In this paper, we show both theoretically and empirically that the size of over-the-counter (OTC) markets can be reduced without affecting individual net positions. First, we find that the networked nature of these markets generates an excess of notional obligations between the aggregate gross...

This paper reviews the governance framework of the Lisbon Strategy and discusses the specific option of increasing the role of benchmarking as a means of improving the implementation record of structural reforms in the European Union. Against this background, the paper puts forward a possible...

This study uses GLOBIOM ‒ the most detailed global economic model of agriculture, land use and greenhouse gas (GHG) emissions ‒ to assess the effectiveness of different policies in cutting net emissions from the Agriculture, Forestry and Other Land Use (AFOLU) sector, with a view to helping...

The static model of two sided markets proposed by Rochet and Tirole analyses optimal pricing of a monopolistic platform at the equilibrium point. Their framework implicitly assumes that for each prices set by the platform, the equilibrium number of users on each side will be unique. However,...

International grain prices experienced a sharp increase during the 2020/2021 marketing season, most likely due to the unprecedented increase of imported grains by China. What would be the possible impact on international grain markets if China remains a strong grain importer? The scenario...

This paper provides the first empirical attempt of linking firms' profits and investment in R&D revisiting Knight's (1921) distinction between uncertainty and risk. Along with the risky profit-maximizing scenario, identifying a second, off-setting, unpredictable bias that leads to heterogeneous...

Climate change affects the mean and variability of weather conditions and the frequency of extreme events, which to a great extent determines the variability of production and yields. This paper reviews the scientific literature on the impacts of climate change on yield variance and investigates...

Digital transformation is rapidly altering civic space, challenging the ways in which members of the OECD Development Assistance Committee (DAC) and other providers of development co-operation strive to promote an enabling environment for civil society to contribute to sustainable development....

IPTS recently acquired a consumer internet clickstream database containing the full set of annual (2011) clickstream records for about 25.000 internet users in the five largest EU economies (UK, Germany, France, Italy and Spain). It contains time spend on each webpage and socio-economic...

We study a market with entrepreneurial and workers entry where both entrepreneurs' abilities and workers' qualities are private information. We develop an Agent-Based Computable model to mimic the mechanisms described in a previous analytical model (Boadway and Sato 2011). Then, we introduce the...