectations in speculative markets – Evidence from the ECB survey of professional forecasters pp. 1349-1363

Stefan Reitz, Jan-Christoph Rülke and Georg Stadtmann

Destabilizing optimal policies in the business cycle pp. 1364-1371

Jean-Pascal Benassy

Hierarchical information and the rate of information diffusion pp. 1372-1401

Yi Xue and Ramazan Gencay

Costly information transmission in continuous time with implications for credit rating announcements pp. 1402-1413

Hefei Wang

Maximin, viability and sustainability pp. 1414-1430

Luc Doyen and Vincent Martinet

Volume 36, issue 8, 2012

Financial markets are markets in stories: Some possible advantages of using interviews to supplement existing economic data sources pp. 1077-1087

David Tuckett

Rollover risk, network structure and systemic financial crises pp. 1088-1100

Kartik Anand, Prasanna Gai and Matteo Marsili

Individual expectations, limited rationality and aggregate outcomes pp. 1101-1120

Te Bao, Cars Hommes, Joep Sonnemans and Jan Tuinstra

Liaisons dangereuses: Increasing connectivity, risk sharing, and systemic risk pp. 1121-1141

Stefano Battiston, Domenico Delli Gatti, Mauro Gallegati, Bruce Greenwald and Joseph Stiglitz

Excess covariance and dynamic instability in a multi-asset model pp. 1142-1161

Mikhail Anufriev, Giulio Bottazzi, Matteo Marsili and Paolo Pin

Simulating and calibrating diversification against black swans pp. 1162-1175

Namwon Hyung and Casper de Vries

Animal spirits in the foreign exchange market pp. 1176-1192

Paul De Grauwe and Pablo Rovira Kaltwasser

Structural stochastic volatility in asset pricing dynamics: Estimation and model contest pp. 1193-1211

Reiner Franke and Frank Westerhoff

Improving the value at risk forecasts: Theory and evidence from the financial crisis pp. 1212-1228

Roxana Halbleib and Winfried Pohlmeier

Testing conditional asymmetry: A residual-based approach pp. 1229-1247

Philippe Lambert, Sébastien Laurent and David Veredas

The impact of a financial transaction tax on stylized facts of price returns—Evidence from the lab pp. 1248-1266

Jürgen Huber, Daniel Kleinlercher and Michael Kirchler

Leverage as a predictor for real activity and volatility pp. 1267-1283

Robert Kollmann and Stefan Zeugner

Estimation of an agent-based model of investor sentiment formation in financial markets pp. 1284-1302

Thomas Lux

Volume 36, issue 7, 2012

Regime shifts and uncertainty in pollution control pp. 939-950

Aart de Zeeuw and Amos Zemel

Dynamic portfolio choice and asset pricing with narrow framing and probability weighting pp. 951-972

Enrico De Giorgi and Shane Legg

Heterogeneous beliefs and adaptive behaviour in a continuous-time asset price model pp. 973-987

Xuezhong (Tony) He and Kai Li

Growth effects of spatial redistribution policies pp. 988-1008

Calin Arcalean, Gerhard Glomm and Ioana Schiopu

The role of model uncertainty and learning in the US postwar policy response to oil prices pp. 1009-1041

Francesca Rondina

Trade policy in a growth model with technology gap dynamics and simulations for South Africa pp. 1042-1056

Jorn Rattso and Hildegunn Stokke

Inflation, human capital and Tobin's q pp. 1057-1074

Parantap Basu, Max Gillman and Joseph Pearlman

Volume 36, issue 6, 2012

The value of monetary policy commitment under imperfect fiscal credibility pp. 813-829

Ufuk Demirel

How well does sticky information explain the dynamics of inflation, output, and real wages? pp. 830-850

Julio Carrillo

Intellectual property rights protection and endogenous economic growth revisited pp. 851-861

Rubens Cysne and David Turchick

International business cycles with complete markets pp. 862-875

Alexandre Dmitriev and Ivan Roberts

The individual life-cycle, annuity market imperfections and economic growth pp. 876-890

Ben Heijdra and Jochen Mierau

A structural model of firm and industry evolution: Evidence from Chile pp. 891-913

Murat Seker

Estimating nonlinear DSGE models by the simulated method of moments: With an application to business cycles pp. 914-938

Francisco Ruge-Murcia

Volume 36, issue 5, 2012

The stock market crash of 2008 caused the Great Recession: Theory and evidence pp. 693-707

Roger Farmer

A remark on Lin and Chang's paper ‘Consistent modeling of S&P 500 and VIX derivatives’ pp. 708-715

Jun Cheng, Meriton Ibraimi, Markus Leippold and Jin E. Zhang

Rejoinder to a remark on Lin and Chang's paper ‘Consistent modeling of S&P 500 and VIX derivatives’ pp. 716-718

Yueh-Neng Lin and Chien-Hung Chang

Explaining dispersion in foreign exchange expectations: A heterogeneous agent approach pp. 719-735

Ron Jongen, Willem Verschoor, Christian Wolff and Remco Zwinkels

Renewable resource management with stochastic recharge and environmental threats pp. 736-753

Arie Leizarowitz and Yacov Tsur

Spatial period-doubling agglomeration of a core–periphery model with a system of cities pp. 754-778

Kiyohiro Ikeda, Takashi Akamatsu and Tatsuhito Kono

Inflation dynamics and real marginal costs: New evidence from U.S. manufacturing industries pp. 779-794

Ivan Petrella and Emiliano Santoro

Optimal government spending with labor market frictions pp. 795-811

Ludger Linnemann and Andreas Schabert

Volume 36, issue 4, 2012

Pay-as-you-go or funded social security? A general equilibrium comparison pp. 455-467

Michael Kaganovich and Itzhak Zilcha

Small noise methods for risk-sensitive/robust economies pp. 468-500

Evan Anderson, Lars Hansen and Thomas Sargent

The market impact of a limit order pp. 501-522

Nikolaus Hautsch and Ruihong Huang

Learning about monetary policy rules when labor market search and matching frictions matter pp. 523-535

Takushi Kurozumi and Willem Van Zandweghe

Sustainability and substitution of exhaustible natural resources pp. 536-549

Lucas Bretschger and Sjak Smulders

S,s pricing in a dynamic equilibrium model with heterogeneous sectors pp. 550-567

Vladislav Damjanovic and Charles Nolan

Do credit market shocks drive output fluctuations? Evidence from corporate spreads and defaults pp. 568-584

Roland Meeks

The dynamics of mergers and acquisitions in oligopolistic industries pp. 585-609

Dirk Hackbarth and Jianjun Miao

Asset pricing in a Lucas fruit-tree economy with the best and worst in mind pp. 610-628

Alexander Zimper

Variety matters pp. 629-641

Oscar Pavlov and Mark Weder

Altruistic versus egoistic behavior in a Public Good game pp. 642-656

Alexander Matros

Fair demographic risk sharing in defined contribution pension systems pp. 657-669

Daniel Gabay and Martino Grasselli

The Euro/Dollar exchange rate: Chaotic or non-chaotic? A continuous time model with heterogeneous beliefs pp. 670-681

Daniela Federici and Giancarlo Gandolfo

On the optimality of age-dependent taxes and the progressive U.S. tax system pp. 682-691

Martin Gervais

Volume 36, issue 3, 2012

Vacancy posting, job separation and unemployment fluctuations pp. 315-330

Régis Barnichon

Growth and inequality: Dependence on the time path of productivity increases (and other structural changes) pp. 331-348

Manoj Atolia, Santanu Chatterjee and Stephen J Turnovsky

Optimal fiscal policy with robust control pp. 349-368

Justin Svec

The role of spatial scale in the timing of uncertain environmental policy pp. 369-382

Charles Sims and David Finnoff

Learning about learning in games through experimental control of strategic interdependence pp. 383-402

Jason Shachat and J. Swarthout

A coupled Markov chain approach to credit risk modeling pp. 403-415

David Wozabal and Ronald Hochreiter

A stochastic dynamic model of trade and growth: Convergence and diversification pp. 416-432

Partha Chatterjee and Malik Shukayev

Popularity of reinforcement-based and belief-based learning models: An evolutionary approach pp. 433-454

Marcin Dziubiński and Jaideep Roy

Volume 36, issue 2, 2012

Disinflation in a DSGE perspective: Sacrifice ratio or welfare gain ratio? pp. 169-182

Guido Ascari and Tiziano Ropele

Deep habits and the cyclical behaviour of equilibrium unemployment and vacancies pp. 183-200

Federico Di Pace and Renato Faccini

Regime switching in stochastic models of commodity prices: An application to an optimal tree harvesting problem pp. 201-219

Shan Chen and Margaret Insley

Wants and past knowledge: Growth cycles with emerging industries pp. 220-238

Ryo Horii

Evolving macroeconomic perceptions and the term structure of interest rates pp. 239-254

Athanasios Orphanides and Min Wei

Good timing: The economics of optimal stopping pp. 255-265

Graham Davis and Robert Cairns

The costs of suboptimal dynamic asset allocation: General results and applications to interest rate risk, stock volatility risk, and growth/value tilts pp. 266-293

Linda Sandris Larsen and Claus Munk

Bayesian prior elicitation in DSGE models: Macro- vs micropriors pp. 294-313

Marco Lombardi and Giulio Nicoletti

Volume 36, issue 1, 2012

Varieties of agents in agent-based computational economics: A historical and an interdisciplinary perspective pp. 1-25

Shu-Heng Chen

Learning in an estimated medium-scale DSGE model pp. 26-46

Sergey Slobodyan and Raf Wouters

Endogenous business cycle propagation and the persistence problem: The role of labor-market frictions pp. 47-62

Steven Ambler, Alain Guay and Louis Phaneuf

Income risk, macroeconomic and demographic change, and economic inequality in Japan pp. 63-84

Tomoaki Yamada

Relative risk aversion and the transmission of financial crises pp. 85-99

Melisso Boschi and Aditya Goenka

Real rigidities, productivity improvements and investment dynamics pp. 100-118

Francesco Giuli and Massimiliano Tancioni

A quantitative analysis of China's structural transformation pp. 119-135

Robert Dekle and Guillaume Vandenbroucke

A statistical equilibrium model of competitive firms pp. 136-149

Simone Alfarano, Mishael Milaković, Albrecht Irle and Jonas Kauschke

Firm-network characteristics and economic robustness to natural disasters pp. 150-167

Fanny Henriet, Stephane Hallegatte and Lionel Tabourier