Showing 1 - 10 of 46
Housing markets are subject to many interrelated sources of instability on both a microeconomic and macroeconomic scale. Housing decisions of different individuals will be interdependent, generating non-linearities, discontinuities and feedback effects. This paper focuses in on some behavioural...
Persistent link: https://www.econbiz.de/10009024890
This paper studies a model of equilibrium unemployment in which the ecacy of scal policy increases markedly in times of crises. A sudden rise in pessimism leads households to save rather than to spend, causing a fall in output and rising unemployment But as a persistent rise in unemployment...
Persistent link: https://www.econbiz.de/10010761907
This paper argues that the effectiveness of fiscal policy may increase markedly during periods of low nominal interest rates and high, persistent, unemployment. An increase in government spending boosts economic activity and reduces the unemployment rate both in the present and in the future. As...
Persistent link: https://www.econbiz.de/10009651256
information about past deals through their social network. There is a unique equilibrium outcome which depends crucially on the … predictions are tested in a lab experiment through 4 treatments that vary the network that groups of 6 subjects are assigned to … if they are assigned to a network that is dense and/or has low variability in number of connections across members. An …
Persistent link: https://www.econbiz.de/10010890020
Unemployment and earnings inequality have moved closely together in South Africa in recent years, suggesting that there may not be a trade-off between them as the literature generally suggests. This article explores the relationship between unemployment and earnings inequality in South Africa,...
Persistent link: https://www.econbiz.de/10005489355
We study the role played by geographical distance in the peering decisions between Internet Service Providers. Firstly, we assess whether or not the Internet industry shows clustering in peering; we then concentrate on the dynamics of the agglomeration process by studying the effects of...
Persistent link: https://www.econbiz.de/10005489326
In most network asset procurement exercises, network configurations are predefined by the auctioneers. Bidders can … neither propose different network configurations nor can they submit bids on a group of network links. We believe the market … different network configurations and where bidding for packages is a possibility. We demonstrate why the auction design in this …
Persistent link: https://www.econbiz.de/10010790559
This paper o¤ers a bridge between the theoretical literature on endogenous network formation and the empirical work on … the impact of social networks on economic performance. We provide a theoretical framework of endogenous network formation … that yields testable predictions for the network architectures generated by a particular informal institution common in …
Persistent link: https://www.econbiz.de/10005647353
This paper aims to predict some possible futures for the World Wide Web based on several key network parameters: size … connection speeds are low neither the star nor complete networks are stable, and when connection speeds are high the star network … is usually stable, while the complete network is never stable. For intermediate speed levels much depends upon the other …
Persistent link: https://www.econbiz.de/10005783855
While much of the literature on cross section dependence has focused mainly on estimation of the regression coefficients in the underlying model, estimation and inferences on the magnitude and strength of spill-overs and interactions has been largely ignored. At the same time, such inferences...
Persistent link: https://www.econbiz.de/10008545810