uu.seUppsala University Publications
Change search
Refine search result
1 - 11 of 11
CiteExportLink to result list
Permanent link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Rows per page
  • 5
  • 10
  • 20
  • 50
  • 100
  • 250
Sort
  • Standard (Relevance)
  • Author A-Ö
  • Author Ö-A
  • Title A-Ö
  • Title Ö-A
  • Publication type A-Ö
  • Publication type Ö-A
  • Issued (Oldest first)
  • Issued (Newest first)
  • Created (Oldest first)
  • Created (Newest first)
  • Last updated (Oldest first)
  • Last updated (Newest first)
  • Standard (Relevance)
  • Author A-Ö
  • Author Ö-A
  • Title A-Ö
  • Title Ö-A
  • Publication type A-Ö
  • Publication type Ö-A
  • Issued (Oldest first)
  • Issued (Newest first)
  • Created (Oldest first)
  • Created (Newest first)
  • Last updated (Oldest first)
  • Last updated (Newest first)
Select
The maximal number of hits you can export is 250. When you want to export more records please use the 'Create feeds' function.
  • 1.
    Assarsson, Bengt
    et al.
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Bask, Mikael
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    En granskning av Goodharts och Rochets utvärdering av Riksbankens politik2012In: Ekonomiska samfundets tidskrift, ISSN 0013-3183, Vol. 65, no 2, 63-71 p.Article, review/survey (Refereed)
    Abstract [en]

    This paper reviews Charles Goodhart's and Jean-Charles Rochet's evaluation of the policy of the Swedish Riksbank during 2005-2010. A merit in the evaluation is that it advocates macro and not only micro prudential policies in the preventive efforts to support a stable financial system. However, we are critical about the lack of discussion on the presently weak basis of the economic theory of prudential policies. This calls for a precautionary principle in the design and implementation of reform. When it comes to monetary policy, there should have been a careful analysis of the divergence of opinion among the members of the Board of Governors, which is almost completely disregarded by the evaluaters. It seems that the decisions in the Riksbank have been characterized by an obvious bias towards too low inflation during the evaluation period.

  • 2.
    Bask, Miia
    et al.
    Oslo & Akershus Univ, Coll Appl Sci, Norwegian Social Res NOVA, Oslo, Norway..
    Bask, Mikael
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Cumulative (Dis) Advantage and the Matthew Effect in Life-Course Analysis2015In: PLoS ONE, ISSN 1932-6203, E-ISSN 1932-6203, Vol. 10, no 11, e0142447Article in journal (Refereed)
    Abstract [en]

    To foster a deeper understanding of the mechanisms behind inequality in society, it is crucial to work with well-defined concepts associated with such mechanisms. The aim of this paper is to define cumulative (dis) advantage and the Matthew effect. We argue that cumulative (dis) advantage is an intra-individual micro-level phenomenon, that the Matthew effect is an inter-individual macro-level phenomenon and that an appropriate measure of the Matthew effect focuses on the mechanism or dynamic process that generates inequality. The Matthew mechanism is, therefore, a better name for the phenomenon, where we provide a novel measure of the mechanism, including a proof-of-principle analysis using disposable personal income data. Finally, because socio-economic theory should be able to explain cumulative (dis) advantage and the Matthew mechanism when they are detected in data, we discuss the types of models that may explain the phenomena. We argue that interactions-based models in the literature traditions of analytical sociology and statistical mechanics serve this purpose.

  • 3. Bask, Miia
    et al.
    Bask, Mikael
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Social influence and the Matthew mechanism: The case of an artificial cultural market2014In: Physica A: Statistical Mechanics and its Applications, ISSN 0378-4371, E-ISSN 1873-2119, Vol. 412, 113-119 p.Article in journal (Refereed)
    Abstract [en]

    We show that the Matthew effect, or Matthew mechanism, was present in the artificial cultural market Music Lab in one-fourth of the "worlds" when social influence between individuals was allowed, whereas this effect was not present in the "world" that disallowed social influence between individuals. We also sketch on a class of social network models, derived from social influence theory, that may generate the Matthew effect. Thus, we propose a theoretical framework that may explain why the most popular songs could be much more popular, and the least popular songs could be much less popular, than when disallowing social influence between individuals.

  • 4.
    Bask, Miia
    et al.
    University of Bergen.
    Bask, Mikael
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Social Influence and the Matthew Mechanism: The Case of an Artificial Cultural Market2013Report (Other academic)
    Abstract [en]

    We show that the Matthew effect, or Matthew mechanism, was present in the artificial cultural market Music Lab when social influence between individuals was allowed, whereas this was not the case when social influence was not allowed. We also sketch on a class of social network models, derived from social influence theory, that may gener-ate the Matthew effect. Thus, we propose a theoretical framework that may explain why the most popular songs were much more popular, and the least popular songs were much less popular, than when disallowing social influence between individuals.

  • 5.
    Bask, Mikael
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    A Case for Interest Rate Inertia in Monetary Policy2014In: International journal of finance and economics, ISSN 1076-9307, E-ISSN 1099-1158, Vol. 19, no 2, 140-159 p.Article in journal (Refereed)
    Abstract [en]

    We argue that it is not necessary for the central bank to react to the exchange rate to have a desirable outcome in the economy. Indeed, when the Taylor rule includes contemporaneous data on the variables in the rule, the central bank can disregard from the exchange rate as long as there is enough with interest rate inertia in monetary policy. The reason is that interest rate inertia and a reaction to the current nominal exchange rate change are perfect substitutes in monetary policy. Hence, we give a rationale for the central bank to focus on the interest rate change rather than the interest rate level to have a desirable outcome in the economy, which we define as a determinate rational expectation equilibrium that is stable under least squares learning.

  • 6.
    Bask, Mikael
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Asset price misalignments and monetary policy2012In: International journal of finance and economics, ISSN 1076-9307, E-ISSN 1099-1158, Vol. 17, no 3, 221-241 p.Article in journal (Refereed)
    Abstract [en]

    We augment the standard New Keynesian Model for monetary policy design with stock prices in the economy and stock traders who use a mix of fundamental and technical analyses. In contrast with most of previous literature, we argue that the central bank should augment the interest rate rule with a term for stock price misalignments because a determinate and stable rational expectations equilibrium in the economy are then easier to achieve. This equilibrium is stable under least squares learning as well. Another finding is that inertia in monetary policy does not promote macroeconomic stability when technical analysis plays a major role in stock trading. Even worse, if the central bank in its policy only indirectly responds to stock price misalignments via its effect on the inflation rate, a combination of strong inertia in monetary policy and a significant role for technical analysis in stock trading will lead to macroeconomic instability.

  • 7.
    Bask, Mikael
    Department of Economics, Umeå University.
    Essays on Exchange Rates: Deterministic Chaos and Technical Analysis1998Doctoral thesis, comprehensive summary (Other academic)
  • 8.
    Bask, Mikael
    et al.
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Proano, Christian R.
    Univ Bamberg, Dept Econ, D-96045 Bamberg, Germany..
    Optimal monetary policy under learning and structural uncertainty in a New Keynesian model with a cost channel and inflation inertia2016In: Journal of Economic Dynamics and Control, ISSN 0165-1889, E-ISSN 1879-1743, Vol. 69, 112-126 p.Article in journal (Refereed)
    Abstract [en]

    We investigate whether expectations-based optimal monetary policy rules under discretion and under commitment can enforce a determinate and least squares learnable rational expectations equilibrium (REE) in a New Keynesian model with inflation inertia and a cost channel of monetary policy transmission. Our numerical results show that commitment rules can enforce a determinate and learnable REE for all parameter constellations considered, whereas discretionary rules are not always able to enforce the same desirable outcome in the economy. We also examine different types of misapprehensions in policy-making and find that an incorrect assessment of the economy's true structure by the central bank greatly affects its capability to enforce a determinate and learnable, although suboptimal, REE. Thus, our numerical results highlight the relevance of this type of analysis for the design and conduct of monetary policy.

  • 9.
    Bask, Mikael
    et al.
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Proaño, Christian R.
    Department of Economics, The New School for Social Research, New York, NY.
    Optimal Monetary Policy under Learning in a New Keynesian Model with Cost Channel and Inflation Inertia2012Report (Other academic)
    Abstract [en]

    We show that a so-called expectations-based optimal monetary policy rule has desirable properties in a standard New Keynesian model augmented with a cost channel and inflation rate expectations that are partly backward-looking. In particular, optimal monetary policy under commitment is associated with a determinate rational expectations equilibrium that is stable under least squares learning for all parameter constellations considered, whereas, under discretion in policy-making, the central bank has to be sufficiently inflation rate averse for the rational expectations equilibrium to have the same properties.

  • 10.
    Bask, Mikael
    et al.
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Widerberg, Anna
    Göteborgs Universitet.
    Measuring the Stability of a Dynamic System: The Case of the Stock Market Turmoil 2007-20082010Report (Other academic)
    Abstract [en]

    The aim of this paper is to demonstrate how the change in actual and potential market risks in the Dow Jones Industrial Average (DJIA) during the two-year period 2007-2008 can be analyzed with the help of (λ, σ2)-analysis. In the empirical analysis, the average of the Lyapunov exponents for the dynamic system generating DJIA returns is used as the stability measure, , whereas the squared DJIA return is used as the variability measure, λ, whereas the squared DJIA return is used as the variability measure, σ2. The main findings are as follows: (i) the potential market risk in the DJIA did not fluctuate that much during 2007, with the exceptions of early fall and near the end of the year; (ii) the potential market risk fluctuated a lot during 2008, especially in early August and in the middle of September; and (iii) the actual market risk in the DJIA was considerably higher near the end of 2008, especially in October, compared with the rest of the period.

  • 11.
    Palmquist, Samuel
    et al.
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Bask, Mikael
    Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
    Market dynamics of buyout acquisitions in the renewable energy and cleantech sectors: An event study approach2016In: Renewable & sustainable energy reviews, ISSN 1364-0321, E-ISSN 1879-0690, Vol. 64, 271-278 p.Article, review/survey (Refereed)
    Abstract [en]

    This paper examined the market dynamics of mergers and acquisitions in the renewable energy and cleantech sectors. We analyzed abnormal returns from 273 announced and 54 completed buyout acquisitions that took place between the years 1997 and 2014, and we used an event study methodology to test (i) whether renewable energy and cleantech deals experienced higher rates of abnormal returns than traditional energy and mining deals, (ii) whether deal completions displayed similar effects as deal announcements, and (iii) whether homogenous deals experienced higher rates of abnormal returns than heterogeneous deals. Our findings were (i) that the traditional energy and mining sector outperformed the renewable energy and cleantech sectors in homogenous deals, (ii) that the deal completion effect followed the announcement effect in 9 of 12 cases, and (iii) that homogenous deals outperformed heterogeneous deals. To the best of our knowledge, comparisons of deal announcements and deal completion effects in the renewable energy and cleantech sectors have not to date been previously examined in the literature.

1 - 11 of 11
CiteExportLink to result list
Permanent link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf