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Growth and Human Capital: A Network Approach

Cavalcanti, Tiago; Giannitsarou, Chryssi - C.E.P.R. Discussion Papers - 2015

We study the interactions and dynamics of human capital, growth and inequality by explicitly embedding networks into a …

Persistent link: https://www.econbiz.de/10011201356

Local and Consistent Centrality Measures in Networks

Dequiedt, Vianney; Zenou, Yves - C.E.P.R. Discussion Papers - 2014

eigenvector centrality. The core of our argument hinges on the power of the consistency axiom, which relates the properties of the …

Persistent link: https://www.econbiz.de/10011083213

Do We Need Multi-Country Models to Explain Exchange Rate, Interest Rate and Bond Return Dynamics?

Hodrick, Robert J; Vassalou, Maria - C.E.P.R. Discussion Papers - 2001

This Paper examines characterizations of the dynamics for first and second moments of the one-month interest rate, the … models. Multi-country models are in several cases better able to explain the dynamics of one-month interest rates and the 12 … the one-month US interest rate, the second moments of the 12-month excess bond returns in US, Germany and Japan, as well …

Persistent link: https://www.econbiz.de/10005123846

The Cross-Section and Time-Series of Stock and Bond Returns

Koijen, Ralph; Lustig, Hanno; van Nieuwerburgh, Stijn - C.E.P.R. Discussion Papers - 2012

Value stocks have higher exposure to innovations in the nominal bond risk premium than growth stocks. Since the nominal bond risk premium measures cyclical variation in the market’s assessment of future output growth, this results in a value risk premium provided that good news about future...

Persistent link: https://www.econbiz.de/10011083286

Monopolies Life Cycle, Bureaucratization, and Schumpeterian Growth

Martimort, David; Verdier, Thierry - C.E.P.R. Discussion Papers - 2001

This Paper analyses the link between the internal organization of firms, their individual life cycle and the whole process of macroeconomic growth. We present a Schumpeterian growth model in which firms face dynamic agency costs. These agency costs are due to the formation of vertical collusions...

Persistent link: https://www.econbiz.de/10005123542

Vertical Integration and Distance to Frontier

Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2002

We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology frontier. In vertically integrated firms, owners (managers) have to spend time both on production and innovation activities, and this creates managerial overload, and...

Persistent link: https://www.econbiz.de/10005123937

Are Risk Aversion and Impatience Related to Cognitive Ability?

Dohmen, Thomas J; Falk, Armin; Huffman, David; Sunde, Uwe - C.E.P.R. Discussion Papers - 2008

Is the way that people make risky choices, or tradeoffs over time, related to cognitive ability? This paper investigates whether there is a link between cognitive ability, risk aversion, and impatience, using a representative sample of the population and incentive compatible measures. We conduct...

Persistent link: https://www.econbiz.de/10005666531

Are Risk Aversion and Impatience Related to Cognitive Ability?

Dohmen, Thomas J; Falk, Armin; Huffman, David; Sunde, Uwe - C.E.P.R. Discussion Papers - 2007

Persistent link: https://www.econbiz.de/10005067556

Gossip: Identifying Central Individuals in a Social Network

Banerjee, Abhijit; Chandrasekhar, Arun G; Duflo, Esther; … - C.E.P.R. Discussion Papers - 2014

Can we identify the members of a community who are best- placed to diffuse information simply by asking a random sample of in- dividuals? We show that boundedly-rational individuals can, simply by tracking sources of gossip, identify those who are most central in a network according to...

Persistent link: https://www.econbiz.de/10011083579

Trading and information diffusion in OTC markets

Babus, Ana; Kondor, Péter - C.E.P.R. Discussion Papers - 2013

We model trading and information diffusion in OTC markets, when dealers can engage in many bilateral transactions at the same time. We show that information diffusion is effective, but not efficient. While each bilateral price partially reveals all dealers' private information after a single...

Persistent link: https://www.econbiz.de/10011084704

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