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...

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...

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 considers a model of economic network characterized by an endogenous architecture and frictions in the relations among agents as described in Bala and Goyal (2000). We propose a similar network model with the difference that frictions in the relations among agents are endogenous....

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...

The paper looks at various scenarios of possible concern for intervening third parties when two factions are engaged in a conflict and act strategically against one another. A standard conflict model is used to determine appropriate intervention strategies in order to lower the overall level of...

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...

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 article analyzes the dynamic portfolio choice implications of strategic interaction among money managers. The strategic interaction emerges as the managers compete for money flows displaying empirically documented convexities. A manager gets money flows increasing with performance, and...