Title:Risk-sharing and contagion in networks
Author(s):CABRALES, Antonio; GOTTARDI, Piero; VEGA-REDONDO, FernandoDate:2013Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The aim of this paper is to investigate how the capacity of an economic system to absorb shocks depends on the specific pattern of interconnections established among financial firms. The key trade-off at work is between ...
Title:Risk-Sharing and Retrading in Incomplete Markets
Author(s):GOTTARDI, Piero; RAHI, RohitDate:2012Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:At a competitive equilibrium of an incomplete-markets economy agents’ marginal valuations for the tradable assets are equalized ex-ante. We characterize the finest partition of the state space conditional on which this ...
Title:Robust Estimation: An Example
Author(s):HINLOOPEN, Jeroen; WAGENVOORT, Rien J.L.M.Date:1995Type of Publication:Working PaperSeries/Report no.:EUI ECO
Title:The Role of Curvature in the Transformation Frontier for Measuring Technology Shocks
Author(s):MENNUNI, AlessandroDate:2010-10-28Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:In the usual version of the neoclassical growth model used to identify neutral (N-Shock) and investment shocks (I-Shock), a linear transformation frontier between consumption and investment goods is assumed. This paper ...
Title:The role of europarties in framing the European Union Foreign and Security Policy
Author(s):CALOSSI, Enrico; COTICCHIA, FabrizioDate:2013Type of Publication:Working PaperSeries/Report no.:EUI RSCASAbstract:The implementation of the Lisbon Treaty assessed new prerogatives to the European Parliament (EP) on the Common Foreign and Security Policy (CFSP) and on the Common Security and Defence Policy (CSDP). This has increased ...
Title:The Role of Expectations in Sudden Stops
Author(s):MERTENS, KarelDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper presents a flexible-price small open economy model with a “peso problem”
in productivity states. Agents rationally adjust their beliefs about future productivity
growth after the arrival of news. A downward ...
Title:The Role of Institutions in Cosmopolitan Justice
Author(s):MIKLOS, AndrasDate:2007Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:This paper focuses on a distinction between two kinds of theories about the role of institutions in cosmopolitan justice. Some philosophers claim that principles of egalitarian justice apply to institutional schemes only, ...