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Modelling the economic interaction of agents with diverse abilities to recognise equilibrium patterns

Piccione, Michele; Rubinstein, Ariel - London School of Economics (LSE) - 2002

We model differences among agents in their ability to recognise temporal patterns of prices. Using the concept of DeBruijin sequences in two dynamic models of markets, we demonstrate the existence of equilibria in which prices fluctuate in a pattern that is independent of the fundamentals and...

Persistent link: https://www.econbiz.de/10010745837

Long term implications of the ICT revolution: applying the lessons of growth theory and growth accounting

Oulton, Nicholas - London School of Economics (LSE) - 2010

How big a boost to long run growth can countries expect from the ICT revolution? I use the results of growth accounting and the insights from a two-sector growth model to answer this question. The use of a two-sector rather than a one-sector model is required because of the very rapid rate at...

Persistent link: https://www.econbiz.de/10010884516

Structural models of the wage curve estimated by panel data and cross-section regressions

Gerba, Eddie; Pikoulakis, Emmanuel V.; Wisniewski, … - London School of Economics (LSE) - 2014

Introducing equilibrium unemployment to the solution of the intertemporal allocation of non-leisure time, we derive two wage-setting models which we estimate by panel data and cross-section regressions applied on aggregative data. The results support the empirical relation known as the...

Persistent link: https://www.econbiz.de/10011126124

The influence of neighbourhood effects on education decisions in a nationally funded education system : the case of Australia

Overman, Henry G.; Heath, Alex - London School of Economics (LSE) - 2000

Empirical papers studying the effects of neighbourhood characteristics on socio-economic variables have predominantly used US data. We argue that the local nature of the US schooling system means that neighbourhood effects on education decisions may act through fiscal or social channels. We use...

Persistent link: https://www.econbiz.de/10010884514

Auctioning conservation contracts in the presence of externalities

Calel, Raphael - London School of Economics (LSE) - 2010

Current models of conservation auctions do not permit for the presence of environmental externalities and synergies … environmental externalities. Clearly, our models do not tell the whole story, and they consequently fail to identify waste and … inefficiency in these auctions. Our paper shows how externalities between bidders can be incorporated into our models of …

Persistent link: https://www.econbiz.de/10010745522

Externalities in the matching of workers and firms in Britain

Burgess, Simon; Profit, Stefan - London School of Economics (LSE) - 2001

We provide empirical evidence on the nature of spatial externalities in a matching model for the UK. We use a monthly …

Persistent link: https://www.econbiz.de/10010745980

Valuation and evaluation: measuring the quality of life and evaluating policy

Dasgupta, Partha - London School of Economics (LSE) - 2000

This paper is about measuring social well-being and evaluating policy. Part I is concerned with the links between the two, while Parts II and III, respectively, are devoted to the development of appropriate methods of measuring and evaluating. In Part II (Sections 4-7) I identify a minimal set...

Persistent link: https://www.econbiz.de/10010746162

Optimal control of externalities in the presence of income taxation

Kaplow, Louis - London School of Economics (LSE) - 2010

AA substantial literature examines second-best environmental policy, focusing particularly on how the Pigouvian directive that marginal taxes should equal marginal external harms needs to be modified in light of the preexisting distortion due to labor income taxation. Additional literature is...

Persistent link: https://www.econbiz.de/10011126406

Financial intermediation, variability and the development process

Carranza, Luis; Galdón-Sánchez, Jose E. - London School of Economics (LSE) - 2000

In this paper we have built a model of financial intermediation that explains the GDP variability pattern of an economy during the development process. In our model, per capita is more volatile in the middle-income economies than in both low and high-income economies. We show that, if the model...

Persistent link: https://www.econbiz.de/10011071114

Mobility and school disruption

Gibbons, Stephen; Telhaj, Shqiponja - London School of Economics (LSE) - 2007

disruptive externalities of mobility are statistically significant, but actually very small in terms of their educational impact …

Persistent link: https://www.econbiz.de/10011071223