We utilize household production theory to address the problem of micro-level demand estimation across complementary goods. According to this theory, consumers buy inputs and combine them to produce final goods from which they derive utility. We use this idea to build a structural model of demand...

While single-brand reward programs encourage customers to remain loyal to that one brand, coalition programs encourage customers to be “promiscuous” by offering points redeemable across partner stores. Despite the benefits of this “open relationship” with customers, store managers face...

This paper presents the European Commission's Global Multi-country model (the GM model). The GM model is an estimated multi-country DSGE model that can be used for spillover analysis, forecasting and medium term projections. Its development is jointly performed by the Joint Research Centre and...

We examine a public goods game in 83 communities in northern Liberia. Women contributed substantially more to a small-scale development project when playing with other women than in mixed-gender groups, where they contributed at about the same levels as men. We try to explain this composition...

Hours per capita measures based on the private sector as usually included in the set of observables for estimating macroeconomic models are affected by low-frequent demographic trends and sectoral shifts that cannot be explained by standard models. Further, model-based output gap estimates are...

This paper estimates a medium-scale open economy DSGE model for Germany and therest of the Euro Area (REA). The parameter estimates indicate that there is a modestdegree of structural heterogeneity between Germany and the rest of the Euro Area. Inparticular, (i) the private sector in Germany...