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Persistent link: https://www.econbiz.de/10009385145
This paper evaluates the impact of privatization on the development of capital markets in a two-country general equilibrium model. We draw particular attention to two divestment techniques, share issue privatizations (in developed market systems) and voucher privatizations (in transition...
Persistent link: https://www.econbiz.de/10011598320
We study the stability of social and economic networks when players are farsighted. In particular, we examine whether the networks formed by farsighted players are different from those formed by myopic players. We adopt Herings, Mauleon and Vannetelbosch's (Games and Economic Behavior,...
Persistent link: https://www.econbiz.de/10008811032
The global energy crisis that began in fall 2021 and the following spike in energy price constitute a major challenge for the world economy which risks undermining the post-COVID-19 recovery. In this paper, we develop and validate a new macroeconomic agent-based model with an endogenous energy...
Persistent link: https://www.econbiz.de/10012990154
The Water, Energy, Food and Ecosystems (WEFE) nexus refers to the system of complex and highly non-linear interconnections between these four elements. It now represents the basic framework to assess and design policies characterized by an holistic environmental end economical perspective. In...
Persistent link: https://www.econbiz.de/10013463756
Persistent link: https://www.econbiz.de/10013259518
We study the distributional consequences of COVID-19 by using a stock-flow consistent agent-based model that captures some of the aspects of pandemic-related lockdowns. In particular, the model distinguishes between "essential" and "non-essential" industries, between jobs that can be done from...
Persistent link: https://www.econbiz.de/10014227899
Worldwide, with different frequencies and magnitudes, coastlines are increasingly being affected by climate change hazards. The high urbanization rate, due to economic opportunities and natural amenities, further exacerbates vulnerabilities in these areas, requiring prompt and effective...
Persistent link: https://www.econbiz.de/10013332204
The subprime crisis led to a wave of government interventions in the private sector that has been particularly strong in Europe and Latin America, where several governments are large shareholders in a variety of public firms. In a sense, the subprime crisis induced these governments to behave as...
Persistent link: https://www.econbiz.de/10011405286
The Prospect Theory proposes to assess outcomes relative to a reference point (or benchmark). Although the literature … recognises the relevance of dynamic benchmarks, most of the applications of Prospect Theory employ static reference points (or a … status quo). This paper aims to develop a Prospect Theory framework for investment under uncertainty subject to a dynamic …
Persistent link: https://www.econbiz.de/10003904295