The Economics of Inaction: Stochastic Control Models with Fixed Costs
By Nancy L. Stokey. 2008
235 citations recorded by the source corpus.
View Paper: https://www.semanticscholar.org/paper/82febcd9e3defcc453009cfae22002fb61f3f26f
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Citations in the corpus
- Brownian Inventory Models with Convex Holding Cost, Part 1: Average-Optimal Controls (2013, methodology): “Readers are referred to Stokey [74] and her references for economic applications of Brownian control problems.”
- Price Setting With Menu Cost for Multiproduct Firms (2014, methodology): “For instance, a quadratic (approximate) profit function was used in the seminal work of Barro (1972), Dixit (1991), Tsiddon (1993), Section 5 of Sheshinski and Weiss (1992), Caplin and Leahy (1997), and Chapter 12 of Stokey (2008), among others.”
- Economic policy uncertainty and the credit channel: aggregate and bank level U.S. evidence over several decades (2016, methodology): “For example, Stokey (2008) devotes an entire book to theoretically analyzing “[T]he Economics of Inaction.””
- Optimal Inattention to the Stock Market with Information Costs and Transactions Costs (2009, background): “Stokey (2009) presents a comprehensive analysis of issues related to inaction and infrequent adjustment.”
- Wait-and-See: Investment Options Under Policy Uncertainty (2016, background): “Hopenhayn and Muniagurria (1996) look at the aggregate implications of policy variability in the sense of regime switching in a standard growth model, and find it can have unexpected growth and welfare 1See Dixit and Pindyck (1994) and Stokey (2008) for more detailed discussions of this literature.”
- Size-Dependent Regulations, Firm Size Distribution, and Reallocation (2012, unknown): “The solution of the model can be obtained directly using the results in Stokey (2008), since our model is a special case of the general option exercise problem analyzed in this book.”
- Durable consumption and asset management with transaction and observation costs (2012, unknown): “We 1See Stokey (2008) for a survey of the recent literature.”