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Author:Ritter, Joseph A. 

Journal Article
Feeding the national accounts

A complex tracking system, the National Income and Product Accounts (NIPA) is used to measure and monitor the U.S. economy. This article surveys the main data sources currently used in the NIPA. It is not primarily an article about methodology, but focuses instead on the raw inputs to the process: Who is answering what kinds of questions? Closer acquaintance with the data sources behind the accounts highlights the considerable uncertainty about exact magnitudes of various aggregate quantities (and their growth rates) and the need for ongoing evaluation of the data-collection efforts that ...
Review , Volume 82 , Issue Mar , Pages 11-20

Journal Article
Search-theoretic models of international currency - commentary

Review , Volume 78 , Issue May , Pages 133-135

Working Paper
Commitment as investment under uncertainty

An explanation of how irreversible investment and the techniques associated with pricing real options can apply to a broad range of problems in finance, macroeconomics, and trade policy.
Working Papers (Old Series) , Paper 9606

Journal Article
School and work

National Economic Trends , Issue Jun

Journal Article
Job creation and destruction: the dominance of manufacturing

Review , Issue Sep

Working Paper
Dynamic commitment and imperfect policy rules

Considering the dynamics of commitment highlights, some neglected features of time inconsistency problems. We modify the standard rules-versus-discretion question in three ways: (1) A government that does not commit today retains the option to do so tomorrow, (2) the government's commitment capability is restricted to a class of simple rules, and (3) the government's ability to make irrevocable commitments is restricted. Three results stand out. First, the option to wait makes the incumbent regime (rules or discretion) relatively more attractive. Second, the option to wait means that ...
Working Papers , Paper 1995-015

Working Paper
Commitment as investment under uncertainty

Irreversible investment and the techniques associated with pricing real options have led to significant advances many areas. We broaden this range of applications, showing how the techniques can apply to many policy problems in finance, macroeconomics, and trade policy. With small changes, standard techniques can handle a broad range of strategic problems related to policy. The decision to commit is like the decision to make an irreversible investment. Explicitly considering and correctly valuing the option to wait makes discretion relatively more attractive, implies that increased ...
Working Papers , Paper 1995-004

Journal Article
An overstated headline

National Economic Trends , Issue Jul

Conference Paper
Search-theoretic models of international currency - commentary

Proceedings , Volume 78 , Issue May , Pages 133-135

Working Paper
Valuable jobs and uncertainty

Little attention has been given to the link between variation in a firm's circumstances and the resolution of agency problems that pervade the relationship between a firm and its employees. We construct stochastic versions of standard efficiency-wage and performance-bonding models and find that this connection has important and apparently inescapable consequences. Compensation levels depend on characteristics of the firm. The possibility of the firm's exit drive an important counterfactual prediction in both classes of model: compensation rises in dying firms. This result illustrates the need ...
Working Papers , Paper 1997-005

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