Showing 1 - 10 of 132
-competitive practices, through the integration of a concrete view of "embeddedness" (Granovetter, 1985). We propose the use of game theory …
Persistent link: https://www.econbiz.de/10008793027
aftermath of geo-localized social protests in Africa, we find that trust in monitoring institutions and beliefs in social … coordination strongly evolve after riots, together with trust in leaders. As no signs of social unrest can be recorded before, the … the country's institutions. Our interpretation is the following. Agents lend their taxes to a leader with imperfect …
Persistent link: https://www.econbiz.de/10010933911
in institutions, populations, according to their culture and to their territory, get organized to find solutions to the …
Persistent link: https://www.econbiz.de/10010899482
This paper investigates the relationship between trust and macroeconomic volatility. In a cross section of countries …, we show that higher trust is associated with lower macroeconomic instability. We use the inherited trust of Americans as … an instrumental variable of trust in their origin country to overcome all potential reverse causality concerns. We use …
Persistent link: https://www.econbiz.de/10010738740
This paper documents the co-evolution of social capital, measured as generalized trust, and financial development over … the twentieth century. I use cross generations inherited trust of Americans with foreign ancestors to track trust in their … home country in 1913 and 1990. The paper documents a positive cross-section relationship between trust and financial …
Persistent link: https://www.econbiz.de/10010738967
We build an overlapping generation model to study financial fragility in a two-sector small open economy. Firms are subject to a borrowing constraint and there is a currency mismatch in the balance sheets of the non-tradable sector. As a consequence, at a given point in time, multiple equilibria...
Persistent link: https://www.econbiz.de/10010738789
Advertising competes for scarce consumer attention, so more profitable advertisers send more messages to break through the others' clutter. Multiple equilibria can arise: more messages in aggregate induce more "shouting to be heard", dissipating profit. Equilibria can involve a small range of...
Persistent link: https://www.econbiz.de/10010899933
level of democracy plays an important role while education and economic institutions have no effect. …
Persistent link: https://www.econbiz.de/10010933874
This paper demonstates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational expectations models. The number of equilibria corresponds to the number of ways to select n eigenvectors among a larger set of eigenvectors related to stable eigenvalues. A...
Persistent link: https://www.econbiz.de/10011025992
identifies some efficiency gains associated with narrow banking using an approach based on search theory. It is herein shown that …
Persistent link: https://www.econbiz.de/10010558720