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Foucart, Renaud - Department of Economics, Oxford University - 2013

Consumption in the time of Internet is characterized by extremely low search costs, leading to increased product diversity (the long tail) and large mainstream products (superstars). In this paper, I show how the mainstream taste can be catered by a niche product, while minority tastes can be...

Persistent link: https://www.econbiz.de/10011004455

International Monetary Policy Coordination and Credibility Under Incomplete Information.

Krolzig, H.M. - Department of Economics, Oxford University - 1997

Recent theories converge in the idea that international monetary policy cooperation can be counter-productive. This paper reconsiders the role of policy cooperation and credibility in a two-country model with incomplete information about the type of the coordination mechanism. In the perfect...

Persistent link: https://www.econbiz.de/10005047869

Implications of Skill-Biased Technological Change: International Evidence

Berman, E.; Bound, J.; Machin, S. - Department of Economics, Oxford University - 1997

Demand for less skilled workers decreased dramatically in the US and in other developed countries over the past two decades. We argue that pervasive skill biased technological change rather than increased trade with the developing world is the principal culprit. The pervasiveness of this...

Persistent link: https://www.econbiz.de/10005661253

Technology and Changes in Skill Structure: Evidence from Seven OECD Countries

Machin, S.; Van Reenen, J. - Department of Economics, Oxford University - 1997

Much of the dramatic change in skill and wage structure observed in recent years in the United States is believed to stem from the impact of new technology. This paper compares the changing skill strcuture of wage bills and employment in the United States with six other advanced developed...

Persistent link: https://www.econbiz.de/10005625855

Science, Technology, Innovation and IP in India - New Directions and Prospects

Greenhalgh, Christine - Department of Economics, Oxford University - 2013

diffusion in India. We attempt to record what changes have been made to innovation policy, foreign direct investment policy and … property, innovation and diffusion in emerging countries. It applies this literature to the Indian case. India is a … third section the focus turns to recent science, technology and innovation policy in India. A study of the country …

Persistent link: https://www.econbiz.de/10011004399

The Dynamics of the Informal Economy

Gutierrez-Romero, Roxana - Department of Economics, Oxford University - 2010

This paper analyses the factors that give rise to the existence of the informal economy and how it evolves over time. Using an occupational-choice model the paper shows that at early stages of development, informal and formal markets coexist, but in the long-run the size of the informal...

Persistent link: https://www.econbiz.de/10011004185

Cancellation and uncertainty aversion on limit order books

Large, Jeremy - Department of Economics, Oxford University - 2004

This paper models limit order books where each trader is uncertain of the underlying distribution in the asset`s value to others. If this uncertainty is rapidly resolved, fleeting limit orders are submitted and quickly cancelled. This enhances liquidity supply, but leaves intact established...

Persistent link: https://www.econbiz.de/10010661408

Ambiguity Aversion and the Absence of Indexed Debt

Mukerji, Sujoy; Tallon, Jean-Marc - Department of Economics, Oxford University - 2000

If agent`s (subjective) beliefs are ambiguous then the beliefs may not be represented by a unique probability distribution in the standard Bayesian fashion but instead by a set of probabilities. Roughly put, an ambiguity averse decision maker evaluates an act by the minimum expected value that...

Persistent link: https://www.econbiz.de/10010605029

The Qualities of Leadership: Direction, Communication, and Obfuscation

Myatt, David P.; Dewan, Torun - Department of Economics, Oxford University - 2007

Party activists wish to (i) advocate the best policy and yet (ii) unify behind a common party line. An activist`s understanding of his environment is based on the speeches of party leaders. A leader`s influence, measured by the weight placed on her speech, increases with her judgement on policy...

Persistent link: https://www.econbiz.de/10005047752

Ambiguity Aversion and the Absence of Indexed Debt.

Mukerji, S.; Tallon, J.-M. - Department of Economics, Oxford University - 2000

Inspite of wide and long-standing support among economists for indexation of loan contracts there has been relatively little use of indexation, except in situations of extremely high inflation. The object of this paper is to provide a (theoretical) explanation for this puzzling phenomenon based...

Persistent link: https://www.econbiz.de/10005047922