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.Economic policy ; Macroeconomics

Joseph A. Ritter

Joseph G. Haubrich

English

Research Papers in Economics

A Positive Analysis of Bank Closure,

A Positive Theory of Monetary Policy in a Natural-Rate Model,

and Currency Boards: Another Case of Rules versus Discretion, Federal Reserve Bank of Dallas, Economic Review, Fourth Quarter

Appendices for Entry and Exit Decision Under Uncertainty unpublished appendices to article in the Journal of Political Economy,

Beings--If They Exist, How Would We Know?: Game Theoretic Implications of Omniscience, Immortality, and Incomprehensibility,

Competitive Profits in the Long Run,

Dynamic Commitment and Imperfect Policy Rules, Federal Reserve Bank of Cleveland,

Entry and Exit Decisions under Uncertainty,

Gold Monetization and Gold Discipline,

Interest Rate Policy and the Inflation Scare Problem: 1979-1992, Federal Reserve Bank of Richmond,

Investment under Uncertainty,

Irreversibility, Uncertainty, and Investment,&quot;

Optimal Commitment in Monetary Policy: Credibility versus Flexibility,&quot;

Optimal Economic Stabilization Policies under Decentralized Control and Conflicting Objectives,

Reaganomics and Credibility, Chapter 2 of Rational Expectations and Inflation, Harper and Row,

Some Lessons from the Yield Curve,

The S&L Insurance Mess: How Did It Happen?

Commitment as investment under uncertainty

http://www.clevelandfed.org/research/workpaper/1996/wp9606.pdf

Commitment as investment under uncertainty

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Research Papers in Economics