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Retirement incentives, individual heterogeneity and labour transitions of employed and unemployed workers

García-Pérez, J. Ignacio; Jiménez-Martín, Sergi; … - Department of Economics and Business, Universitat … - 2010

Spain). Second, by considering the influence of unobserved heterogeneity in the estimation of the effect of our (carefully … the incentives, however, is greatly affected by the existence of unobserved heterogeneity among workers. Its omission …-in-difference approach to measure the behavioural reaction to this change, finding a large overestimation when unobserved heterogeneity is …

Persistent link: https://www.econbiz.de/10008683242

Time Preference and the Distributions of Wealth and Income

Suen, Richard M. H. - Volkswirtschaftliche Fakultät, … - 2010

This paper presents a dynamic competitive equilibrium model in which heterogeneity in time preferences alone can …

Persistent link: https://www.econbiz.de/10008684875

The Insider-Outsider Model Reexamined

Billand, Pascal; Bravard, Christophe; Sarangi, Sudipta - In: Games 1 (2010) 4, pp. 422-437

In this note we introduce different levels of decay in the Goyal, Galeotti and Kamphorst (GGK) insider-outsider model of network formation. First, we deal with situations where the amount of decay is sufficiently low to avoid superfluous connections in strict Nash networks and we examine the...

Persistent link: https://www.econbiz.de/10008685286

An economic model of contagion in interbank lending markets

Ladley, Dan - Department of Economics, Leicester University - 2010

This paper considers the stability of a financial system in which heterogenous banks interact through a lending market. We analyse a discrete time model in which households and banks are located on a circular city. Households present banks with risky investment opportunities, which banks fund...

Persistent link: https://www.econbiz.de/10008690906

Noise traders or Fundamentalists? A Wavelet approach

Benhmad, François - In: Economics Bulletin 31 (2011) 1, pp. 782-791

According to market heterogeneity hypothesis, financial markets are characterized by the presence of heterogeneity of …

Persistent link: https://www.econbiz.de/10008861880

On the performance of the representative agent during out-of-equilibrium dynamics

Babutsidze, Zakaria - In: Economics Bulletin 31 (2011) 1, pp. 874-882

This note contributes to the discussion about the representative agent's ability to characterize the collection of agents. We perform two exercises in context of a fairly general environment and show that even if the representative agent is powerful enough to describe the society in equilibrium,...

Persistent link: https://www.econbiz.de/10008868010

Heterogeneous Productivity in Voluntary Public Good Provision: An Experimental Analysis

Fellner, Gerlinde; Iida, Yoshio; Kröger, Sabine; Seki, … - Institute for the Study of Labor (IZA) - 2011

the heterogeneity to identify the applied contribution norm. If agents are aware of the heterogeneity, contributions … aware of the heterogeneity but contributions cannot be linked to types. Our results underline the importance of the …

Persistent link: https://www.econbiz.de/10008868135

Optimism, pessimism, and the gains from trade.

Peltrault, Frédéric; Blanchard, Michel - Université Paris-Dauphine

This paper examines the debate over the gains from trade when international differences in the risk perception of heterogeneous managers provide the basis for trade: the relatively optimistic country exports the risky commodity whereas the relatively pessimistic country exports the certain...

Persistent link: https://www.econbiz.de/10008871987

Sequential Estimation of Dynamic Programming Models with Unobserved Heterogeneity

Kasahara, Hiroyuki; Shimotsu, Katsumi - Graduate School of Economics, Hitotsubashi University - 2011

estimate models with unobserved heterogeneity. We analyze the convergence property of our sequential algorithm and derive the …

Persistent link: https://www.econbiz.de/10008873245

Estimating Behavioural Heterogeneity Under Regime Switching

Chiarella, Carl; He, Xue-Zhong; Huang, Weihong; Zheng, … - Finance Discipline Group, Business School - 2011

bust periods in the US stock market. In addition, we find evidence of time-varying behavioural heterogeneity within …

Persistent link: https://www.econbiz.de/10009018967