heterogeneity within the euro area. We show that the main source is the asymmetry of shocks affecting the economies and that the … heterogeneity of behaviors does not seem to be of empirical relevance for the euro area. …

policy becomes binding. Finally, the heterogeneity of policy effects across economies is considerable, thus allowing … heterogeneity is more appropriate for estimating policy effects …

In this preliminary version we consider different types of ex-ante heterogeneity (production cost, preferences, market … access, etc.) in a Lagos-Wright (2003) framework. Such heterogeneity generates equilibrium inequality in nominal wealth, or … money holdings. We have two basic objectives. First, we want to understand under what types of heterogeneity a simple …

We construct a monetary economy with heterogeneity in discounting and consumption risk. Agents can insure against this …

linguistic heterogeneity has an impact on technology transfer from the most developed countries. The major findings are: (1) the … countries. (2) Linguistic heterogeneity has a detrimental effect on technology transfer for the developed countries but not for … comprehension of team strategy among members, which is hampered by linguistic heterogeneity, in improving team performance, depends …