Karl Shell
Biographic Data
| ID | 5729862 |
|---|---|
| NAME | Karl Shell |
| GIVEN NAMES | Karl |
| FAMILY NAME | Shell |
| SIGNATURE | SHELL K |
| AFFILIATIONS | Cornell University |
| VERIFIED | No |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 45 |
| WORKS AS AUTHOR | 8 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1968 |
| LATEST PUBLICATION YEAR | 2003 |
| H-INDEX | 4 |
Equilibrium Bank Runs
We analyze a banking system in which the class of feasible deposit contracts, or mechanisms, is broad. The mechanisms must satisfy a sequential service constraint, but partial or full suspension of convertibility is allowed. Consumers must be willing to deposit, ex ante. We show, by examples, that under the so-called "optimal contract," the postdeposit game can have a run equilibrium. Given a propensity to run, triggered by sunspots, the optimal …
Economic Complexity
The contents of this volume comprise the proceedings of the International Symposia in Economic Theory and Econometrics conference held in 1987 at the IC^T2 (Innovation, Creativity, and Capital) Institute at the University of Texas at Austin. The essays present fundamental new research on the analysis of complicated outcomes in relatively simple macroeconomic models. The book covers econometric modelling and time series analysis techniques in five…
Economic Complexity
Journal Article Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity Get access Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearily. Edited by A. BARNETT WILLIAM, JOHN GEWEKE and KARL SHELL. (Cambridge and New York: Cambridge University Press, 1989. Pp. xi + 409. £30.00 hardback, US $49.50 hardback. ISBN 0 521 35563 X). Alan Kirman Alan Kirman European University Institute, Florence Search for other works by this author on:…
Do Sunspots Matter
Can extrinsic uncertainty ("animal spirits," "market psychology," "sunspots,"...) play a significant role in rational expectations equilibrium models? We establish that extrinsic uncertainty cannot matter in the static Arrow-Debreu economy with complete markets. But we also establish that extrinsic uncertainty can matter in the overlapping-generations economy with complete markets but where market participation is limited to those consumers alive…
Mathematical Methods in Investment and Finance
Notes on the Economics of Infinity
This is an attempt to expose the essence of Samuelson's consumption loan paradox. It is maintained that the double infinity of traders and dated commodities allows for competitive equilibria that are not Pareto-optimal. While such models are most interesting in the dynamic setting, the fact that generations do not meet is not essential. The chain-letter aspect of the model reminds us that the appropriate form of the budget constraint is not obvio…
Optimal Fiscal and Monetary Policy and Economic Growth
Essays on the Theory of Optimal Economic Growth
Journal Article K. Shell. Essays on the Theory of Optimal Economic Growth Get access Essays on the Theory of Optimal Economic Growth. Edited by K. Shell. (Cambridge, Massachusetts and London: M.I.T. Press, 1967. Pp. xii + 303. 100s. (cloth), 70s. (paper).) A. B. Atkinson A. B. Atkinson Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 78, Issue 311, 1 September 1968, Pages 672–674, htt…
Do Sunspots Matter
Can extrinsic uncertainty ("animal spirits," "market psychology," "sunspots,"...) play a significant role in rational expectations equilibrium models? We establish that extrinsic uncertainty cannot matter in the static Arrow-Debreu economy with complete markets. But we also establish that extrinsic uncertainty can matter in the overlapping-generations economy with complete markets but where market participation is limited to those consumers alive…
Economic Complexity
Journal Article Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity Get access Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearily. Edited by A. BARNETT WILLIAM, JOHN GEWEKE and KARL SHELL. (Cambridge and New York: Cambridge University Press, 1989. Pp. xi + 409. £30.00 hardback, US $49.50 hardback. ISBN 0 521 35563 X). Alan Kirman Alan Kirman European University Institute, Florence Search for other works by this author on:…
Equilibrium Bank Runs
We analyze a banking system in which the class of feasible deposit contracts, or mechanisms, is broad. The mechanisms must satisfy a sequential service constraint, but partial or full suspension of convertibility is allowed. Consumers must be willing to deposit, ex ante. We show, by examples, that under the so-called "optimal contract," the postdeposit game can have a run equilibrium. Given a propensity to run, triggered by sunspots, the optimal …
Essays on the Theory of Optimal Economic Growth
Journal Article K. Shell. Essays on the Theory of Optimal Economic Growth Get access Essays on the Theory of Optimal Economic Growth. Edited by K. Shell. (Cambridge, Massachusetts and London: M.I.T. Press, 1967. Pp. xii + 303. 100s. (cloth), 70s. (paper).) A. B. Atkinson A. B. Atkinson Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 78, Issue 311, 1 September 1968, Pages 672–674, htt…
Mathematical Methods in Investment and Finance
Notes on the Economics of Infinity
This is an attempt to expose the essence of Samuelson's consumption loan paradox. It is maintained that the double infinity of traders and dated commodities allows for competitive equilibria that are not Pareto-optimal. While such models are most interesting in the dynamic setting, the fact that generations do not meet is not essential. The chain-letter aspect of the model reminds us that the appropriate form of the budget constraint is not obvio…
Optimal Fiscal and Monetary Policy and Economic Growth
Essays on the Theory of Optimal Economic Growth
Journal Article K. Shell. Essays on the Theory of Optimal Economic Growth Get access Essays on the Theory of Optimal Economic Growth. Edited by K. Shell. (Cambridge, Massachusetts and London: M.I.T. Press, 1967. Pp. xii + 303. 100s. (cloth), 70s. (paper).) A. B. Atkinson A. B. Atkinson Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 78, Issue 311, 1 September 1968, Pages 672–674, htt…
Optimal Fiscal and Monetary Policy and Economic Growth
Notes on the Economics of Infinity
This is an attempt to expose the essence of Samuelson's consumption loan paradox. It is maintained that the double infinity of traders and dated commodities allows for competitive equilibria that are not Pareto-optimal. While such models are most interesting in the dynamic setting, the fact that generations do not meet is not essential. The chain-letter aspect of the model reminds us that the appropriate form of the budget constraint is not obvio…
Mathematical Methods in Investment and Finance
Do Sunspots Matter
Can extrinsic uncertainty ("animal spirits," "market psychology," "sunspots,"...) play a significant role in rational expectations equilibrium models? We establish that extrinsic uncertainty cannot matter in the static Arrow-Debreu economy with complete markets. But we also establish that extrinsic uncertainty can matter in the overlapping-generations economy with complete markets but where market participation is limited to those consumers alive…
Economic Complexity
Journal Article Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity Get access Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearily. Edited by A. BARNETT WILLIAM, JOHN GEWEKE and KARL SHELL. (Cambridge and New York: Cambridge University Press, 1989. Pp. xi + 409. £30.00 hardback, US $49.50 hardback. ISBN 0 521 35563 X). Alan Kirman Alan Kirman European University Institute, Florence Search for other works by this author on:…
Economic Complexity
The contents of this volume comprise the proceedings of the International Symposia in Economic Theory and Econometrics conference held in 1987 at the IC^T2 (Innovation, Creativity, and Capital) Institute at the University of Texas at Austin. The essays present fundamental new research on the analysis of complicated outcomes in relatively simple macroeconomic models. The book covers econometric modelling and time series analysis techniques in five…
Equilibrium Bank Runs
We analyze a banking system in which the class of feasible deposit contracts, or mechanisms, is broad. The mechanisms must satisfy a sequential service constraint, but partial or full suspension of convertibility is allowed. Consumers must be willing to deposit, ex ante. We show, by examples, that under the so-called "optimal contract," the postdeposit game can have a run equilibrium. Given a propensity to run, triggered by sunspots, the optimal …
Economics (7 works) · Economic theories and models (6 works) · Mathematical economics (6 works) · Computer Science (4 works) · Mathematics (4 works) · Economic Theory and Policy (3 works) · Microeconomics (3 works) · Physics (3 works) · Sunspot (3 works) · Business (2 works)