Countries' capital account policies might be contagious in the sense that domestic policies are driven by other countries' policies. A model of strategic interactions is developed to show that countries' best response to policy changes elsewhere consists in imitating this policy. Using a spatial...

This study analyzes the impact of the introduction of the first sectoral minimum wage in 1997 in the German construction sector on hourly wages and their distribution. The minimum wage was introduced only in certain sub-sectors of the industry and just blue-collar workers were eligible. In the...

Building Agent-Based Models requires assumptions (as does building any model).The advantage of ABM is the assumptions can be realistic, rather than made in order to solve a calculus-based problem. But what does "realistic" mean? I shall outline the issues of verification of a model (is it...

Countries' capital account policies might be contagious in the sense that domestic policies are driven by other countries' policies. A model of strategic interactions is developed to show that countries' best response to policy changes elsewhere consists in imitating this policy. Using a spatial...

This paper is concerned with the reception and interpretation of Paolo Sylos Labini?s theory of oligopoly since its inception. The most striking feature of the history of this reception is that, following a series of successive reinterpretations, the scope of his approach was gradually reduced...

Generally, two facts occur with strategic complementarities and fixed prices: i) the equilibria are multiple, and ii) if the complementarities are strong, the law of demand is violated and the equilibrium is unstable. In this paper, we analyse the effect of price flexibility on these features as...

Many motivations exist that cause legislators to behave strategically when voting. However, it is difficult to uncover the magnitude of the interaction among politicians. This paper takes a “spatial” approach to the problem, using a spatial autoregressive model where the elements of the...