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The recent literature on firm-to-firm trade has documented salient empirical regularities of the buyer-seller network …
Persistent link: https://www.econbiz.de/10012534686
We present a multi-country theory of economic growth in which countries are connected by a network of mutual knowledge … industrial revolution, followed by decreasing relative inequality. Knowledge diffusion through a Small World network explains the …
Persistent link: https://www.econbiz.de/10011397182
Many data situations require the consideration of network effects among the cross-sectional units of observation. In … this paper, we present a generalized panel model which accounts for two features: (i) three types of network effects on the … error components, and (ii) higher-order network effects due to ex-ante unknown network-decay functions or the presence of …
Persistent link: https://www.econbiz.de/10012306579
In this paper, we develop a network perspective on the welfare gains from trade in today's internationally fragmented …
Persistent link: https://www.econbiz.de/10011986141
networks in the spatial diffusion of local economic shocks. We develop a network model that shows how a district's level of … prosperity is related to its position in the network. The network model's first-order conditions are used to derive an … underlying network structure can inform us about the potential gains from policies that increase economic activity in specific …
Persistent link: https://www.econbiz.de/10011825329
. Firm heterogeneity and the sparse nature of firm-to-firm connections implicitly discipline network structure. We find that …
Persistent link: https://www.econbiz.de/10013380905
-with-evaluation-errors theory that incorporates both dimensions and delivers sharp empirical predictions about their effect on choice behavior. We …
Persistent link: https://www.econbiz.de/10012602341
Robust decision making implies welfare costs or robustness premia when the approximating model is the true data generating process. To examine the importance of these premia at the aggregate level we employ a simple two-sector dynamic general equilibrium model with human capital and introduce an...
Persistent link: https://www.econbiz.de/10008697052
Persistent link: https://www.econbiz.de/10003496553
This paper extends the transformed maximum likelihood approach for estimation of dynamic panel data models by Hsiao, Pesaran, and Tahmiscioglu (2002) to the case where the errors are cross-sectionally heteroskedastic. This extension is not trivial due to the incidental parameters problem that...
Persistent link: https://www.econbiz.de/10009570680