Showing 51 - 60 of 514
We provide explicit formulas for the nucleolus of an arbitrary assignment game with two buyers and two sellers. Five different cases are analyzed depending on the entries of the assignment matrix. We extend the results to the case of 2 m or m 2 assignment games.
Persistent link: https://www.econbiz.de/10010817236
A multi-sided Bohm-Bawerk assignment game (Tejada, to appear) is a model for a multilateral market with a finite number of perfectly complementary indivisible com- modities owned by different sellers, and inflexible demand and support functions. We show that for each such market game there is a...
Persistent link: https://www.econbiz.de/10010817237
In this paper we analyze the aggregate volatility of a stylized economy where agents are networked. If strategic relations connect agents,actions, idiosyncratic shocks can generate nontrivial aggregate fluctuations. We show that the aggregate volatility depends on the network structure of the...
Persistent link: https://www.econbiz.de/10010817238
This methodological study provides estimates of Portuguese regional GDP per capita between 1890 and 1980. These estimates were obtained either by following the Geary and Stark (2002) method for industry or directly from regional production data or proxies thereof where available.
Persistent link: https://www.econbiz.de/10010817239
Despite extensive research, there is still controversy on the effects of income inequality on economic growth. The literature proposes several transmission channels through which these effects may take place, and even the existence of two different forms of inequality. However, empirical studies...
Persistent link: https://www.econbiz.de/10010732217
This paper contributes to the literature by applying the Grangercausality approach and endogenous breakpoint test to offer an operational definition of contagion to examine European Economic and Monetary Union (EMU) countries public debt behaviour. A database of yields on 10-year government...
Persistent link: https://www.econbiz.de/10010738435
There is an ongoing debate on which are the determinants of CAP reform. The economic environment has not been contemplated as a directdeterminant of CAP reform but its proxy, the budget, has not only been looked at as such but underlined as a key cause of CAP reform. This paper argues, however,...
Persistent link: https://www.econbiz.de/10010797789
We consider one-seller assignment markets with multi-unit demands and prove that the associated game is buyers-submodular. Therefore the core is non-empty and it has a lattice structure which contains the allocation where every buyer receives his marginal contribution. We prove that in this kind...
Persistent link: https://www.econbiz.de/10010797791
We empirically investigate whether the transmission of the recent crisis in euro area sovereign debt markets was due to fundamentals-based or pure contagion. To do so, we examine the behaviour of EMU sovereign bond yield spreads with respect to the German bund for a sample of both central and...
Persistent link: https://www.econbiz.de/10010764828