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Asset price dynamics with heterogeneous beliefs and local network interactions

Panchenko, Valentyn; Gerasymchuk, Sergiy; Pavlov, Oleg V. - In: Journal of Economic Dynamics and Control 37 (2013) 12, pp. 2623-2642

network topologies influence asset price dynamics in terms of the regions of stability, amplitudes of fluctuations and …

Persistent link: https://www.econbiz.de/10010871048

Firm-network characteristics and economic robustness to natural disasters

Henriet, Fanny; Hallegatte, Stéphane; Tabourier, Lionel - In: Journal of Economic Dynamics and Control 36 (2012) 1, pp. 150-167

This article proposes a theoretical framework to investigate economic robustness to exogenous shocks such as natural disasters. It is based on a dynamic model that represents a regional economy as a network of production units through the disaggregation of sector-scale input–output tables....

Persistent link: https://www.econbiz.de/10011051874

Systemic risk in banking networks: Advantages of “tiered” banking systems

Teteryatnikova, Mariya - In: Journal of Economic Dynamics and Control 47 (2014) C, pp. 186-210

This paper studies the risk and potential impact of system-wide defaults in a tiered banking network, where a small group of head institutions has many credit linkages with other banks, while the majority of banks have only a few links. A network is random and displays a given distribution of...

Persistent link: https://www.econbiz.de/10011051921

Heterogeneous beliefs in over-the-counter markets

De Kamps, Marc; Ladley, Daniel; Simaitis, Aistis - In: Journal of Economic Dynamics and Control 41 (2014) C, pp. 50-68

The behavior and stability of over-the-counter markets is of central concern to regulators. Little is known, however … populated by boundedly rational heterogeneous traders in which the structure is represented by a network. Stability is found to … presence of hubs, such as those found in scale free networks increases stability and decreases volatility whilst small …

Persistent link: https://www.econbiz.de/10010779386

Stability of the World Trade Web over time – An extinction analysis

Foti, Nicholas J.; Pauls, Scott; Rockmore, Daniel N. - In: Journal of Economic Dynamics and Control 37 (2013) 9, pp. 1889-1910

can play an important role in the evaluation of the stability of economic systems. …

Persistent link: https://www.econbiz.de/10011051898

Spatial externalities and agglomeration in a competitive industry

Brock, William A.; Xepapadeas, Anastasios; … - In: Journal of Economic Dynamics and Control 42 (2014) C, pp. 143-174

We introduce spatial spillovers as an externality in the production function of competitive firms operating within a finite spatial domain under adjustment costs. Spillovers may attenuate with distance and the overall externality could contain positive and negative components with the overall...

Persistent link: https://www.econbiz.de/10010776909

Risk shocks and housing supply: A quantitative analysis

Dorofeenko, Victor; Lee, Gabriel S.; Salyer, Kevin D. - In: Journal of Economic Dynamics and Control 45 (2014) C, pp. 194-219

This paper analyzes the role of stochastic uncertainty in a multi-sector housing model with financial frictions. We include time varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production and provide estimates of the time-series properties of risk shocks by...

Persistent link: https://www.econbiz.de/10010906776

Opinion dynamics and wisdom under conformity

Buechel, Berno; Hellmann, Tim; Klößner, Stefan - In: Journal of Economic Dynamics and Control 52 (2015) C, pp. 240-257

We study a dynamic model of opinion formation in social networks. In our model, boundedly rational agents update opinions by averaging over their neighbors’ expressed opinions, but may misrepresent their own opinion by conforming or counter-conforming with their neighbors. We show that an...

Persistent link: https://www.econbiz.de/10011209200

Emergence of a core-periphery structure in a simple dynamic model of the interbank market

Lux, Thomas - In: Journal of Economic Dynamics and Control 52 (2015) C, pp. 11-11

This paper studies a simple dynamic model of interbank credit relationships. Starting from a given balance sheet structure of a banking system with a realistic distribution of bank sizes, the necessity of establishing interbank credit connections emerges from idiosyncratic liquidity shocks....

Persistent link: https://www.econbiz.de/10011209214

Self-organization of knowledge economies

Lafond, François - In: Journal of Economic Dynamics and Control 52 (2015) C, pp. 150-165

Suppose that homogeneous agents fully consume their time to invent new ideas and learn ideas from their friends. If the social network is complete and agents pick friends and ideas of friends uniformly at random, the distribution of ideas׳ popularity is an extension of the Yule–Simon...

Persistent link: https://www.econbiz.de/10011209229