We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With stochastic signals a unique equilibrium emerges that involves separation and has intuitive comparative-static properties as the degree of signaling depends on the prior type...

The analysis of this paper examines the uniqueness of equilibria in a broad class of dynamic monetary models that satisfy Lucas's (1972) natural rate hypothesis (NRH). For a given demand specification, the resulting bounds for determinacy on monetary policy's interest rate rule are the same for...

This paper studies how credit constraints develop over bank relationships. I analyze a unique dataset of matched loan application and loan contract information and measure credit constraints as the ratio of requested to granted loan amounts. I find that the most important determinants of...

We propose a theory that explains why rational agents start to believe in a causal relationship between unrelated events. Agents send and collect messages through a communication network. If they are convinced of a relationship between two events, they send messages confirming their belief with...

Gender perspective on regional development and innovation in the food industry in Skåne Working with applied research on gender, innovation and the food process industry in Skåne, we can conclude that gender is a necessary category in develop both industry and enhance regional development...

Although conceptual support for the relevance of social capital as an antecedent of innovation has received much theoretical attention over recent years, measurement and quantitative evidence are scarce, particularly in regional contexts. Available empirical research referring to different units...

Scientists and the general public agree that the rural world is characterized by a strong attachment to traditional values, and lacks a sense of initiative, creativity and innovation. This, supposedly, is why the rural world is lagging behind in development. Even if rural people are typically...