We extend the theory of tax incidence under Cournot-Nash oligopolistic competition to study the effects of an ad valorem sales tax on Web services (so-called Web Tax) that are provided free of charge to users, and produce advertising space sold to businesses. Ads are more valuable to advertisers...

We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...

We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules....

Capturing financial network linkages and contagion in stress test models are important goals for banking supervisors and central banks responsible for micro- and macroprudential policy. However, granular data on financial networks is often lacking, and instead the networks must be reconstructed...

We perform a network analysis of the centrally cleared interest rate derivatives market in the European Union, by looking at counterparty relations within both direct (house) clearing and client clearing. Since the majority of the gross notional is transferred within central counterparties and...

Many European policy initiatives continue to promote R&D collaboration in view of its expected benefits. Despite the advantages of R&D cooperation, to benefit from it, firms must create a structure to support the efficient transfer of knowledge-based assets. In fact, the set-up and...

The EU Single Market remains fragmented by complex and heterogeneous rules at the EU and national levels affecting trade, capital, including foreign direct investment, and labour mobility. Further development of the Single Market and removing barriers to external trade would bring substantial...

This exploratory study looks at the structural and geographical patterns of corporate knowledge flows from a regional perspective. The methodological approach combines the centrality indicators developed in the social network analysis (SNA) and complementary tools from the graphs theory to...

This paper explores the definition, measurement, and policy implications of digital trade, proposing a tentative typology of digital trade that can be used to unpack transactions and analyse the issues. Digitalisation is changing what and how we trade: from digital delivery to greater physical...

This paper contains an analysis of the network of the 29 largest European insurance groups and their financial counterparties. Insurance companies have direct exposures to other insurers, banks and other financial institutions through the holdings of debt, equity and other financial instruments....