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The Economic Consequences of Social Network Structure
Jackson, Matthew O.; Rogers, Brian; Zenou, Yves - C.E.P.R. Discussion Papers - 2015
We survey the literatures on the economic consequences of the structure of social networks. We develop a taxonomy of 'macro' and 'micro' characteristics of social inter-action networks and discuss both the theoretical and empirical findings concerning the role of those characteristics in...
Persistent link: https://www.econbiz.de/10011165640
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How Persistently do Firms Innovate?
Geroski, Paul A; Samiei, Hossein; Van Reenen, John - C.E.P.R. Discussion Papers - 1996
This paper examines the innovative history of a number of UK firms using two large databases, looking for evidence consistent with the view that firms who innovate typically do so persistently. The first sample contains 3,304 firms who registered at least one patent in the United States during...
Persistent link: https://www.econbiz.de/10005136678
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Preferences for Consistency
Falk, Armin; Zimmermann, Florian - C.E.P.R. Discussion Papers - 2011
This paper studies how a preference for consistency can affect economic decisionmaking. We propose a two-period model where people have a preference for consistency because consistent behavior allows them to signal personal and intellectual strength. We then present three experiments that study...
Persistent link: https://www.econbiz.de/10009293989
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Euro Area Government Bonds—Integration and Fragmentation During the Sovereign Debt Crisis
Ehrmann, Michael; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2015
tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in … same time, Italy and Spain became more interdependent after the OMT announcement, providing our only evidence of contagion …
Persistent link: https://www.econbiz.de/10011276387
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Bank Networks: Contagion, Systemic Risk and Prudential Policy
Aldasoro, Iñaki; Delli Gatti, Domenico; Faia, Ester - C.E.P.R. Discussion Papers - 2015
traded quantities are determined by means of a matching algorithm. Contagion occurs through liquidity hoarding, interbank …
Persistent link: https://www.econbiz.de/10011252622
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Sovereign spreads in the Euro area: Which prospects for a Eurobond?
Favero, Carlo A.; Missale, Alessandro - C.E.P.R. Discussion Papers - 2011
In this paper, we provide new evidence on the determinants of sovereign yield spreads and contagion effects in the euro … contagion driven by shifts in market sentiment. This evidence points to a discontinuity in the disciplinary role of financial …
Persistent link: https://www.econbiz.de/10009367426
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Spillovers from the Euro Area Sovereign Debt Crisis: A Macroeconometric Model Based Analysis
Bayoumi, Tamim; Vitek, Francis - C.E.P.R. Discussion Papers - 2011
This paper analyzes past and possible future spillovers from the Euro Area Sovereign Debt Crisis, both within the Euro Area and to the rest of the world. This analysis is based on a structural macroeconometric model of the world economy, disaggregated into fifteen national economies. We find...
Persistent link: https://www.econbiz.de/10009207522
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Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure
Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2009
This paper models the causes of the 2008 financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. Our analysis is conducted on a cross-section of 85 countries; we focus on international linkages that may have allowed the crisis to spread across...
Persistent link: https://www.econbiz.de/10008528523
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Looking for Contagion: the Evidence from the ERM
Favero, Carlo A.; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2000
This paper applies a full-information technique to test for the presence of contagion across the money markets of ERM … members. We show that whenever it is possible to estimate a model for interdependence, a test for contagion based o a full … information technique is more powerful. We test for the presence of contagion after having identified episodes of country …
Persistent link: https://www.econbiz.de/10005123753
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Currency Crises: A Perspective on Recent Theoretical Developments
Jeanne, Olivier - C.E.P.R. Discussion Papers - 1999
This paper puts recent theoretical developments in the literature on currency crises in perspective by comparing two theoretical approaches, one based on the speculative attack model of Krugman-Flood-Garber and the other approach, which evolved following the 1992-93 crisis of the European...
Persistent link: https://www.econbiz.de/10005123792