This paper provides an insight into the level of economic and monetary integration in Europe by analysing the degree of growth cycle synchronisation between seven European countries over the past thirty years. Two univariate trend-cycle decomposition methodologies, the Beveridge–Nelson (BN)...

In this paper we investigate the approximations for the distribution function of a sum S of lognormal random variables. These approximations are obtained by considering the conditional expectation E[SΛ] of S with respect to a conditioning random variable Λ.The choice of Λ is crucial in order...

We theoretically and experimentally examine the impact of pay transparency policies and payment schemes on individuals’ effort decisions and their performance. By considering the “no information” policy as a benchmark that only informs each agent of his own performance and pay, we examine...

Biofuel production is being promoted through various policies such as mandates and tax credits. This paper uses a dynamic, spatial, multi-market equilibrium model, Biofuel and Environmental Policy Analysis Model (BEPAM), to estimate the effects of these policies on cropland allocation, food and...

Biofuel production is being promoted through various policies such as mandates and tax credits. This paper uses a dynamic, spatially explicit, multi-market equilibrium model, Biofuel and Environmental Policy Analysis Model (BEPAM), to estimate the effects of these policies on allocation of land...

This paper is the first to use the WeChat platform, one of the largest social networks, to conduct an online experiment of artificial investment games. We investigate how people's forecasts about the financial market and investment decisions are shaped by whether they can observe others'...

Using data of the largest online job board in China, Zhaopin.com, we examine the impacts of the lockdown policy on the Chinese labor market demand during the coronavirus disease (COVID-19) pandemic. The analyses reveal that the lockdown policy, which was implemented in Wuhan on January 23, 2020,...

CEO contractual protection, in forms of CEO employment agreements and CEO severance pay agreements, is prevalent among S&P 1500 firms. While prior research has examined the impact of these agreements on corporate decisions from shareholders’ perspective, there is little research on the impact...

Mean-field games (MFGs) are developed to model the decision-making processes of a large number of interacting agents in multi-agent systems. This paper studies mean-field games on graphs (𝒢-MFGs). The equilibria of 𝒢-MFGs, namely, mean-field equilibria (MFE), are challenging to solve for...