This paper develops a method for assessing food security information system with respect to its structure, connectedness and performance. The paper illustrates how to set up an operational food security information system, identify its leverage components and pathways of information flow, and...

We introduce a form of boundedly-rational expectations into a standard asset-pricing model of the exchange rate, where cross-country interest rate differentials are governed by Taylor-type rules. We postulate that agents augment a lagged-information random walk forecast with a term that relates...

Despite a robust college premium, college attendance rates in the United States have remained stagnant and exhibit a substantial socioeconomic gradient. We focus on information gaps— specifically, incomplete information about college benefits and costs—as a potential explanation for these...

Interstate migration in the United States has declined by 50 percent since the mid-1980s. This paper studies the role of the aging population in this long-run decline. We argue that demographic changes trigger a general equilibrium effect in the labor market, which affects the migration rate of...

In games with strategic complementarities, public information about the state of the world has a larger impact on equilibrium actions than private information of the same precision, because the former is more informative about the likely behavior of others. This may lead to welfare-reducing...

This CPB Discussion Paper documents and interprets the significance of communication for individual wages within cities with a diversified or specialised industrial structure. Diversified cities house firms which are optimizing their production process by learning from a wide variety of firms....

Recent claims, particularly in Paul Krugman’s column and blog, on the superiority of the Hicks-Modigliani version of Keynesian economics calls for a re-thinking of the issues raised in the early controversies over what Joan Robinson called ”bastard Keynesianism”. ”Good, old-fashioned,...

The importance of knowledge management and its contribution to organizational performance and innovativeness has been the subject of many studies and is increasingly gaining recognition worldwide. Our study analyses the impact of knowledge management on perceived organizational performance and...

Peer performance can influence the adoption of financial innovations and investment styles. We present evidence of this type of social influence: recent stock returns that local peers experience affect an individual's stock market entry decision, particularly in areas with better opportunities...

This paper presents a model in which the contagion of a liquidity crisis between two nonfinancial institutions occurs because of learning activity within a common creditor pool. After creditors observe what occurs in a rollover game for a firm, they conjecture one another's “type” or...