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Social Networks and Crime Decisions: The Role of Social Structure in Facilitating Delinquent Behavior

Calvó-Armengol, Antoni; Zenou, Yves - Barcelona Graduate School of Economics (Barcelona GSE) - 2003

We develop a model in which delinquents compete with each other in criminal activities but may benefit from being friends with other criminals by learning and acquiring proper know-how on the crime business. By taking the social network connecting agents as given, we study the subgame perfect...

Persistent link: https://www.econbiz.de/10010851398

Heterogeneity, Selection and Labor Market Disparities

Bonfiglioli, Alessandra; Gancia, Gino - Barcelona Graduate School of Economics (Barcelona GSE) - 2015

We study the incentives to improve ability in a model where heterogeneous firms and workers interact in a labor market characterized by matching frictions and costly screening. When effort in improving ability raises both the mean and the variance of the resulting ability distribution, multiple...

Persistent link: https://www.econbiz.de/10011261234

Discrete Devaluations and Multiple Equilibria in a First Generation Model of Currency Crises

Broner, Fernando A - Barcelona Graduate School of Economics (Barcelona GSE) - 2006

The rst generation models of currency crises have often been criticized because they predict that, in the absence of very large triggering shocks, currency attacks should be predictable and lead to small devaluations. This paper shows that these features of rst generation models are not robust...

Persistent link: https://www.econbiz.de/10010547109

Riding the South Sea Bubble

Temin, Peter; Voth, Hans-Joachim - Barcelona Graduate School of Economics (Barcelona GSE) - 2003

This paper presents a case study of a well-informed investor in the South Sea bubble. We argue that Hoare's Bank, a fledgling West End London banker, knew that a bubble was in progress and that it invested knowingly in the bubble; it was profitable to "ride the bubble." Using a unique dataset on...

Persistent link: https://www.econbiz.de/10010851420

Theoretical Notes on Bubbles and the Current Crisis

Martin, Alberto; Ventura, Jaume - Barcelona Graduate School of Economics (Barcelona GSE) - 2010

We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...

Persistent link: https://www.econbiz.de/10010851442

Managing Credit Bubbles

Martín, Alberto; Ventura, Jaume - Barcelona Graduate School of Economics (Barcelona GSE) - 2015

are too low. In this environment, changes in investor sentiment or market expectations can give rise to credit bubbles … instead by expectations of future credit (i.e. bubbly collateral). Credit bubbles raise the availability of credit for …

Persistent link: https://www.econbiz.de/10011266628

Economic Growth with Bubbles

Ventura, Jaume; Martin, Alberto - Barcelona Graduate School of Economics (Barcelona GSE) - 2010

We develop a stylized model of economic growth with bubbles. In this model, financial frictions lead to … equilibriumdispersion in the rates of return to investment. During bubbly episodes, unproductive investors demand bubbles while productive … dynamically ineﬃcient: otherwise, there would be no demand for bubbles. This dynamic ineficiency, however, might be generated by …

Persistent link: https://www.econbiz.de/10010547394

Understanding Bubbly Episodes

Carvalho, Vasco; Martín, Alberto; Ventura, Jaume - Barcelona Graduate School of Economics (Barcelona GSE) - 2012

Persistent link: https://www.econbiz.de/10010547407

Riding the South See Bubble

Temin, Peter; Voth, Hans-Joachim - Barcelona Graduate School of Economics (Barcelona GSE) - 2004

This paper presents a case study of a well-informed investor in the South Sea bubble. We argue that Hoare's Bank, a fledgling West End London banker, knew that a bubble was in progress and nonetheless invested in the stock; it was profitable to "ride the bubble." Using a unique dataset on daily...

Persistent link: https://www.econbiz.de/10010547500