메뉴 건너뛰기




Volumn , Issue , 2008, Pages

The economics of inaction: Stochastic control models with fixed costs

(1)  Stokey, Nancy L a  

a NONE

Author keywords

[No Author keywords available]

Indexed keywords


EID: 84884067325     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Book
Times cited : (46)

References (128)
  • 1
    • 0001537962 scopus 로고
    • Optimal investment under uncertainty
    • Abel, A. B. 1983. Optimal investment under uncertainty. American Economic Review 73: 228-33.
    • (1983) American Economic Review , vol.73 , pp. 228-233
    • Abel, A.B.1
  • 2
    • 0001412529 scopus 로고
    • A stochastic model of investment, marginal q, and the market value of the firm
    • Abel, A. B. 1985. A stochastic model of investment, marginal q, and the market value of the firm. International Economic Review 26: 305-22.
    • (1985) International Economic Review , vol.26 , pp. 305-322
    • Abel, A.B.1
  • 3
    • 0001320055 scopus 로고
    • A unified model of investment under uncertainty
    • Abel, A. B., and J. C. Eberly. 1994. A unified model of investment under uncertainty. American Economic Review 84: 1369-84.
    • (1994) American Economic Review , vol.84 , pp. 1369-1384
    • Abel, A.B.1    Eberly, J.C.2
  • 4
    • 0038876838 scopus 로고    scopus 로고
    • Optimal investment with costly reversibility
    • Abel, A. B., and J. C. Eberly. 1996. Optimal investment with costly reversibility. Review of Economic Studies 63: 581-593.
    • (1996) Review of Economic Studies , vol.63 , pp. 581-593
    • Abel, A.B.1    Eberly, J.C.2
  • 5
    • 0031138798 scopus 로고    scopus 로고
    • An exact solution for the investment and value of a firmfacing uncertainty, adjustment costs, and irreversibility
    • Abel, A. B., and J. C. Eberly. 1997. An exact solution for the investment and value of a firmfacing uncertainty, adjustment costs, and irreversibility. Journal of Economic Dynamics and Control 21: 831-52.
    • (1997) Journal of Economic Dynamics and Control , vol.21 , pp. 831-852
    • Abel, A.B.1    Eberly, J.C.2
  • 6
    • 0033473733 scopus 로고    scopus 로고
    • The effects of irreversibility and uncertainty on capital accumulation
    • Abel, A. B., and J. C. Eberly. 1999. The effects of irreversibility and uncertainty on capital accumulation. Journal of Monetary Economics 44: 339-77.
    • (1999) Journal of Monetary Economics , vol.44 , pp. 339-377
    • Abel, A.B.1    Eberly, J.C.2
  • 8
    • 84884098789 scopus 로고    scopus 로고
    • Optimal pricing under stochastic inflation: State-dependent (s , S) policies
    • Working Paper 0127. Department of Economics, Vanderbilt University
    • Ahlin, C. R. 2001. Optimal pricing under stochastic inflation: State-dependent (s , S) policies. Working Paper 0127. Department of Economics, Vanderbilt University.
    • (2001)
    • Ahlin, C.R.1
  • 9
    • 84883953449 scopus 로고    scopus 로고
    • Financial innovation and the transactions demand for cash. NBER Working Paper 13416
    • National Bureau of Economic Research, Cambridge, Mass
    • Alvarez, F., and F. Lippi. 2007. Financial innovation and the transactions demand for cash. NBER Working Paper 13416. National Bureau of Economic Research, Cambridge, Mass.
    • (2007)
    • Alvarez, F.1    Lippi, F.2
  • 10
    • 84863540765 scopus 로고    scopus 로고
    • Search and rest unemployment
    • NBER Working Paper 13772. National Bureau of Economic Research, Cambridge, Mass
    • Alvarez, F., and R. Shimer. 2008. Search and rest unemployment. NBER Working Paper 13772. National Bureau of Economic Research, Cambridge, Mass.
    • (2008)
    • Alvarez, F.1    Shimer, R.2
  • 11
    • 0000310548 scopus 로고    scopus 로고
    • Dynamic programming with homogeneous functions
    • Alvarez, F., and N. L. Stokey. 1998. Dynamic programming with homogeneous functions. Journal of Economic Theory 82: 167-89.
    • (1998) Journal of Economic Theory , vol.82 , pp. 167-189
    • Alvarez, F.1    Stokey, N.L.2
  • 12
    • 77949787155 scopus 로고
    • Optimal capital policy with irreversible investment
    • In J. N. Wolfe, ed., Value, capital and growth. Chicago: Aldine Publishing Company
    • Arrow, K. J. 1968. Optimal capital policy with irreversible investment. In J. N. Wolfe, ed., Value, capital and growth. Chicago: Aldine Publishing Company.
    • (1968)
    • Arrow, K.J.1
  • 13
    • 0016153482 scopus 로고
    • Environmental preservation, uncertainty, and irreversibility
    • Arrow, K. J., and A. C. Fisher. 1974. Environmental preservation, uncertainty, and irreversibility. Quarterly Journal of Economics 88: 312-19.
    • (1974) Quarterly Journal of Economics , vol.88 , pp. 312-319
    • Arrow, K.J.1    Fisher, A.C.2
  • 14
    • 34648858588 scopus 로고    scopus 로고
    • Lumpy investment in dynamic general equilibrium
    • Working paper, Massachusetts Institute of Technology, Cambridge
    • Bachmann, R., R. J. Caballero, and E. M. R. A. Engel. 2006. Lumpy investment in dynamic general equilibrium. Working paper, Massachusetts Institute of Technology, Cambridge.
    • (2006)
    • Bachmann, R.1    Caballero, R.J.2    Engel, E.M.R.A.3
  • 15
    • 0004202628 scopus 로고
    • The elements of integration
    • New York: Wiley
    • Bartle, R. G. 1966. The elements of integration. New York: Wiley.
    • (1966)
    • Bartle, R.G.1
  • 16
    • 84883977590 scopus 로고
    • Real analysis, second edition
    • New York: Macmillan
    • Bartle, R. G. 1976. Real analysis, second edition. New York: Macmillan.
    • (1976)
    • Bartle, R.G.1
  • 17
    • 0003677820 scopus 로고    scopus 로고
    • Capital theory, equilibrium analysis and recursive utility
    • Malden, Mass.: Blackwell
    • Becker, R. A., and J. H. Boyd III. 1997. Capital theory, equilibrium analysis and recursive utility. Malden, Mass.: Blackwell.
    • (1997)
    • Becker, R.A.1    Boyd, J.H.2
  • 18
    • 0003787146 scopus 로고
    • Dynamic programming
    • Princeton, N.J.: Princeton University Press
    • Bellman, R. 1957. Dynamic programming. Princeton, N.J.: Princeton University Press.
    • (1957)
    • Bellman, R.1
  • 19
    • 84959805365 scopus 로고
    • Firing costs and labour demand: How bad is Eurosclerosis?
    • Bentolila, S., and G. Bertola. 1990. Firing costs and labour demand: How bad is Eurosclerosis? Review of Economic Studies 57: 381-402.
    • (1990) Review of Economic Studies , vol.57 , pp. 381-402
    • Bentolila, S.1    Bertola, G.2
  • 20
    • 0000748484 scopus 로고
    • Kinked adjustment costs and aggregate dynamics
    • In O. J. Blanchard and S. Fischer, eds., NBER Macroeconomics Annual 5, Cambridge, Mass.: MIT Press
    • Bertola, G., and R. J. Caballero. 1990. Kinked adjustment costs and aggregate dynamics. In O. J. Blanchard and S. Fischer, eds., NBER Macroeconomics Annual 5, Cambridge, Mass.: MIT Press.
    • (1990)
    • Bertola, G.1    Caballero, R.J.2
  • 22
    • 0003407041 scopus 로고
    • Convergence of probability measures
    • New York: John Wiley & Sons
    • Billingsley, P. 1968. Convergence of probability measures. New York: John Wiley & Sons.
    • (1968)
    • Billingsley, P.1
  • 23
    • 0004302610 scopus 로고
    • Probability and measure, third edition
    • New York: John Wiley & Sons
    • Billingsley, P. 1995. Probability and measure, third edition. New York: John Wiley & Sons.
    • (1995)
    • Billingsley, P.1
  • 24
    • 4544260608 scopus 로고    scopus 로고
    • Some evidence on the importance of sticky prices
    • Bils, M., and P. J. Klenow. 2004. Some evidence on the importance of sticky prices. Journal of Political Economy 112(5): 947-85.
    • (2004) Journal of Political Economy , vol.112 , Issue.5 , pp. 947-985
    • Bils, M.1    Klenow, P.J.2
  • 25
    • 0003400560 scopus 로고    scopus 로고
    • Handbook of Brownian motion-Facts and formulae, second edition
    • Boston: Birkhauser
    • Borodin, A. N., and P. Salminen. 2002. Handbook of Brownian motion-Facts and formulae, second edition. Boston: Birkhauser.
    • (2002)
    • Borodin, A.N.1    Salminen, P.2
  • 26
    • 84883956541 scopus 로고
    • Probability. Reading, Mass.: Addison-Wesley
    • Republished in 1992 by the Society for Industrial and Applied Mathematics, Philadelphia
    • Breiman, L. 1968. Probability. Reading, Mass.: Addison-Wesley. Republished in 1992 by the Society for Industrial and Applied Mathematics, Philadelphia.
    • (1968)
    • Breiman, L.1
  • 27
    • 0001603924 scopus 로고
    • Evaluating natural resource investments
    • Brennan, M., and E. Schwartz. 1985. Evaluating natural resource investments. Journal of Business 58: 135-57.
    • (1985) Journal of Business , vol.58 , pp. 135-157
    • Brennan, M.1    Schwartz, E.2
  • 28
    • 84963090949 scopus 로고
    • Expenditures on durable goods: A case for slow adjustment
    • Caballero, R. J. 1990. Expenditures on durable goods: A case for slow adjustment. Quarterly Journal of Economics 105: 727-43.
    • (1990) Quarterly Journal of Economics , vol.105 , pp. 727-743
    • Caballero, R.J.1
  • 29
    • 85055295231 scopus 로고
    • Durable goods: an explanation for their slow adjustment
    • Caballero, R. J. 1993. Durable goods: an explanation for their slow adjustment. Journal of Political Economy 101: 351-84.
    • (1993) Journal of Political Economy , vol.101 , pp. 351-384
    • Caballero, R.J.1
  • 30
    • 0000898092 scopus 로고    scopus 로고
    • Aggregate investment
    • In Handbook of macroeconomics, vol. 1B. J. B. Taylor and M. Woodford, eds. Amsterdam: Elsevier Science
    • Caballero, R. J. 1999. Aggregate investment. In Handbook of macroeconomics, vol. 1B. J. B. Taylor and M. Woodford, eds. Amsterdam: Elsevier Science.
    • (1999)
    • Caballero, R.J.1
  • 31
    • 0001202176 scopus 로고
    • Dynamic (S, s) economies
    • Reprinted in Sheshinski and Weiss (1993)
    • Caballero, R. J., and E. M. R. A. Engel. 1991. Dynamic (S, s) economies. Econometrica 59: 1659-86. Reprinted in Sheshinski and Weiss (1993).
    • (1991) Econometrica , vol.59 , pp. 1659-1686
    • Caballero, R.J.1    Engel, E.M.R.A.2
  • 32
    • 0009019623 scopus 로고
    • Heterogeneity and output fluctuations in a dynamic menucost model
    • Caballero, R. J., and E. M. R. A. Engel. 1993. Heterogeneity and output fluctuations in a dynamic menucost model. Review of Economic Studies 60: 95-119.
    • (1993) Review of Economic Studies , vol.60 , pp. 95-119
    • Caballero, R.J.1    Engel, E.M.R.A.2
  • 33
    • 0000047175 scopus 로고    scopus 로고
    • Explaining investment dynamics in U.S. manufacturing: A generalized (S, s) approach
    • Caballero, R. J., and E. M. R. A. Engel. 1999. Explaining investment dynamics in U.S. manufacturing: A generalized (S, s) approach. Econometrica 67: 783-826.
    • (1999) Econometrica , vol.67 , pp. 783-826
    • Caballero, R.J.1    Engel, E.M.R.A.2
  • 34
    • 70350407448 scopus 로고    scopus 로고
    • Price stickiness in Ss models: New interpretations of old results
    • Cowles Foundation Discussion Paper 1603, Yale University, New Haven, Conn
    • Caballero, R. J., and E. M. R. A. Engel. 2007. Price stickiness in Ss models: New interpretations of old results. Cowles Foundation Discussion Paper 1603, Yale University, New Haven, Conn.
    • (2007)
    • Caballero, R.J.1    Engel, E.M.R.A.2
  • 35
    • 0031466127 scopus 로고    scopus 로고
    • Aggregate employment dynamics: Building from microeconomic evidence
    • Caballero, R. J., E. M. R. A. Engel, and J. Haltiwanger. 1997. Aggregate employment dynamics: Building from microeconomic evidence. American Economic Review 87: 115-37.
    • (1997) American Economic Review , vol.87 , pp. 115-137
    • Caballero, R.J.1    Engel, E.M.R.A.2    Haltiwanger, J.3
  • 36
    • 48749143178 scopus 로고
    • Staggered prices in a utility-maximizing framework
    • Calvo, G. 1983. Staggered prices in a utility-maximizing framework. Journal of Monetary Economics 12: 383-98.
    • (1983) Journal of Monetary Economics , vol.12 , pp. 383-398
    • Calvo, G.1
  • 37
    • 0012261280 scopus 로고    scopus 로고
    • Aggregate employment fluctuations with microeconomic asymmetries
    • Campbell, J. R., and J. D. M. Fisher. 2000a. Aggregate employment fluctuations with microeconomic asymmetries. American Economic Review 90: 1323-45.
    • (2000) American Economic Review , vol.90 , pp. 1323-1345
    • Campbell, J.R.1    Fisher, J.D.M.2
  • 38
    • 11844288687 scopus 로고    scopus 로고
    • Idiosyncratic risk and aggregate employment dynamics
    • NBER Working Paper 7936. National Bureau of Economic Research, Cambridge, Mass
    • Campbell, J. R., and J. D. M. Fisher. 2000b. Idiosyncratic risk and aggregate employment dynamics. NBER Working Paper 7936. National Bureau of Economic Research, Cambridge, Mass.
    • (2000)
    • Campbell, J.R.1    Fisher, J.D.M.2
  • 39
    • 0000726697 scopus 로고
    • State-dependent pricing and the dynamics of money and output
    • Reprinted in Sheshinski and Weiss (1993)
    • Caplin, A. S., and J. Leahy. 1991. State-dependent pricing and the dynamics of money and output. Quarterly Journal of Economics 106: 683-708. Reprinted in Sheshinski and Weiss (1993).
    • (1991) Quarterly Journal of Economics , vol.106 , pp. 683-708
    • Caplin, A.S.1    Leahy, J.2
  • 40
    • 4544259886 scopus 로고
    • Sectoral shocks, learning, and aggregate fluctuations
    • Caplin, A. S., and J. Leahy. 1993. Sectoral shocks, learning, and aggregate fluctuations. Review of Economic Studies 60: 777-94.
    • (1993) Review of Economic Studies , vol.60 , pp. 777-794
    • Caplin, A.S.1    Leahy, J.2
  • 41
    • 0000949914 scopus 로고    scopus 로고
    • Aggregation and optimization with state-dependent pricing
    • Caplin, A. S., and J. Leahy. 1997. Aggregation and optimization with state-dependent pricing. Econometrica 65: 601-25.
    • (1997) Econometrica , vol.65 , pp. 601-625
    • Caplin, A.S.1    Leahy, J.2
  • 42
    • 84884028119 scopus 로고    scopus 로고
    • Durable goods cycles. NBER Working Paper 6987
    • National Bureau of Economic Research, Cambridge, Mass
    • Caplin, A. S., and J. Leahy. 1999. Durable goods cycles. NBER Working Paper 6987. National Bureau of Economic Research, Cambridge, Mass.
    • (1999)
    • Caplin, A.S.1    Leahy, J.2
  • 43
    • 0000726694 scopus 로고
    • Menu costs and the neutrality of money
    • Reprinted in Sheshinski and Weiss (1993)
    • Caplin, A. S., and D. F. Spulber. 1987. Menu costs and the neutrality of money. Quarterly Journal of Economics 102: 703-25. Reprinted in Sheshinski and Weiss (1993).
    • (1987) Quarterly Journal of Economics , vol.102 , pp. 703-725
    • Caplin, A.S.1    Spulber, D.F.2
  • 44
    • 33644583649 scopus 로고    scopus 로고
    • Consumption commitments: Neoclassical foundations for habit formation
    • NBER Working Paper 10970. National Bureau of Economic Research, Cambridge, Mass
    • Chetty, R., and A. Szeidl. 2004. Consumption commitments: Neoclassical foundations for habit formation. NBER Working Paper 10970. National Bureau of Economic Research, Cambridge, Mass.
    • (2004)
    • Chetty, R.1    Szeidl, A.2
  • 45
    • 34249858533 scopus 로고    scopus 로고
    • Consumption commitments and risk preferences
    • Chetty, R., and A. Szeidl. 2007. Consumption commitments and risk preferences. Quarterly Journal of Economics 122: 831-77.
    • (2007) Quarterly Journal of Economics , vol.122 , pp. 831-877
    • Chetty, R.1    Szeidl, A.2
  • 46
    • 0003937712 scopus 로고
    • A course in probability theory, second edition
    • New York: Academic Press
    • Chung, K. L. 1974. A course in probability theory, second edition. New York: Academic Press.
    • (1974)
    • Chung, K.L.1
  • 47
    • 0004244071 scopus 로고
    • Introduction to stochastic integration
    • Boston: Birkhauser
    • Chung, K. L., and R. J. Williams. 1990. Introduction to stochastic integration. Boston: Birkhauser.
    • (1990)
    • Chung, K.L.1    Williams, R.J.2
  • 48
    • 0003745958 scopus 로고
    • Introduction to stochastic processes
    • Englewood Cliffs, N.J.: Prentice-Hall
    • Cinlar, E. 1975. Introduction to stochastic processes. Englewood Cliffs, N.J.: Prentice-Hall.
    • (1975)
    • Cinlar, E.1
  • 49
    • 25844509862 scopus 로고    scopus 로고
    • Portfolio choice in the presence of housing
    • Cocco, J. F. 2005. Portfolio choice in the presence of housing. Review of Financial Studies 18: 535-67.
    • (2005) Review of Financial Studies , vol.18 , pp. 535-567
    • Cocco, J.F.1
  • 50
    • 0017995758 scopus 로고
    • Existence of optimal simple policies for discounted-cost inventory and cash management in continuous time
    • Constantinides, G. M., and S. F. Richard. 1978. Existence of optimal simple policies for discounted-cost inventory and cash management in continuous time. Operations Research 26: 620-36.
    • (1978) Operations Research , vol.26 , pp. 620-636
    • Constantinides, G.M.1    Richard, S.F.2
  • 51
    • 33847554918 scopus 로고
    • The valuation of options for alternative stochastic processes
    • Cox, J. C., and S. A. Ross. 1976. The valuation of options for alternative stochastic processes. Journal of Financial Economics 3: 145-66.
    • (1976) Journal of Financial Economics , vol.3 , pp. 145-166
    • Cox, J.C.1    Ross, S.A.2
  • 53
    • 84883905514 scopus 로고    scopus 로고
    • (S, s) pricing in a general equilibrium model with heterogeneous sectors
    • Working paper, University of St. Andrews, Fife, Scotland
    • Damjanovic, V., and C. Nolan, 2007. (S, s) pricing in a general equilibrium model with heterogeneous sectors. Working paper, University of St. Andrews, Fife, Scotland.
    • (2007)
    • Damjanovic, V.1    Nolan, C.2
  • 54
    • 0000799115 scopus 로고    scopus 로고
    • A dynamic economy with costly price adjustments
    • Danziger, L. 1999. A dynamic economy with costly price adjustments. American Economic Review 89: 878-901.
    • (1999) American Economic Review , vol.89 , pp. 878-901
    • Danziger, L.1
  • 55
    • 0003678642 scopus 로고    scopus 로고
    • Job creation and destruction
    • Cambridge, Mass.: MIT Press
    • Davis, S. J., J. C. Haltiwanger, and S. Schuh. 1996. Job creation and destruction. Cambridge, Mass.: MIT Press.
    • (1996)
    • Davis, S.J.1    Haltiwanger, J.C.2    Schuh, S.3
  • 56
    • 0000425149 scopus 로고
    • Analytical approximations in models of hysteresis
    • Dixit, A. K. 1991a. Analytical approximations in models of hysteresis. Review of Economic Studies 58: 141-51.
    • (1991) Review of Economic Studies , vol.58 , pp. 141-151
    • Dixit, A.K.1
  • 57
    • 0000242655 scopus 로고
    • A simplified treatment of the theory of optimal regulation of Brownian motion
    • Reprinted in Sheshinski and Weiss (1993)
    • Dixit, A. K. 1991b. A simplified treatment of the theory of optimal regulation of Brownian motion. Journal of Economic Dynamics and Control 15: 657-73. Reprinted in Sheshinski and Weiss (1993).
    • (1991) Journal of Economic Dynamics and Control , vol.15 , pp. 657-673
    • Dixit, A.K.1
  • 59
    • 0003769560 scopus 로고
    • The art of smooth pasting
    • Oxon, U.K.: Routledge
    • Dixit, A. K. 1993. The art of smooth pasting. Oxon, U.K.: Routledge.
    • (1993)
    • Dixit, A.K.1
  • 60
    • 0042446816 scopus 로고
    • Irreversible investment with uncertainty and scale economies
    • Dixit, A. K. 1995. Irreversible investment with uncertainty and scale economies. Journal of Economic Dynamics and Control 19: 327-50.
    • (1995) Journal of Economic Dynamics and Control , vol.19 , pp. 327-350
    • Dixit, A.K.1
  • 61
    • 84891010016 scopus 로고
    • Investment under uncertainty
    • Princeton, N.J.: Princeton University Press
    • Dixit, A. K., and R. S. Pindyck. 1994. Investment under uncertainty. Princeton, N.J.: Princeton University Press.
    • (1994)
    • Dixit, A.K.1    Pindyck, R.S.2
  • 62
    • 0001336356 scopus 로고    scopus 로고
    • Capital adjustment patterns in manufacturing plants
    • Doms, M. E., and T. Dunne. 1998. Capital adjustment patterns in manufacturing plants. Review of Economic Dynamics 1: 409-29.
    • (1998) Review of Economic Dynamics , vol.1 , pp. 409-429
    • Doms, M.E.1    Dunne, T.2
  • 63
    • 0040322024 scopus 로고    scopus 로고
    • State-dependent pricing and the general equilibrium dynamics of money and output
    • Dotsey, M., R. G. King, and A. L. Wolman. 1999. State-dependent pricing and the general equilibrium dynamics of money and output. Quarterly Journal of Economics 114: 655-90.
    • (1999) Quarterly Journal of Economics , vol.114 , pp. 655-690
    • Dotsey, M.1    King, R.G.2    Wolman, A.L.3
  • 64
    • 0003741328 scopus 로고
    • Security markets: Stochastic models
    • New York: Academic Press
    • Duffie, D. 1988. Security markets: Stochastic models. New York: Academic Press.
    • (1988)
    • Duffie, D.1
  • 65
    • 0004018246 scopus 로고    scopus 로고
    • Dynamic asset pricing theory
    • Princeton, N.J.: Princeton University Press
    • Duffie, D. 1996. Dynamic asset pricing theory. Princeton, N.J.: Princeton University Press.
    • (1996)
    • Duffie, D.1
  • 66
    • 0000822794 scopus 로고
    • Super contact and related optimality conditions
    • Dumas, B. 1991. Super contact and related optimality conditions. Journal of Economic Dynamics and Control 15: 675-85.
    • (1991) Journal of Economic Dynamics and Control , vol.15 , pp. 675-685
    • Dumas, B.1
  • 67
    • 84937319609 scopus 로고
    • Adjustment of consumers' durables stocks: Evidence from automobile purchases
    • Eberly, J. C. 1994. Adjustment of consumers' durables stocks: Evidence from automobile purchases. Journal of Political Economy 102: 403-36.
    • (1994) Journal of Political Economy , vol.102 , pp. 403-436
    • Eberly, J.C.1
  • 68
    • 0003421261 scopus 로고
    • An introduction to probability theory and its applications, vol. I, third edition
    • New York: John Wiley & Sons
    • Feller, W. 1968. An introduction to probability theory and its applications, vol. I, third edition. New York: John Wiley & Sons.
    • (1968)
    • Feller, W.1
  • 69
    • 0003421261 scopus 로고
    • An introduction to probability theory and its applications, vol. II, second edition
    • New York: John Wiley & Sons
    • Feller, W. 1971. An introduction to probability theory and its applications, vol. II, second edition. New York: John Wiley & Sons.
    • (1971)
    • Feller, W.1
  • 71
    • 8744259830 scopus 로고    scopus 로고
    • A model of housing in the presence of adjustment costs: A structural interpretation of habit persistence
    • NBERWorking Paper 10458. National Bureau of Economic Research, Cambridge, Mass
    • Flavin, M., and S. Nakagawa. 2004. A model of housing in the presence of adjustment costs: A structural interpretation of habit persistence. NBERWorking Paper 10458. National Bureau of Economic Research, Cambridge, Mass.
    • (2004)
    • Flavin, M.1    Nakagawa, S.2
  • 72
    • 0003923089 scopus 로고
    • Deterministic and stochastic optimal control
    • Berlin: Springer-Verlag
    • Fleming, W. H., and R. W. Rishel. 1975. Deterministic and stochastic optimal control. Berlin: Springer-Verlag.
    • (1975)
    • Fleming, W.H.1    Rishel, R.W.2
  • 73
    • 0003423896 scopus 로고
    • Controlled Markov processes and viscosity solutions
    • New York: Springer-Verlag
    • Fleming, W. H., and H. Soner. 1993. Controlled Markov processes and viscosity solutions. New York: Springer-Verlag.
    • (1993)
    • Fleming, W.H.1    Soner, H.2
  • 74
    • 46749156314 scopus 로고    scopus 로고
    • A Phillips curve with an Ss foundation
    • Gertler, M., and J. Leahy. 2008. A Phillips curve with an Ss foundation. Journal of Political Economy 116: 533-572.
    • (2008) Journal of Political Economy , vol.116 , pp. 533-572
    • Gertler, M.1    Leahy, J.2
  • 76
    • 34547697767 scopus 로고    scopus 로고
    • Investment spikes: New facts and a general equilibrium exploration
    • Gourio, F., and A. K. Kashyap. 2007. Investment spikes: New facts and a general equilibrium exploration. Journal of Monetary Economics 54: 1-22.
    • (2007) Journal of Monetary Economics , vol.54 , pp. 1-22
    • Gourio, F.1    Kashyap, A.K.2
  • 77
    • 0001969053 scopus 로고
    • Asset pricing and optimal portfolio choice in the presence of illiquid durable consumption goods
    • Grossman, S. J., and G. Laroque. 1990. Asset pricing and optimal portfolio choice in the presence of illiquid durable consumption goods. Econometrica 58: 25-51.
    • (1990) Econometrica , vol.58 , pp. 25-51
    • Grossman, S.J.1    Laroque, G.2
  • 78
    • 0003496291 scopus 로고
    • Brownian motion and stochastic flow systems
    • Malabar, Fla.: Robert E. Krieger Publishing Company. Republished by John Wiley & Sons, 1990
    • Harrison, J. M. 1985. Brownian motion and stochastic flow systems. Malabar, Fla.: Robert E. Krieger Publishing Company. Republished by John Wiley & Sons, 1990.
    • (1985)
    • Harrison, J.M.1
  • 81
    • 0000939170 scopus 로고
    • Tobin's marginal and average q: A neoclassical interpretation
    • Hayashi, F. 1982. Tobin's marginal and average q: A neoclassical interpretation. Econometrica 50: 213-24.
    • (1982) Econometrica , vol.50 , pp. 213-224
    • Hayashi, F.1
  • 82
    • 84959829858 scopus 로고
    • Option values in the economics of irreplaceable assets
    • Henry, C. 1974. Option values in the economics of irreplaceable assets. Review of Economic Studies, Symposium Issue 41: 89-104.
    • (1974) Review of Economic Studies, Symposium Issue , vol.41 , pp. 89-104
    • Henry, C.1
  • 83
    • 0000921148 scopus 로고
    • Capital theory and investment behavior
    • Jorgensen, D. W. 1963. Capital theory and investment behavior. American Economic Review 53: 247-59.
    • (1963) American Economic Review , vol.53 , pp. 247-259
    • Jorgensen, D.W.1
  • 84
    • 0004171561 scopus 로고
    • Brownian motion and stochastic calculus, second edition
    • Berlin: Springer-Verlag
    • Karatzas, I., and S. E. Shreve. 1991. Brownian motion and stochastic calculus, second edition. Berlin: Springer-Verlag.
    • (1991)
    • Karatzas, I.1    Shreve, S.E.2
  • 85
    • 0003730487 scopus 로고
    • A first course in stochastic processes, second edition
    • New York: Academic Press
    • Karlin, S., and H. M. Taylor. 1975. A first course in stochastic processes, second edition. New York: Academic Press.
    • (1975)
    • Karlin, S.1    Taylor, H.M.2
  • 86
    • 0003730487 scopus 로고
    • A second course in stochastic processes
    • New York: Academic Press
    • Karlin, S., and H. M. Taylor. 1981. A second course in stochastic processes. New York: Academic Press.
    • (1981)
    • Karlin, S.1    Taylor, H.M.2
  • 87
    • 27144499387 scopus 로고
    • Sticky prices: new evidence from retail catalogs
    • Reprinted in Sheshinski and Weiss (1993)
    • Kashyap, A. 1995. Sticky prices: new evidence from retail catalogs. Quarterly Journal of Economics 110: 245-74. Reprinted in Sheshinski and Weiss (1993).
    • (1995) Quarterly Journal of Economics , vol.110 , pp. 245-274
    • Kashyap, A.1
  • 88
    • 0037347145 scopus 로고    scopus 로고
    • Nonconvex factor adjustments in equilibrium business cycle models: Do nonlinearities matter?
    • Khan, A., and J. K. Thomas. 2003. Nonconvex factor adjustments in equilibrium business cycle models: Do nonlinearities matter? Journal of Monetary Economics 50: 331-60.
    • (2003) Journal of Monetary Economics , vol.50 , pp. 331-360
    • Khan, A.1    Thomas, J.K.2
  • 89
    • 39149126148 scopus 로고    scopus 로고
    • Idiosyncratic shocks and the role of nonconvexities in plant and aggregate investment dynamics
    • Econometrica forthcoming
    • Khan, A., and J. K. Thomas. 2007. Idiosyncratic shocks and the role of nonconvexities in plant and aggregate investment dynamics. Econometrica forthcoming.
    • (2007)
    • Khan, A.1    Thomas, J.K.2
  • 90
    • 49449113956 scopus 로고    scopus 로고
    • State-dependent or time-dependent pricing: Does it matter for recent U.S. inflation?
    • Klenow, P. J., and O. Kryvtsov. 2008. State-dependent or time-dependent pricing: Does it matter for recent U.S. inflation? Quarterly Journal of Economics 123(3): 863-904.
    • (2008) Quarterly Journal of Economics , vol.123 , Issue.3 , pp. 863-904
    • Klenow, P.J.1    Kryvtsov, O.2
  • 92
    • 0035511291 scopus 로고    scopus 로고
    • An equilibrium model of irreversible investment
    • Kogan, L. 2001. An equilibrium model of irreversible investment. Journal of Financial Economics 6: 201-45.
    • (2001) Journal of Financial Economics , vol.6 , pp. 201-245
    • Kogan, L.1
  • 93
    • 4344709999 scopus 로고    scopus 로고
    • Asset prices and real investment
    • Kogan, L. 2004. Asset prices and real investment. Journal of Financial Economics 73: 411-32.
    • (2004) Journal of Financial Economics , vol.73 , pp. 411-432
    • Kogan, L.1
  • 94
    • 0003529575 scopus 로고
    • Introduction to the theory of diffusion processes
    • Providence, R.I.: American Mathematical Society
    • Krylov, N. V. 1995. Introduction to the theory of diffusion processes. Providence, R.I.: American Mathematical Society.
    • (1995)
    • Krylov, N.V.1
  • 95
    • 18744384100 scopus 로고    scopus 로고
    • Real estate and its role in household portfolio choice
    • Working paper, University of British Columbia, Vancouver, BC, Canada
    • Kullman, C., and S. Siegel. 2005. Real estate and its role in household portfolio choice. Working paper, University of British Columbia, Vancouver, BC, Canada.
    • (2005)
    • Kullman, C.1    Siegel, S.2
  • 96
    • 84934452796 scopus 로고
    • The behavior of prices and inflation: An empirical analysis of disaggregated price data
    • Reprinted in Sheshinski and Weiss (1993)
    • Lach, S., and D. Tsiddon. 1991. The behavior of prices and inflation: An empirical analysis of disaggregated price data. Journal of Political Economy 100: 349-89. Reprinted in Sheshinski and Weiss (1993).
    • (1991) Journal of Political Economy , vol.100 , pp. 349-389
    • Lach, S.1    Tsiddon, D.2
  • 97
    • 84916506635 scopus 로고
    • Investment in competitive equilibrium: The optimality of myopic behavior
    • Leahy, J. 1993. Investment in competitive equilibrium: The optimality of myopic behavior. Quarterly Journal of Economics 108: 1105-1133.
    • (1993) Quarterly Journal of Economics , vol.108 , pp. 1105-1133
    • Leahy, J.1
  • 99
    • 0000704002 scopus 로고
    • Investment and the valuation of firms when there is an option to shut down
    • MacDonald, R. L., and D. R. Siegel. 1985. Investment and the valuation of firms when there is an option to shut down. International Economic Review 26: 331-49.
    • (1985) International Economic Review , vol.26 , pp. 331-349
    • MacDonald, R.L.1    Siegel, D.R.2
  • 101
    • 84959778075 scopus 로고
    • Small menu costs and large business cycles: A macroeconomic model of monopoly
    • Mankiw,N.G. 1985. Small menu costs and large business cycles: A macroeconomic model of monopoly. Quarterly Journal of Economics 100: 529-37.
    • (1985) Quarterly Journal of Economics , vol.100 , pp. 529-537
    • Mankiw, N.G.1
  • 102
    • 0040629446 scopus 로고    scopus 로고
    • Can costs of consumption adjustment explain asset pricing puzzles?
    • Marshall, David A., and Nayan G. Parekh. 1999. Can costs of consumption adjustment explain asset pricing puzzles? Journal of Finance 54: 623-654.
    • (1999) Journal of Finance , vol.54 , pp. 623-654
    • Marshall, D.A.1    Parekh, N.G.2
  • 103
    • 27744588563 scopus 로고    scopus 로고
    • Consumption, durable goods, and transaction costs
    • International Finance Discussion Paper 756, Federal Reserve Board, Washington, D.C
    • Martin, R. F. 2003. Consumption, durable goods, and transaction costs. International Finance Discussion Paper 756, Federal Reserve Board, Washington, D.C.
    • (2003)
    • Martin, R.F.1
  • 104
    • 33845997623 scopus 로고    scopus 로고
    • Menu costs, multi-product firms and aggregate fluctuations
    • Working paper, Federal Reserve Bank of Minneapolis, Minneapolis, Minn.
    • Midrigan, V. 2006. Menu costs, multi-product firms and aggregate fluctuations. Working paper, Federal Reserve Bank of Minneapolis, Minneapolis, Minn.
    • (2006)
    • Midrigan, V.1
  • 105
    • 27744489382 scopus 로고    scopus 로고
    • Job matching and the wage distribution
    • Moscarini, G. 2005. Job matching and the wage distribution. Econometrica 73: 481-516.
    • (2005) Econometrica , vol.73 , pp. 481-516
    • Moscarini, G.1
  • 106
    • 37849004271 scopus 로고    scopus 로고
    • Five facts about prices: A reevaluation of menu cost models
    • Working paper, Columbia University, New York
    • Nakamura, E., and J. Steinsson. 2007. Five facts about prices: A reevaluation of menu cost models. Working paper, Columbia University, New York.
    • (2007)
    • Nakamura, E.1    Steinsson, J.2
  • 107
    • 50249124464 scopus 로고    scopus 로고
    • Monetary non-neutrality in a multi-sector menu cost model
    • NBERWorking Paper 14001. National Bureau of Economic Research, Cambridge, Mass
    • Nakamura, E., and J. Steinsson. 2008. Monetary non-neutrality in a multi-sector menu cost model. NBERWorking Paper 14001. National Bureau of Economic Research, Cambridge, Mass.
    • (2008)
    • Nakamura, E.1    Steinsson, J.2
  • 108
    • 0000888844 scopus 로고
    • Irreversible investment, capacity choice, and the value of the firm
    • Pindyck, R. S. 1988. Irreversible investment, capacity choice, and the value of the firm. American Economic Review 78: 969-85.
    • (1988) American Economic Review , vol.78 , pp. 969-985
    • Pindyck, R.S.1
  • 109
    • 0000281418 scopus 로고
    • Irreversibility, uncertainty, and investment
    • Pindyck, R. S. 1991. Irreversibility, uncertainty, and investment. Journal of Economic Literature 29: 1110-48.
    • (1991) Journal of Economic Literature , vol.29 , pp. 1110-1148
    • Pindyck, R.S.1
  • 110
  • 111
    • 0035175350 scopus 로고    scopus 로고
    • Displaced capital: A study of aerospace plant closings
    • Ramey, V. A., and M. D. Shapiro. 2001. Displaced capital: A study of aerospace plant closings. Journal of Political Economy 109: 958-92.
    • (2001) Journal of Political Economy , vol.109 , pp. 958-992
    • Ramey, V.A.1    Shapiro, M.D.2
  • 112
    • 0003778293 scopus 로고
    • Stochastic processes
    • New York: Wiley
    • Ross, S. M. 1983. Stochastic processes. New York: Wiley.
    • (1983)
    • Ross, S.M.1
  • 113
    • 0003897447 scopus 로고
    • Introduction to probability models, fourth edition
    • Boston: Academic Press
    • Ross, S. M. 1989. Introduction to probability models, fourth edition. Boston: Academic Press.
    • (1989)
    • Ross, S.M.1
  • 114
    • 0003655416 scopus 로고
    • Real analysis, second edition
    • New York: Macmillan
    • Royden, H. L. 1968. Real analysis, second edition. New York: Macmillan.
    • (1968)
    • Royden, H.L.1
  • 115
    • 0344821193 scopus 로고
    • The optimality of (S, s) policies in the dynamic inventory problem
    • In K. J. Arrow, S. Karlin, and P. Suppes, eds., Mathematical methods in the social sciences, 1959, Stanford, Calif.: Stanford University Press. Reprinted in Sheshinski and Weiss (1993)
    • Scarf, H. 1960. The optimality of (S, s) policies in the dynamic inventory problem. In K. J. Arrow, S. Karlin, and P. Suppes, eds., Mathematical methods in the social sciences, 1959, Stanford, Calif.: Stanford University Press. Reprinted in Sheshinski and Weiss (1993).
    • (1960)
    • Scarf, H.1
  • 116
    • 15744385298 scopus 로고    scopus 로고
    • Seasonality of moves and the duration and tenure of residence: 1996
    • Population Division Working Paper Series 69, U.S. Census Bureau, Washington, D.C.
    • Schachter, J. P., and J. J. Kuenzi. 2002. Seasonality of moves and the duration and tenure of residence: 1996. Population Division Working Paper Series 69, U.S. Census Bureau, Washington, D.C.
    • (2002)
    • Schachter, J.P.1    Kuenzi, J.J.2
  • 117
  • 118
    • 0000286280 scopus 로고
    • Optimum pricing policy under stochastic inflation
    • Sheshinski, E., and Y. Weiss. 1983. Optimum pricing policy under stochastic inflation. Review of Economic Studies 50: 513-29.
    • (1983) Review of Economic Studies , vol.50 , pp. 513-529
    • Sheshinski, E.1    Weiss, Y.2
  • 119
    • 0003567040 scopus 로고
    • Optimal pricing, inflation, and the cost of price adjustment
    • Cambridge, Mass.: MIT Press
    • Sheshinski, E., and Y. Weiss. eds. 1993. Optimal pricing, inflation, and the cost of price adjustment. Cambridge, Mass.: MIT Press.
    • (1993)
    • Sheshinski, E.1    Weiss, Y.2
  • 120
    • 34248529518 scopus 로고    scopus 로고
    • Consumption-based asset pricing: Durable goods, adjustment costs, and aggregation
    • Working paper, Business School, University of Washington, Seattle, Wash.
    • Siegel, S. 2005. Consumption-based asset pricing: Durable goods, adjustment costs, and aggregation.Working paper, Business School, University of Washington, Seattle, Wash.
    • (2005)
    • Siegel, S.1
  • 121
  • 122
    • 84883901299 scopus 로고    scopus 로고
    • Moving costs, nondurable consumption and portfolio choice
    • Journal of Economic Theory forthcoming
    • Stokey, N. L. 2008. Moving costs, nondurable consumption and portfolio choice. Journal of Economic Theory forthcoming.
    • (2008)
    • Stokey, N.L.1
  • 123
    • 0003538072 scopus 로고
    • Recursive methods in economic dynamics
    • Cambridge, Mass.: Harvard University Press
    • Stokey, N. L., R. E. Lucas, with E. C. Prescott. 1989. Recursive methods in economic dynamics. Cambridge, Mass.: Harvard University Press.
    • (1989)
    • Stokey, N.L.1    Lucas, R.E.2    Prescott, E.C.3
  • 124
    • 0036313273 scopus 로고    scopus 로고
    • Is lumpy investment relevant for the business cycle?
    • Thomas, J. K. 2002. Is lumpy investment relevant for the business cycle? Journal of Political Economy 110: 508-34.
    • (2002) Journal of Political Economy , vol.110 , pp. 508-534
    • Thomas, J.K.1
  • 125
    • 0002661755 scopus 로고
    • A general equilibrium approach to monetary theory
    • Tobin, J. 1969. A general equilibrium approach to monetary theory. Journal of Money Credit and Banking 1: 15-29.
    • (1969) Journal of Money Credit and Banking , vol.1 , pp. 15-29
    • Tobin, J.1
  • 126
    • 0038893594 scopus 로고    scopus 로고
    • Plant-level irreversible investment and equilibrium business cycles
    • Veracierto, M. L. 2002. Plant-level irreversible investment and equilibrium business cycles. American Economic Review 92: 181-97.
    • (2002) American Economic Review , vol.92 , pp. 181-197
    • Veracierto, M.L.1
  • 127
    • 0003684870 scopus 로고    scopus 로고
    • Towards an explanation of household portfolio choice heterogeneity: Nonfinancial income and participation cost structures
    • NBER Working Paper 8884. National Bureau of Economic Research, Cambridge, Mass
    • Vissing-Jorgensen, A. 2002. Towards an explanation of household portfolio choice heterogeneity: Nonfinancial income and participation cost structures. NBER Working Paper 8884. National Bureau of Economic Research, Cambridge, Mass.
    • (2002)
    • Vissing-jorgensen, A.1
  • 128
    • 0000682502 scopus 로고
    • Collective-consumption services of individualconsumption goods
    • Weisbrod, B. A. 1964. Collective-consumption services of individualconsumption goods. Quarterly Journal of Economics 78: 471-77.
    • (1964) Quarterly Journal of Economics , vol.78 , pp. 471-477
    • Weisbrod, B.A.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.