We pursue an economic approach to analysing poverty. This requires a focus onthe variables that individuals can influence, such as forming or dissolving aunion or having children. We argue that this indirect approach to modellingpoverty is the right way to bring economic tools to bear on the...

The transition from a command economy in the FSU resulted in increasedactivities in the informal sector. However despite prevalent delays in wagepayments many workers were still observed to be working full-time in theformal sector. Here a model of workers' labour supply decisions...

My assignment today is to comment on Community Issues that are likely to emerge during thetransition to a bioeconomy. There are many issues and some myths that are drivers of change inthis transition. World hunger, biotechnology, food versus fuel, and indirect land use; organic,natural, local...

This paper reviews and synthesizes the theory of information economics and empiricalevidence on how information changes the behavior of consumers, households and firms. I show thatconsumers respond to new information in food experiments but perhaps not in retirement accountmanagement. Some...

Agent-based Computational Economics (ACE) is the computational study of economic processesmodeled as dynamic systems of interacting agents. This essay discusses the potentialuse of ACE modeling tools for the study of macroeconomic systems. Points are illustratedusing an ACE model of a two-sector...

This study explores the use of the agent based computational economics (ACE) technique to address the question of how a Treasury should auction its securities. In particular, this study explores whether a Treasury should use a discriminatory-price rule. Buyers are modeled as profit seekers that...

This paper takes a discrete-time adaptation of the continuous−time matching economy described in Pissarides (1990, 2000), and computes the solution to the dynamic planning problem. The solution is shown to be completely characterized by a first−order, non−linear map. We show that the map...

In this paper, we investigate the long-run effects of World War II on socio-economic status(SES) and health of older individuals in Europe. Physical and psychological childhood eventsare important predictors for labor market and health outcomes in adult life, but studies thatquantify these...