Title:Decision Makers Facing Uncertainty: Theory Versus Evidence
Author(s):GIORDANI, Paolo E.; SCHLAG, Karl H.; ZWART, SanneDate:2010Type of Publication:ArticleAbstract:This paper aims at assessing cultural differences in uncertainty attitude across Europe. We select questions from the European Values Survey (EVS) capturing salient features of uncertain scenarios (safe versus uncertain, ...
Title:Deep habits
Author(s):RAVN, Morten O.; SCHMITT-GROHE, Stephanie; URIBE, MartinDate:2006Type of Publication:ArticleAbstract:This paper generalizes the standard habit-formation model to an environment in which agents form habits over individual varieties of goods as opposed to over a composite consumption good. We refer to this preference ...
Title:Deposit Insurance and Risk Taking
Author(s):ALLEN, Franklin; CARLETTI, Elena; LEONELLO, AgneseDate:2011Type of Publication:ArticleAbstract:We review the theory of deposit insurance, highlighting the underlying assumptions that were not satisfied during the recent financial crisis and that may have led to serious policy mistakes. In theoretical models, deposit ...
Title:Disaggregated Wage Curves in the United States: Evidence From Panel Data of Young Workers
Author(s):TURUNEN, JarkkoDate:1998Type of Publication:ArticleAbstract:The paper presents wage curve results disaggregated over time, by individual characteristics, occupations, industries and regions in the United States, using a panel data set of young workers. The results suggest that ...
Title:Disequilibrium Dynamics With Naive Agents in the Overlapping Generations Model With Money
Author(s):SACCO, Pier LuigiDate:1993Type of Publication:ArticleAbstract:This paper studies the disequilibrium dynamics of the overlapping generations model with money under the assumption that agents are not aware of the strategic opportunities left open by nonequilibrium trade. The standard ...
Title:Do Conditional Benefits Reduce Equilibrium Unemployment?
Author(s):VAN DER PLOEG, FrederickDate:2006Type of Publication:ArticleAbstract:Although unconditional unemployment benefits destroy jobs in competitive and noncompetitive labor markets, conditional benefits can spur job growth in noncompetitive labor markets. Unconditional benefits reduce the penalty ...
Title:Do Sunspots Matter under Complete Ignorance?
Author(s):GIORDANI, Paolo; COZZI, GuidoDate:2006Type of Publication:ArticleAbstract:In a two-period, sunspot, pure-exchange economy we analyse the case in which agents do not assign subjective probabilistic beliefs to the ‘sunspot activity’. Two generations, each of which is made up of identical agents, ...
Title:Does Growth Vary Over the Business Cycle? Some Evidence From the G7 Countries
Author(s):KONTOLEMIS, Zenon G.Date:1997Type of Publication:ArticleAbstract:In this paper we analyse the dynamics of business cycles in the G7 countries. Our aim is to answer the question of whether growth varies (in an absolute sense) over the business cycle, and hence to examine whether the ...
Title:Does Longevity Cause Growth? A Theoretical Critique
Author(s):HAZAN, Moshe; ZOABI, HosnyDate:2006Type of Publication:ArticleAbstract:This paper challenges conventional wisdom by arguing that greater longevity may have contributed less than previously thought for the significant accumulation of human capital during the transition from stagnation to growth. ...
Title:Does Noise Undermine the First-Mover Advantage? An Evolutionary Analysis of Bagwell's Example
Author(s):SCHLAG, Karl H.; OECHSSLER, JÖRGDate:2000Type of Publication:ArticleAbstract:Bagwell (1995) considered a simple Stackelberg-type game in which one player benefits from the other's ability to observe his move, assuming they play the unique subgame perfect equilibrium. He showed that introducing noise ...
Title:Does Trade Foster Institutions? An Empirical Assessment
Author(s):NICOLINI, Marcella; PACCAGNINI, AlessiaDate:2011Type of Publication:ArticleAbstract:The relationship between trade and institutions has been extensively debated by trade economists and political scientists. The aim of the present paper is to provide some empirical evidence on the causal relationship between ...
Title:Dynamics of Performance-Measurement Systems
Author(s):COURTY, Pascal; MARSCHKE, GeraldDate:2003Type of Publication:ArticleAbstract:We review the principal–agent multi-tasking literature and discuss the relevance of this literature to the implementation of performance measurement in public organizations. Arguably, the most important lesson from the ...