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Current Account Imbalances and Income Inequality: Theory and Evidence

Al-Hussami, Fares; Remesal, Álvaro Martín - Institut für Weltwirtschaft (IfW) - 2012

In this paper we analyze theoretically and empirically the impact of an increase in income inequality on the current account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in income inequality can affect negatively or positively...

Persistent link: https://www.econbiz.de/10010886828

(S,s) pricing: Does the heterogeneity wipe out the asymmetry on micro level?

Babutsidze, Zakaria - Institut für Weltwirtschaft (IfW) - 2010

over on macro level and what is the role of agent heterogeneity in the process. We look at two kinds of asymmetries: (i … conclude that the first type of asymmetry can be attributed to the differences in adjustment bands and that heterogeneity … softens this effect. The second type of asymmetry is the result of pricing behavior, thus of agent heterogeneity itself. …

Persistent link: https://www.econbiz.de/10008597181

Modeling Maximum Entropy and Mean-Field Interaction in Macroeconomics

Di Guilmi, Corrado; Gallegati, Mauro; Landini, Simone - Institut für Weltwirtschaft (IfW) - 2008

agents in conditions of uncertainty. Heterogeneity entails asymmetric reactions to shocks and, through interaction mechanisms …

Persistent link: https://www.econbiz.de/10005097468

Exporting and the Environment: A New Look with Micro-Data

Girma, Sourafel; Hanley, Aoife; Tintelnot, Felix - Institut für Weltwirtschaft (IfW) - 2008

Previous aggregate studies ignore additional environmental improvements caused by intra industry reallocations to high productivity/ low pollution firms. They also fail to consider potential differences in abatement efforts by exporting status. Our estimation based on UK firm level data from...

Persistent link: https://www.econbiz.de/10005700566

Hiring chains and the dynamic behavior of job and worker flows

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2011

the unemployment rate. I show that a simple frictionless business cycle model with heterogeneity and a simple form of on …

Persistent link: https://www.econbiz.de/10009149140