We develop a theoretical labour market model with two generations of workers, endogenous social networks of parents and binary schooling choices of children. Since the market skill premium is unobservable, families rely on noisy wage information obtained from their social contacts giving rise to...

This paper explores the impact of technological change on industry concentration and the underlying firm dynamics. In the agent-based model EURACE@Unibi I implement a paradigm shift in the technological frontier - a shift from a slow to a fast growing regime. The analysis shows that the...

In this paper our objective is to analyze sustainable debt policy rules and economic growth using a model of endogenous economic growth theory. For the government it is possible to run into debt, but, the primary surpulus is a positive linear function of the debt-to-GDP ratio which guarantees...

This paper investigates the impact of Chinese import competition on firms' performance, and whether firms employing immigrant workers face this shock differently. Using a sample of French manufacturing firms from 1994 to 2015 and an IV-2SLS strategy relying on a shift-share instrument, we find...

This paper investigates the effects of total factor productivity and energy price shocks in a real business cycle (RBC) model with heterogeneous agents. It extends standard RBC models by including the distinction between durable goods and non-durable goods but also including energy in production...

In this note we consider an economic union consisting of sovereign national states. An asymmetric shock hits the union and as a result it decides to set up a fund in order to compensate the countries in the union. We show how sacrifice theory can be used to determine the compensation payments...

We illustrate a new source of comparative advantage that is generated by countries' different ability to adjust to technological change. Our model introduces substitution of workers in codifiable (routine) tasks with more efficient machines, a process extensively documented in the labor...

In this study we compare the evolution of labour productivity across the majority of EU member countries over the span of 1995-2016. Productivity growth combined with cross-sectoral employment shifts from manufacturing industries towards the service sectors can be observed in all countries. A...

This paper analyzes the implications of different designs of policies, which aim to contain the diffusion of the SARS-CoV-2 virus, with respect to induced economic loss and virus mortality. An agent-based simulation model is implemented and calibrated with German data, which combines the...

Research on sports betting often identifies biased evaluation by bookmakers and corresponding opportunities for profitable strategies to bettors. Such studies repeatedly provide evidence for the existence of biased betting odds for different periods and leagues, leaving the impression that...