Ricardo Reis - Academia.edu (original) (raw)

Papers by Ricardo Reis

Review of Economic Studies, 2006

I present and solve the problem of a producer who faces costs of acquiring, absorbing, and proces... more I present and solve the problem of a producer who faces costs of acquiring, absorbing, and processing information. I establish a series of theoretical results describing the producer's behaviour. First, I find the conditions under which the producer prefers to set a plan for the price he or she charges, or instead prefers to set a plan for the quantity he or she sells. Second, I show that the agent rationally chooses to be inattentive to news, only sporadically updating his or her information. I solve for the optimal length of inattentiveness and characterize its determinants. Third, I explicitly aggregate the behaviour of many such producers. I apply these results to a model of inflation. I find that the model can fit the quantitative facts on post-war inflation remarkably well, that it is a good forecaster of future inflation, and that it survives the Lucas critique by fitting also the pre-war facts on inflation moderately well.

Inattentive consumers

Journal of Monetary Economics, 2006

This paper studies the consumption decisions of agents who face costs of acquiring, absorbing and... more This paper studies the consumption decisions of agents who face costs of acquiring, absorbing and processing information. These consumers rationally choose to only sporadically update their information and re-compute their optimal consumption plans. In between updating ...

Journal of The European Economic Association, 2003

This paper assumes that a central bank commits itself to maintaining an inflation target and then... more This paper assumes that a central bank commits itself to maintaining an inflation target and then asks what measure of the inflation rate the central bank should use if it wants to maximize economic stability. The paper first formalizes this problem and examines its microeconomic foundations. It then shows how the weight of a sector in the stability price index depends on the sector's characteristics, including size, cyclical sensitivity, sluggishness of price adjustment, and magnitude of sectoral shocks. When a numerical illustration of the problem is calibrated to U.S. data, one tentative conclusion is that a central bank that wants to achieve maximum stability of economic activity should use a price index that gives substantial weight to the level of nominal wages.

American Economic Review, 2006

This paper explores a macroeconomic model of the business cycle in which stickiness of informatio... more This paper explores a macroeconomic model of the business cycle in which stickiness of information is pervasive. We start from a familiar benchmark classical model and add to it the assumption that there is sticky information on the part of consumers, workers, and firms. We evaluate the model against three key facts that describe short-run fluctuations: the acceleration phenomenon, the smoothness of real wages, and the gradual response of real variables to shocks. We find that pervasive stickiness is required to fit the facts. We conclude that models based on stickiness of information offer the promise of fitting the facts on business cycles while adding only one new plausible ingredient to the classical benchmark.

Disagreement about inflation expectation

Analyzing 50 years of inflation expectations data from several sources, we document substantial d... more Analyzing 50 years of inflation expectations data from several sources, we document substantial disagreement among both consumers and professional economists about expected future inflation.

Journal of The European Economic Association, 2007

This paper develops and analyzes a general-equilibrium model with sticky information. The only ri... more This paper develops and analyzes a general-equilibrium model with sticky information. The only rigidity in goods, labor, and financial markets is that agents are inattentive, sporadically updating their information sets, when setting prices, wages, and consumption. After presenting the ingredients of such a model, the paper develops an algorithm to solve this class of models and uses it to study the model's dynamic properties. It then estimates the parameters of the model using U.S. data on five key macroeconomic time series. It finds that information stickiness is present in all markets, and is especially pronounced for consumers and workers. Variance decompositions show that monetary policy and aggregate demand shocks account for most of the variance of inflation, output, and hours. (JEL: E30, E10)

Quarterly Journal of Economics, 2002

Quadratic placement for 3d circuits using z-cell shifting, 3d iterative refinement and simulated annealing

ABSTRACT This paper presents a quadratic placement algorithm to be applied for 3D circuits. We fo... more ABSTRACT This paper presents a quadratic placement algorithm to be applied for 3D circuits. We formulate the 3D problem to control the area balance and the number of 3D-Vias between tiers. We introduce the z-Cell Shifting operation in order to control the area ...

This paper presents a cell placement algorithm for 3D-Circuits. Compared to existing approaches, ... more This paper presents a cell placement algorithm for 3D-Circuits. Compared to existing approaches, our placer has a number of new features that delivers more realism and improved wire length. First, the algorithm balances the tier utilization considering the effect of 3D-Vias within two possible integration strategies: face-to-face and face-to-back. 3D-Vias count is limited to an upper bound, that is sensible to the area of the 3D-Via. Within the upper bound, the placer is free to add more 3D-Vias, fact that delivers an improved wire length, as demonstrated experimentally in the paper. Our algorithm is based on a true 3D Quadratic Placement engine with a 3D Cell Shifting method to spread the cells out and on an Iterative Refinement step that improves wire length. Experimental results show that our algorithm can improve the wire length compared to a 2D solution provided by the FastPlace algorithm from 15% up to 27% in average.

This paper discusses high level techniques for designing fault tolerant systems in SRAM-based FPG... more This paper discusses high level techniques for designing fault tolerant systems in SRAM-based FPGAs, without modification in the FPGA architecture. Triple Modular Redundancy (TMR) has been successfully applied in FPGAs to mitigate transient faults, which are likely to occur in space applications. However, TMR comes with high area and power dissipation penalties. The new technique proposed in this paper was specifically developed for FPGAs to cope with transient faults in the user combinational and sequential logic, while also reducing pin count, area and power dissipation. The methodology was validated by fault injection experiments in an emulation board. We present some fault coverage results and a comparison with the TMR approach.

Designing and testing fault-tolerant techniques for SRAM-based FPGAs

1Universidade Estadual do Rio Grande do Sul Engenharia de Sistemas Digitais Estrada Santa Maria 2... more 1Universidade Estadual do Rio Grande do Sul Engenharia de Sistemas Digitais Estrada Santa Maria 2300, Guaíba RS Brazil +55 51 491 40 42 fernanda-lima@uergs.edu.br ... 2Universidade Federal do Rio Grande do Sul PPGC Instituto de Informática DELET Caixa Postal: ...

Designing Fault-Tolerant Techniques for SRAM-Based FPGAs

IEEE Design & Test of Computers, 2004

An Automatic Technique for Optimizing Reed-Solomon Codes to Improve Fault Tolerance in Memories

IEEE Design & Test of Computers, 2005

THE TECHNOLOGICAL EVOLUTION of the IC fabri-cation process, consisting of device shrinking, power... more THE TECHNOLOGICAL EVOLUTION of the IC fabri-cation process, consisting of device shrinking, power sup-ply reduction, and increasing operating speeds, has significantly reduced the manufacturing yield and relia-bility of very deep-submicron (VDSM) ICs when various ...