Similar Search Results

Dissonance Minimization and Conversation in Social Networks

Anufriev, Mikhail; Borissov, Kirill; Pakhnin, Mikhail - 2021

We study a model of social learning in networks where the dynamics of beliefs are driven by conversations of dissonance-minimizing agents. Given their current beliefs, agents make statements, tune them to the statements of their associates, and then revise their beliefs. We characterize the...

Persistent link: https://www.econbiz.de/10012799733

Preferences for consistency

Falk, Armin; Zimmermann, Florian - 2011

This paper studies how a preference for consistency can affect economic decision-making. We propose a two-period model where people have a preference for consistency because consistent behavior allows them to signal personal and intellectual strength. We then present three experiments that study...

Persistent link: https://www.econbiz.de/10010277353

Monetary Policies of Large Industrialised Countries, Emerging Market Credit Cycles and Feedback Effects

Hoffmann, Andreas; Schnabl, Gunther - 2014

This paper explores the link between monetary policies of large industrial countries and international credit cycles. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of large centre countries can fuel credit booms in...

Persistent link: https://www.econbiz.de/10010352379

Risk-Sharing and Contagion in Networks

Cabrales, Antonio; Gottardi, Piero; Vega-Redondo, Fernando - 2014

We investigate the trade-off between the risk-sharing gains enjoyed by more interconnected firms and the costs resulting from an increased risk exposure. We find that when the shock distribution displays “fat” tails, extreme segmentation into small components is optimal, while minimal...

Persistent link: https://www.econbiz.de/10010352416

Contagious Exporting and Foreign Ownership: Evidence from Firms in Shanghai Using a Bayesian Spatial Bivariate Probit Model

Baltagi, Badi H.; Egger, Peter H.; Kesina, Michaela - 2018

contagion and spillovers in exporting and in foreign ownership decisions within an area of 10 miles in the city of Shanghai … amplify fixed-cost reductions for both exporting as well as foreign ownership of neighboring firms. Contagion among exporters …

Persistent link: https://www.econbiz.de/10011872050

Energy Contagion Analysis: A New Perspective with Application to a Small Petroleum Economy

Mahadeo, Scott M. R.; Heinlein, Reinhold; Legrenzi, … - 2018

We put forward the novel concept of energy contagion, i.e. a deepening of energy-finance linkages under crisis periods …-skewness, and co-volatility contagion tests. Our analysis is applied to the oil-exchange rate and oil-stock market relationships of … the small petroleum economy of Trinidad and Tobago. By defining our samples for the contagion measures in terms of calm …

Persistent link: https://www.econbiz.de/10011932029

Lender of last resort and bank closure policy

Freixas, Xavier; Parigi, Bruno Maria - 2008

of last resort and other safety net issues. We devote particular emphasis to the analysis of systemic risk and contagion …

Persistent link: https://www.econbiz.de/10010264351

Volatility spillovers and contagion from mature to emerging stock markets

Beirne, John; Caporale, Guglielmo Maria; … - 2009

This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the transmission mechanismcontagionduring turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature), regional, and local markets are estimated for 41 emerging...

Persistent link: https://www.econbiz.de/10010264556

Global and regional spillovers in emerging stock markets : a multivariate GARCH-in-mean analysis

Beirne, John; Caporale, Guglielmo Maria; … - 2009

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of...

Persistent link: https://www.econbiz.de/10010265964

Stock market integration between three CEECs, Russia and the UK

Caporale, Guglielmo Maria; Spagnolo, Nicola - 2010

Russia. The adopted framework allows to analyse interdependence by estimating volatility spillovers, and also contagion by … evidence on possible changes in the transmission mechanism (namely, on whether there is contagion) can be obtained by examining … spillovers between the three CEECs considered and the UK (contagion). …

Persistent link: https://www.econbiz.de/10010270472