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Pairwise-Stability and Nash Equilibria in Network Formation

Calvó-Armengol, Antoni; Ilkiliç, Rahmi - Barcelona Graduate School of Economics (Barcelona GSE) - 2004

Suppose that individual payoffs depend on the network connecting them. Consider the following simultaneous move game of … network formation: players announce independently the links they wish to form, and links are formed only under mutual consent …. We provide necessary and sufficient conditions on the network link marginal payoffs such that the set of pairwise stable …

Persistent link: https://www.econbiz.de/10010547332

Experiencing Simulated Outcomes

Hogarth, Robin; Soyer, Emre - Barcelona Graduate School of Economics (Barcelona GSE) - 2010

Whereas much literature has documented difficulties in making probabilistic inferences, it has also emphasized the importance of task characteristics in determining judgmental accuracy. Noting that people exhibit remarkable efficiency in encoding frequency information sequentially, we construct...

Persistent link: https://www.econbiz.de/10010547101

From Micro to Macro via Production Networks

Carvalho, Vasco M. - Barcelona Graduate School of Economics (Barcelona GSE) - 2014

that this network perspective on production linkages can offer novel insights on the sources of aggregate fluctuations. To …

Persistent link: https://www.econbiz.de/10011272282

Online Appendix to Priors about Observables in Vector Autoregressions

Jarocinski, Marek; Marcet, Albert - Barcelona Graduate School of Economics (Barcelona GSE) - 2013

Online appendix to Barcelona GSE Working Paper No. 684

Persistent link: https://www.econbiz.de/10010851404

Contrasting Bayesian and Frequentist Approaches to Autoregressions: the Role of the Initial Condition

Jarociński, Marek; Marcet, Albert - Barcelona Graduate School of Economics (Barcelona GSE) - 2014

The frequentist and the Bayesian approach to the estimation of autoregressions are often contrasted. Under standard assumptions, when the ordinary least squares (OLS) estimate is close to 1, a frequentist adjusts it upwards to counter the small sample bias, while a Bayesian who uses a at prior...

Persistent link: https://www.econbiz.de/10011019705

Estimating Overidentified, Nonrecursive Time-Varying Coefficients Structural VARs

Canova, Fabio; Forero, Fernando J. Pérez - Barcelona Graduate School of Economics (Barcelona GSE) - 2012

This paper provides a method to estimate time varying coefficients structural VARs which are non-recursive and potentially overidentified. The procedure allows for linear and non-linear restrictions on the parameters, maintains the multi-move structure of standard algorithms and can be used to...

Persistent link: https://www.econbiz.de/10011019708

A Medium-Scale New Keynesian Open Economy Model of Australia

Jääskelä, Jarkko P.; Nimark, Kristoffer - Barcelona Graduate School of Economics (Barcelona GSE) - 2011

We estimate a new Keynesian open economy dynamic stochastic general equilibrium model of Australia with a large number of shocks, frictions and rigidities, matching a large number of observable time series. We find that both foreign and domestic shocks are important drivers of the Australian...

Persistent link: https://www.econbiz.de/10010547106

The effects of fiscal expansions: an international comparison

Pappa, Evi - Barcelona Graduate School of Economics (Barcelona GSE) - 2009

We compare the transmission of fiscal shocks in four OECD countries and in the Euro area. Fiscal shocks are identified in a SVAR by the restrictions that disturbances to government consumption, government investment and government employment increase output and deficits contemporaneously. These...

Persistent link: https://www.econbiz.de/10010547365

ClubMed Cyclical Fluctuations in the Mediterranean Basin

Canova, Fabio; Ciccarelli, Matteo - Barcelona Graduate School of Economics (Barcelona GSE) - 2011

We investigate the similarities of macroeconomicﬂuctuations in the Mediterranean basin and their convergence. A model with three geo-political indicators, covering the West, the East and the MENA portions of the Mediterranean, characterizes well the historical experience since the early 1980....

Persistent link: https://www.econbiz.de/10010692000

Priors about Observables in Vector Autoregressions

Jarocinski, Marek; Marcet, Albert - Barcelona Graduate School of Economics (Barcelona GSE) - 2013

Standard practice in Bayesian VARs is to formulate priors on the autoregressive parameters, but economists and policy makers actually have priors about the behavior of observable variables. We show how this kind of prior can be used in a VAR under strict probability theory principles. We state...

Persistent link: https://www.econbiz.de/10010632932