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The Rate of Discount for Benefit-Cost Analysis and Theory of the Second Best

Stiglitz, Joseph E. - 2002

In this paper I wish to present a way of thinking about what the rate of discount ought to be for evaluating projects within the public sector. The conclusion of my analysis is that there is not a convincing case that the social rate of time preference ought to be used. Nor is there a convincing...

Persistent link: https://www.econbiz.de/10014148256

An analytical solution for network models with heterogeneous and interacting agents

Di Guilmi, Corrado; Gallegati, Mauro; Landini, Simone; … - In: Journal of economic behavior & organization : JEBO 171 (2020), pp. 189-220

Persistent link: https://www.econbiz.de/10012288018

The Inequality Multiplier

Gallegati, Mauro - 2016

That of the multiplier is a largely debated issue. Several studies propose estimates for it. This paper answers the … question of how inequality affects the value of the multiplier. The proposed formulation is analytically derived from the … Lorenz curve of income by means of Zanardi asymmetry index. Since the relationship between inequality and multiplier is found …

Persistent link: https://www.econbiz.de/10012994328

Credit chains and bankruptcy propagation in production networks

Battiston, Stefano; Delli Gatti, Domenico; Gallegati, Mauro - In: Journal of economic dynamics & control 31 (2007) 6, pp. 2061-2084

Persistent link: https://www.econbiz.de/10003487864

Financially Constrained Fluctuations in an Evolving Network Economy

Gatti, Domenico Delli - 2008

We explore the properties of a credit network characterized by inside credit - i.e. credit relationships connecting … of the network changes over time due to the preferred-partner choice rule: each agent chooses the partner who charges the …

Persistent link: https://www.econbiz.de/10012464533