Archivio per settembre 2014



28
Set
14

Optimal time-consistent fiscal policy in an endogenous growth economy with public consumption and capital

See on Scoop.itBounded Rationality and Beyond
Abstract

In an endogenous growth model where the fiscal authority cannot commit to policy decisions beyond the current period, we explore the time-consistent optimal choice for two policy instruments: the income tax rate and the split of government spending between utility bearing consumption and productive services to firms. We show that under the time-consistent Markov policy the economy lacks any transitional dynamics and there is local and global determinacy of equilibrium. For empirically plausible parameter values we find that the Markov-perfect policy implies a higher tax rate and a larger proportion of government spending allocated to consumption than those chosen under a commitment constraint. As a result, economic growth is slightly lower under the Markov-perfect policy than under the Ramsey policy, with growth under lump-sum taxes being highest. The implication of our results is that if the private sector is aware of the government’s inability to pledge future policy decisions, then the government should impose a slightly higher tax rate and devote a higher share of public resources to consumption, with a relatively low cost in terms of growth.

See on ucm.es

Annunci
28
Set
14

Was the European sovereign crisis self-fulfilling? Empirical evidence about the drivers of market sentiments

See on Scoop.itBounded Rationality and Beyond
Abstract

We investigate the presence of self-fulfilling dynamics during the European sovereign crisis in the light of a theoretical model that we bring to the data. Our empirical framework allows us to empirically test the presence of self-fulfilling dynamics and to identify what may have driven the market sentiment during this crisis. To do so we estimate the probability of default of five European “peripheral” countries during January 2006 to September 2011 with a panel smooth threshold regression. Our estimation results suggest that (1) both the fundamentals and “animal spirit” ignited the European sovereign crisis; (2) we isolate the risk indicator through which investors’ belief coordinate.

  
See on ofce.sciences-po.fr

28
Set
14

Your brain on improv

See on Scoop.itBounded Rationality and Beyond

Musician and researcher Charles Limb wondered how the brain works during musical improvisation – so he put jazz musicians and rappers in an fMRI to find out. What he and his team found has deep implications for our understanding of creativity of all kinds.
(Filmed at TEDxMidAtlantic.)

See on ted.com

28
Set
14

Financial and Non Financial Motivation for Entrepreneurs and Employees

See on Scoop.itBounded Rationality and Beyond

It is really important for every entrepreneurs and leaders what financial and non financial motivation are best used to motivate employees and teammates?

All entrepreneurs, employees and teammates must feel exciting and motivated about what they are doing. So you like entrepreneurs and leaders must know all financial and non financial motivation and reasons why they must be full charge of positive energy all the time. If employee or one of your motivate does not feel motivated and does not have goals then he think that his job is terrible and it does not bring anything useful to people. As result, he or she leave a job and your company will lose money, because you will need to hire and recruit new person on this place. This can be repeated so many times… Also it will hit the reputation of your company in bad way, as well your image of leader will be harm. It can may cause chain reaction and some other staffs will leave you too. Moreover, good and constant financial and non financial motivation will help employees and teammates work to the best of their ability, be creative and happy to have this job and leader like you.

See on bigalexclub.com

28
Set
14

Optimal Capital Taxation and Consumer Uncertaint

See on Scoop.itBounded Rationality and Beyond
Abstract

This paper analyzes the impact of consumer uncertainty on optimal fiscal policy in a model with capital. The consumers lack confidence about the probability model that characterizes the stochastic environment and so apply a max–min operator to their optimization problem. An altruistic fiscal authority does not face this Knightian uncertainty. We show analytically that, in responding to consumer uncertainty, the government no longer sets the expected capital tax rate exactly equal to zero, as is the case in the full-confidence benchmark model. Rather, our numerical results indicate that the government chooses to subsidize capital income, albeit at a modest rate. We also show that the government responds to consumer uncertainty by smoothing the labor tax across states and by making the labor tax persistent.

  
See on fmwww.bc.edu

27
Set
14

Preliminary evidence for reduced cortical activity in experienced guitarists during performance preparation for simple scale playing

See on Scoop.itBounded Rationality and Beyond

 ABSTRACT: Research using neuroscientific techniques has shown that less cortical activity occurs in the brains of experienced musicians and athletes than in the brains of novices when they plan and prepare to perform a motor skill. We used electroencephalography to observe cortical activity in the brains of experienced and novice guitarists preparing to play a scale on the guitar. The results, presented in this research note, confirm the findings of previous research and suggest that the motor preparation of experts is more efficient than that of novices. Cortical activity in music students could therefore, if tracked longitudinally, provide an objective marker of musical skill learning and be used to inform music learning, teaching and assessment practices. 

KEY WORDS: Electroencephalography, movement-related cortical potential, motor skills, skill learning, guitar 

See on mpr-online.net

27
Set
14

The improvisatory approach to classical music performance: An empirical investigation into its characteristics and impact

See on Scoop.itBounded Rationality and Beyond

IMPROVVISARE SEMPRE!

I ricercatori hanno scoperto che gli ascoltatori si interessano alla musica classica più quando i musicisti improvvisano.
Una collaborazione di ricercatori dell’Imperial College di Londra e la Guildhall School of Music and Drama ha esaminato i segnali elettrici nel cervello dei musicisti e ascoltatori. 
Anche se l’improvvisazione non è comunemente associata con la musica classica, il nuovo studio suggerisce che l’introduzione di elementi di improvvisazione in concerti di musica classica potrebbe aumentare il coinvolgimento del pubblico.

Researchers have found that listeners engage with classical music more when musicians improvise.
A collaboration of researchers from Imperial College London and the Guildhall School of Music and Drama examined the electrical signals in the brains of musicians and listeners. 
Although improvisation is not commonly associated with classical music, the new study suggests that introducing elements of improvisation into classical concerts could increase audience engagement.

See on mpr-online.net




Time is real? I think not

settembre: 2014
L M M G V S D
« Ago   Ott »
1234567
891011121314
15161718192021
22232425262728
2930  

Commenti recenti

Lorenzo Bosio su Un testo che trascende le sue…

Inserisci il tuo indirizzo e-mail per iscriverti a questo blog e ricevere notifiche di nuovi messaggi per e-mail.

Segui assieme ad altri 1.041 follower

Latest Tweets

Annunci

%d blogger hanno fatto clic su Mi Piace per questo: