Showing 1 - 10 of 48
We study fiscal devaluation in a small-open economy with labor market search frictions. Our analysis shows the key role of both dimensions in shaping the optimal tax scheme. By reducing labor market distortions, the tax reform is welfare-improving. Yet, as it makes imports more expensive, fiscal...
Persistent link: https://www.econbiz.de/10010899759
We provide a quantitative assessment of welfare costs of fluctuations in a search model with financial frictions. The matching process in the labor market leads positive shocks to reduce unemployment less than negative shocks increase it. We show that the magnitude of this non-linearity is...
Persistent link: https://www.econbiz.de/10011025686
In this note, we extend the Goyal and Joshi's model of network of collaboration in oligopoly to multi-market situations …
Persistent link: https://www.econbiz.de/10010899290
This paper takes a network perspective t oinvestigate how rural households in developing countries form the links …) matter for link formation. An estimation procedure of a network formation model à la Jackson and Wolinsky (1996) is proposed … link they also consider the wealth and the position of indirect contacts. The network externalities from indirect contacts …
Persistent link: https://www.econbiz.de/10010738748
network analysis, we characterise the structure of the R&D collaborations established between firms. Second, we investigate … put forward the existence of network effects alongside other microeconomic determinants of cooperation. Our findings … suggest that network effects are present, so that probability of collaboration is influenced by each individual's position …
Persistent link: https://www.econbiz.de/10008791153
clustering in their relative returns are mainly found within Event Driven and Relative Value strategies, iv) For relative returns …
Persistent link: https://www.econbiz.de/10011026186
This paper presents a theorical framework to model the evolution of a portfolio whose weights vary over time. Such a portfolio is called a dynamic portfolio. In a first step, considering a given investment policy, we define the set of the investable portfolios. Then, considering portfolio...
Persistent link: https://www.econbiz.de/10010635094
This paper presents a theorical framework to model the evolution of a portfolio whose weights vary over time. Such a portfolio is called a dynamic portfolio. In a first step, considering a given investment policy, we define the set of the investable portfolios. Then, considering portfolio...
Persistent link: https://www.econbiz.de/10010738666
This article uses graph theory to provide novel evidence regarding market integration, a favorable condition for systemic risk to appear in. Relying on daily futures returns covering a 12-year period, we examine cross- and inter-market linkages, both within the commodity complex and between...
Persistent link: https://www.econbiz.de/10010820627
A stable government is by definition not dominated by any other government. However, it may happen that all governments are dominated. In graph-theoretic terms this means that the dominance graph does not possess a source. In this paper we are able to deal with this case by a clever combination...
Persistent link: https://www.econbiz.de/10008789071