This paper presents a model of coordination failures based on market power and local oligopoly. The economy exhibits a multiplicity of Pareto-ranked equilibria. The introduction of uncertainty generates an endogenous equilibrium selection process, due to a strategic use of information by firms....

The economic boom of the USA in the 1990s was remarkable in its duration, the sustained rise in equipment investment, the reduced volatility of productivity growth, and continued uncertainty about the trend growth rate. In this paper we link these phenomena using an extension of the classic...

Total debt in the People's Republic of China has increased significantly in recent years, mostly on account of nonfinancial corporate debt. Earning and the financial performance of corporate firms have weakened, and so has the asset quality of the financial sector. This paper assesses the...

This paper compares the net fiscal position (NFP) of immigrants versus natives using data from the European Survey on Living Conditions (EU-SILC) for the period 2007-2015. By employing a quantile regression approach, we find that European and non-European migrants have a different fiscal...

This paper applies the Economic Fitness and Complexity approach to analyse the underlying factors behind the wide and persistent economic disparities across the Italian regional units. Measures of regional fitness are obtained from their revealed comparative advantage and from their patent...

This paper presents a model of co-ordination failures based on market power and local oligopoly. The economy exhibits a multiplicity of Pareto-ranked equilibria. The introduction of uncertainty generates an endogenous equilibrium selection process, due to a strategic use of information by firms....

The last two decades have seen increased divergence among the states of the Indian Federation in terms of their economic performance. This paper uses spatial econometric methods to examine how the regional pattern of growth has been influenced by the economic reforms implemented since the early...

Since the early 1990s, India has embarked on economic reforms that have progressively opened up the country to international trade. This paper analyzes the effects of reform on India’s trading structure from 1990 to 2006. It computes comparative advantage indicators on the basis of...

This paper develops a novel approach to the analysis of vulnerability in the context of food security. The proposed methodology incorporates recent developments in the analysis of risk management. It can be applied to estimate the probability that a household or a community might fall below a...