We propose a simple and powerful method for determining the transition processin continuous-time DSGE models under Poisson uncertainty numerically. The idea isto transform the system of stochastic dierential equations into a system of functionaldierential equations of the retarded type. We then...

In this paper, we experimentally test the Modigliani-Miller theorem. Applying ageneral equilibrium approach and not allowing for arbitrage among ¯rms with differ-ent capital structure, we are able to address a question fundamental to the valuationof firms: does capital structure affect the...

This paper deals with a concept which shows how electronic market places support the traditional retail.

In der traditionellen koreanischen Dorfgemeinschaft gab es die Gepflogenheit der Zusammenarbeit bei anstrengenden und schweren Arbeiten, insbesondere beim Reispflanzen und beim Ausjähten. Ich will Ihnen als typisches Beispiel die Turé vorstellen.

This paper presents evidence on how farmers’ decisions to adopt a new crop, sunflower,relate to the adoption choices of farmers in their social network of family and friends. Weshow that the relationship is shaped as an inverse-U, suggesting social effects are positivewhen there are few...

This paper analyzes an environment where a plotof land is currently under agricultural use under tenancy, andboth the landlord and the tenant can invest to enhance agricultural productivity. There is the possibility of converting theland to non-agricultural use. We analyze the incentives of...

In this paper we review as well as contribute to the empirical literature on the impact of landreform on agricultural productivity in India. We find that, overall for all states, land-reform legislation had anegative and significant effect on agricultural productivity. However, this hides...