Title:On the Evolutionary Selection of Sets of Nash Equilibria
Author(s):SCHLAG, Karl H.; BALKENBORG, DieterDate:2006Type of Publication:ArticleAbstract:It is well established for evolutionary dynamics in asymmetric games that a pure strategy combination is asymptotically stable if and only if it is a strict Nash equilibrium. We use an extension of the notion of a strict ...
Title:On the Evolutionary Selection of Sets of Nash Equilibria
Author(s):BALKENBORG, Dieter; SCHLAG, Karl H.Date:2007Type of Publication:ArticleAbstract:It is well established for evolutionary dynamics in asymmetric games that a pure strategy combination is asymptotically stable if and only if it is a strict Nash equilibrium. We use an extension of the notion of a strict ...
Title:On the Existence of A Beliefs Social Equilibrium
Author(s):FERNANDEZ DE CORDOBA MARTOS, GonzaloDate:1997Type of Publication:ArticleAbstract:This paper presents a result on the existence of a beliefs social equilibrium. This is a preliminary step to find a definition of equilibrium in economics that explicitly takes account of beliefs. (C) 1997 Elsevier Science S.A.
Title:On the nature of competition in alternative electoral systems
Author(s):IARYCZOWER, Matias; MATTOZZI, AndreaDate:2013Type of Publication:ArticleAbstract:We link the intensity of campaign competition in different electoral systems with the number of candidates running for public office and their ideological differentiation. We show that proportional elections have more ...
Title:On the predictability of time-varying VAR and DSGE models
Author(s):BEKIROS, Stelios D.; PACCAGNINI, AlessiaDate:2013Type of Publication:ArticleAbstract:Over the last few years, there has been a growing interest in DSGE modelling for predicting macroeconomic fluctuations and conducting quantitative policy analysis. Hybrid DSGE models have become popular for dealing with ...
Title:Openness and the Case for Flexible Exchange Rates
Author(s):CORSETTI, GiancarloDate:2006Type of Publication:ArticleAbstract:Models of stabilization in open economy traditionally emphasize the role of exchange rates as a substitute for nominal price flexibility in fostering relative price adjustment. This view has been recently criticized on the ...
Title:Optimal-Control of Input Output Systems Via Demand Management
Author(s):SACCO, Pier LuigiDate:1992Type of Publication:ArticleAbstract:This paper studies the optimal control of an input-output model with two sectors where the policy maker controls the level of final demand. It is found that the stationary point is hyperbolic and has a stable manifold of ...
Title:An Overview of the Crisis: Causes, Consequences and Solutions
Author(s):ALLEN, Franklin; CARLETTI, ElenaDate:2009Type of Publication:ArticleAbstract:What caused the crisis? Initially many thought that it was due to incentive problems in the U.S. mortgage industry. However, after the large economic meltdown following Lehman Brothers' bankruptcy in September 2008, it ...
Title:Pareto Improving Financial Innovation in Incomplete Markets
Author(s):CASS, David; CITANNA, AlessandroDate:1998Type of Publication:ArticleAbstract:In this paper we develop a differential technique for investigating the welfare effects of financial innovation in incomplete markets. Utilizing this technique, and after parametrizing the standard competitive, pure-exchange ...
Title:Path Forecast Evaluation
Author(s):JORDÀ, Òscar; MARCELLINO, MassimilianoDate:2010Type of Publication:ArticleAbstract:A path forecast refers to the sequence of forecasts 1 to H periods into the future. A summary of the range of possible paths the predicted variable may follow for a given confidence level requires construction of simultaneous ...