Abstract: The European sovereign debt crisis is characterized by the simultaneous surge in borrowing costs in the GIPS countries after 2008. We present a theory, which can account for the behavior of sovereign bond spreads in Southern Europe between 1998 and 2012. Our key theoretical argument is...

Impersonal exchange has been a major driver of economic development. But transactors with no stake in maintaining an ongoing relationship have little incentive to honor deals. Therefore, all economies have developed institutions to support honest trade and realize the gains of impersonal...

A random intersection graph is constructed by independently assigning each vertex a subset of a given set and drawing an edge between two vertices if and only if their respective subsets intersect. In this paper a model is developed in which each vertex is given a random weight, and vertices...

The citation network of the International Journal of Research in Marketing (IJRM) is examined from 1981 to 1995. We propose a model that contains log-linear and logmultiplicative terms to estimate simultaneously the importance, cohesion, and structural equivalence of journals in the network...

This paper studies the relationships between managers’ a¢ liations with Freema- sonry and companies' performance. Using a unique data set of 410 companies quoted on the London Stock Exchange between 1895 and 1902, I find that Masonic managers were associated with greater access to credit in...

Recently a variety of link-based stability concepts have emerged in the literature on game theoretic models of social network formation.We investigate two basic formation properties that establish equivalence between some well known types of stable networks and their natural extensions.These...