WorldCat Identities

Stokey, Nancy L.

Overview
Works: 43 works in 148 publications in 3 languages and 3,350 library holdings
Roles: Author, Honoree
Publication Timeline
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Most widely held works by Nancy L Stokey
The economics of inaction : stochastic control models with fixed costs by Nancy L Stokey( )

20 editions published between 2008 and 2009 in English and held by 1,766 WorldCat member libraries worldwide

"In economic situations where action entails a fixed cost, inaction is the norm. Action is taken infrequently, and adjustments are large when they occur. Interest in economic models that exhibit ''lumpy'' behavior of this kind has exploded in recent years, spurred by growing evidence that it is typical in many important economic decisions, including price setting, investment, hiring, durable goods purchases, and portfolio management
Recursive methods in economic dynamics by Nancy L Stokey( Book )

36 editions published between 1989 and 2004 in English and Spanish and held by 1,105 WorldCat member libraries worldwide

Growth effects of flat-rate taxes by Nancy L Stokey( )

13 editions published in 1993 in English and held by 92 WorldCat member libraries worldwide

Recent estimates of the potential growth effects of tax reform vary widely, ranging from zero (Lucas 1990) to eight percentage points (Jones, Manuelli, and Rossi 1993). Using an endogenous growth model, we assess which model features and parameter values are important for determining the quantitative impact of tax reform. We find that the critical parameters are factor shares, depreciation rates, the elasticity of intertemporal substitution, and the elasticity of labor supply. The elasticities of substitution in production, on the other hand, are relatively unimportant. The quantitative estimates in several recent papers are compared with each other and with some of the evidence from U.S. experience
Human capital, product quality, and growth by Nancy L Stokey( )

8 editions published in 1990 in English and held by 73 WorldCat member libraries worldwide

Abstract: the rest of the world, then its rate of investment in human capital is lower
Catching Up and Falling Behind by Nancy L Stokey( )

5 editions published in 2012 in English and held by 50 WorldCat member libraries worldwide

This paper studies the interaction between technology, a publicly available input that flows in from abroad, and human capital, a private input that is accumulated domestically, as the twin engines of growth in a developing economy. The model displays two types of long run behavior, depending on policies and initial conditions. One is sustained growth, where the economy keeps pace with the technology frontier. The other is stagnation, where the economy converges to a minimal technology level that is independent of the world frontier. In a calibrated version of the model, transition paths after a policy change can display rapid growth, as in modern growth 'miracles.' In these economies policies that promote technology inflows are much more effective than subsidies to human capital accumulation in accelerating growth. A policy reversal produces a 'lost decade, ' a period of slow growth that permanently reduces the level of income and consumption
Money and interest in a cash-in-advance economy by Robert E Lucas( )

7 editions published between 1984 and 1987 in English and held by 49 WorldCat member libraries worldwide

In this paper we analyze an aggregative general equilibrimi model in which the use of money is motivated by a cash-in-advance constraint, applied to purchases of a subset of consumption goods. The system is subject to both real and monetary shocks, which are economy-wide and observed by all. We develop methods for verifying the existence of, characterizing, and explicitly calculating equilibria. A main result of the analysis is that current money growth affects the current real allocation only insofar as it affects expectations about future money growth, i.e., only through its value as a signal
Wait-and-see investment options under policy uncertainty by Nancy L Stokey( )

6 editions published in 2013 in English and held by 47 WorldCat member libraries worldwide

This paper develops a model of investment decisions in which uncertainty about a one-time change in tax policy induces the firm to temporarily stop investing--to adopt a wait-and-see policy. After the uncertainty is resolved, the firm exploits the tabled projects, generating a temporary investment boom
A comparison of tournaments and contracts by Jerry R Green( )

4 editions published between 1981 and 1982 in English and held by 42 WorldCat member libraries worldwide

Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agents' output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The principal observes only the output levels of the agents. It is shown that in the absence of a common shock, using optimal independent contracts dominates using the optimal tournament. Conversely, if the distribution of the common shock is sufficiently diffuse, using the optimal tournament dominates using optimal independent contracts. Finally, it is shown that for a sufficiently large number of agents, a principal who cannot observe the common shock but uses the optimal tournament, does as well as one who can observe the shock and uses independent contracts
Technology, skill and the wage structure by Nancy L Stokey( )

5 editions published in 2016 in English and held by 38 WorldCat member libraries worldwide

Technical change, even if it is limited in scope, can have employment, output, price and wage effects that ripple through the whole economy. This paper uses a flexible and tractable framework, with heterogeneous workers and technologies, and many tasks/goods, to analyze the general equilibrium effects of technical change for a limited set of tasks. Output increases and price falls for tasks that are directly affected. The effects on employment depend on the elasticity of substitution across tasks/goods. For high elasticities, employment expands to a group of more skilled workers. Hence for tasks farther up the technology ladder, employment falls, output declines, and prices and wages rise. For low elasticities, employment at affected tasks contracts among less skilled workers, as they shift to complementary tasks with unchanged technologies. In all cases, the output, price and wage changes are damped for more distant tasks, both above and below the affected group
Technology and skill : twin engines of growth by Nancy L Stokey( )

3 editions published in 2018 in English and held by 18 WorldCat member libraries worldwide

A model is developed in which two complementary forms of investment contribute to growth -- technology and skill acquisition, and growth takes two forms -- TFP and variety growth. The rate of TFP growth depends more heavily on the parameters governing skill accumulation, while variety growth depends, roughly, on the difference between the parameters governing technology and skill accumulation. Conditions for the existence of a BGP are established, and the effects of various parameters are characterized. In an example, subsidies to skill acquisition (technology acquisition) are powerful tools for stimulating TFP growth (variety growth). Investment incentives off the BGP are also explored
NAFTA and Mexican development by Nancy L Stokey( Book )

2 editions published in 1996 in English and held by 14 WorldCat member libraries worldwide

Brownian models in economics by Nancy L Stokey( Book )

1 edition published in 2008 in English and held by 9 WorldCat member libraries worldwide

A note on dynamic programming with homogeneous functions by Nancy L Stokey( Book )

2 editions published in 1996 in English and held by 8 WorldCat member libraries worldwide

Solutions manual for Recursive methods in economic dynamics by Claudio Irigoyen( )

3 editions published in 2002 in English and held by 4 WorldCat member libraries worldwide

Jing ji dong tai de di gui fang fa( Book )

1 edition published in 1999 in Chinese and held by 4 WorldCat member libraries worldwide

Two representations of information structures and their comparisons by Jerry R Green( Book )

2 editions published in 1978 in English and held by 4 WorldCat member libraries worldwide

Shirtsleeves to shirtsleeves, the economics of social mobility by Nancy L Stokey( )

2 editions published in 1998 in Undetermined and English and held by 3 WorldCat member libraries worldwide

A two-person game of information transmission by Jerry R Green( Book )

2 editions published in 1980 in English and held by 2 WorldCat member libraries worldwide

The volume and composition of trade between rich and poor countries by Nancy L Stokey( Book )

1 edition published in 1989 in English and held by 2 WorldCat member libraries worldwide

NAFTA and Mexican development by Nancy L Stokey( Book )

2 editions published in 1996 in English and held by 2 WorldCat member libraries worldwide

 
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The economics of inaction : stochastic control models with fixed costs
Covers
Recursive methods in economic dynamicsBrownian models in economicsSolutions manual for Recursive methods in economic dynamics
Alternative Names
Nancy Stokey Amerikaans econome

Nancy Stokey amerikansk ekonom

Nancy Stokey amerikansk økonom

Nancy Stokey economista estadounidense

Nancy Stokey économiste américaine

Nancy Stokey US-amerikanische Wirtschaftswissenschaftlerin

Stokey, Nancy

Stokey, Nancy 1950-

Stokey, Nancy Laura 1950-

Стокей, Нэнси

낸시 스토키

ナンシー・ストーキー

Languages
English (122)

Spanish (1)

Chinese (1)