Showing 1 - 10 of 21
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...
Persistent link: https://www.econbiz.de/10010289313
We build an endogenous growth model that distinguishes productive and welfare government expenditures and embeds fiscal externalities. The model yields three testable hypotheses: (i) productive expenditure raises growth (Barro effect); (ii) productive expenditure generates cross-country...
Persistent link: https://www.econbiz.de/10015444939
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...
Persistent link: https://www.econbiz.de/10010301530
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...
Persistent link: https://www.econbiz.de/10010270754
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...
Persistent link: https://www.econbiz.de/10009480039
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...
Persistent link: https://www.econbiz.de/10008564844
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....
Persistent link: https://www.econbiz.de/10005427651
We build an endogenous growth model that distinguishes productive and welfare government expenditures and embeds fiscal externalities. The model yields three testable hypotheses: (i) productive expenditure raises growth (Barro effect); (ii) productive expenditure generates cross-country...
Persistent link: https://www.econbiz.de/10015423850
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...
Persistent link: https://www.econbiz.de/10008739193
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...
Persistent link: https://www.econbiz.de/10008833450