This study investigates the effects of changes in various determinants of labor supply on the dramatic changes from the older (the 1950s and earlier) cohorts to the younger (the 1960s and later) cohorts in life-cycle labor supply behavior, and ultimately provides a model-based quantitative explanation of the recent decline in the aggregate labor supply of married women. On the basis of the Curr...

This paper challenges the growing consensus in the literature (Stone, 2005; Dodds, 2007) that medieval English peasants and manorial managers were price responsive in their production decisions. Using prices of and acreages planted with wheat, barley, and oats on 49 manors held by the bishop of Winchester from 1349-70, we estimate price elasticities of supply for each grain in aggregate and on ...

This paper aims to address supply chain partners' incentives for information sharing from an information systems design perspective. Specifically, we consider a supply chain characterized by N geographically distributed retailers who order a homogeneous product from one manufacturer. Each retailer's demand risk consists of two parts: a systematic risk part that affects all retailers and an idio...

We use generalized method of moments to estimate a rational expectations aggregate demand/aggregate supply macroeconomic model for five European economies and the United States. Our aim is to examine whether supply or demand shocks have predominated in these economies during the post-war era, and whether shocks of either type have been primarily temporary or permanent in nature. The estimation ...

The aim of this paper is to analyze the macroeconomic effects of parametric reforms. An adjusted Auerbach-Kotlikoff model is used to study the effects of decreasing replacement and contribution rates of the pension system. The first part concentrates on the macroeconomic effect of reforms. Our results indicate that reducing the replacement and contribution rates increase the capital stock and d...

in this paper, by using dynamic stochastic general equilibrium, optimal monetary rule derived for central bank of iran. monetary transmission mechanism of the model includes four equations, aggregate demand, aggregate supply, oil price and taylor rule. we have proved that dynamic structure of aggregate demand relation, regarding monetary inflation in iran, is a function of money growth rate. wi...