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Halko, Marja-Liisa; Salonen, Hannu - 2008

We study the existence of pure strategy Nash equilibria in finite congestion and coordination games. Player set is divided into two disjoint groups, called men and women. A man choosing an action a is better off if the number of other men choosing a decreases, or if the number of women choosing...

Persistent link: https://www.econbiz.de/10012502982

Coordination in the Labor Market

Halko, Marja-Liisa; Virrankoski, Juha - 2011

We solve the equilibrium market structure in a labor market where vacancies and unemployed workers can meet either in an intermediated market where wages are determined by take-it-orleave- it offers, or in a directed search market where firms post wages. By using an intermediary agents avoid the...

Persistent link: https://www.econbiz.de/10012503018

Mutually Best Matches

Salonen, Hannu; Salonen, Mikko A.A. - 2016

individually rational matching, the matching has many good properties like Pareto optimality and stability. If preferences satisfy … matching. These properties guarantee also that the student proposing Deferred Acceptance algorithm (DA) and the Top Trading … Cycles algorithm (TTC) produce the same matching as IMB. We compare these results with some well-known results about when DA …

Persistent link: https://www.econbiz.de/10012503062

A Cluster and a Search Market CanCoexist

Virrankoski, Juha - 2019

I examine a rational expectations model of buyers and capacity con-strained sellers, where traders can choose between a cluster and a searchmarket. Sellers choose a market and post a price, and then buyerschoose which market to visit. There is a pure strategy equilibriumwhere all agents are in...

Persistent link: https://www.econbiz.de/10012503081

Higher wages and capital intensity: a closer look

Viren, Matti - 2006

This paper focuses on the relationship between higher wages and capital intensity. The relationship itself is by no means a novel finding but we try to provide a meaningful theoretical explanation for the relationship and empirical evidence on its exact nature. Our explanation is the outcome of...

Persistent link: https://www.econbiz.de/10012502967

Quest for the best: How to measure central bank independence and show its relation with inflation?

Maslowska, Aleksandra - 2008

We use several numerical tests in order to receive answers to our three questions. First, this paper aims to indicate, which measure of central bank independence explains economic changes the most accurately, and hence gives the most exact guidance onto institutional design of monetary...

Persistent link: https://www.econbiz.de/10012502991

Central bank independence and sovereign debt crisis. Any link?

Heimonen, Kari; Maslowska-Jokinen, Aleksandra - 2014

In this paper we ask if central bank independence could lead to a bad fiscal position of some countries. Introducing autonomous central bank without changing other policy habits could expose the country to greater temptation to borrow money. We think that introducing high degree of CBI creates...

Persistent link: https://www.econbiz.de/10012503047

Regional differences in housing price dynamics: Panel data evidence

Oikarinen, Elias; Engblom, Janne - 2014

In this study, regional differences in housing price dynamics are examined empirically using panel data models. We concentrate on examining the momentum dynamics and the reversion speed towards fundamental price level. The analysis can be seen as a test for the validity of conventionally used...

Persistent link: https://www.econbiz.de/10012503048

Learning about the term structure and optimal rules for inflation targeting

Tesfaselassie, Mewael F.; Schaling, Eric; Eijffinger, … - 2006

In this paper we incorporate the term structure of interest rates in a standard inflation forecast targeting framework.We find that under flexible inflation targeting and uncertainty in the degree of persistence in the economy, allowing for active learning possibilities has effects on the...

Persistent link: https://www.econbiz.de/10010273990