…questions about the conduct of the war, faulty intelligence, how said intelligence got into the SOTU speech, the White House outing a CIA agent, and so forth. Note: The phrase…
You searched for: label/principal-agent problem
…lefties, unless you count Scott Rosenberg. Katrina Leung, FBI employee and alleged double-agent, got bail today. If you didn’t already know it, there would be no way to tell that…
…other researchers, and thus are barely more than opinions and speculation. Here’s a nice excerpt from a randomly googled site on usage of the passive voice: The agent (the original…
The Villain of Building Energy Efficiency: Triple-Net Leases. Not Picking the Low-Hanging Fruit
…much benefit he’ll get, because tenants tend to fixate on the square-footage rental rate, which would go up. Imagine you’re a leasing agent for the building, trying to rent some…
Ricardo and his followers and Krugman
…that. In this case he understood that actual real world economic agents weren’t rational in the sense of having beliefs consistent with his model. Numerous commentators over at Krugman’s blog…
Guest post: Speaking Truth to Power
…not decline for years. The IMF is the agent of 188 principals. To be credible, it must serve the interests of all its members, not just its partners in a…
Is the Permanent Income Hypothesis Glass Half Full ?
…information about future income in consumption. This is getting somewhere. If agents forecast future income and if agents have information we don’t supply to the computer, then consumption should be…
Inflation Expectations, Credibility and Paul Volcker
…time. If we have learned that Paul Volcker was a more determined enemy of inflation than Arthur Burns and G. William Miller. We must expect that economic agents learned this…
Consumption, Real Interest Rates, and Habit Formation
Many macroeconomists use models of aggregate consumption based on utility maximization by a rational representative agent. Some models also include liquidity constrained or rule of thumb consumers, but all micro…
The G20 and the (Non)Pursuit of Financial Stability
…It can neither instruct the other regulators what to do (or not do) nor force countries to comply with new regulations.” The FSB, of course, is an agent for its…
