“...We investigate dynamic R&D for process innovation in a Cournot duopoly where firms may either undertake independent ventures or form a cartel for cost-reducing...”

“...This paper examines the dynamics of financial distress and in particular the mechanism of transmission of shocks from the financial sector to the real economy...”

“...This paper investigates the interactions between stock market fluctuations and monetary policy within a DSGE model for the U.S. economy. First, we design a...”

“...This paper examines the equilibrium when stock market crashes can occur and investors have heterogeneous attitudes towards crash risk. The less crash averse...”

“...This paper investigates the dynamics in a simple present discounted value asset pricing model with heterogeneous beliefs. Agents choose from a finite set of...”

“...The central variable of theories of financial frictions—the external finance premium—is unobservable. This paper distils the external finance premium from a...”

“...I examine a continuous-time intertemporal consumption and portfolio choice problem under ambiguity, where expected returns of a risky asset follow a hidden...”

“...This paper shows how to build algorithms that use graphics processing units (GPUs) installed in most modern computers to solve dynamic equilibrium models in...”

“...We develop a model in which boundedly rational agents apply technical and fundamental analysis to identify trading signals in two different speculative...”

“...Many economic decisions can be described as an option exercise or optimal stopping problem under uncertainty. Motivated by experimental evidence such as the...”