Title:Error Cascades in Observational Learning: An Experiment on the Chinos Game
Author(s):FERI, Francesco; MELÉNDEZ-JIMÉNEZ, Miguel A.; PONTI, Giovanni; VEGA-REDONDO, FernandoDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The paper reports an experimental study based on a variant of the popular
Chinos game, which is used as a simple but paradigmatic instance of
observational learning. There are three players, arranged in sequence, each
of ...
Title:Escaping Low-Wage Jobs: Wealth, Low Wages, and the Black-White Entrapment Gap
Author(s):MORILLAS, Juan RafaelDate:2007Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:The aim of this paper is to analyze individuals’ opportunities to escape low-wage jobs. More specifically, relying on an assets or wealth (as a distinct variable from income) theoretical framework, I provide an explanation ...
Title:An Estimated DSGE Model of a Small Open Economy within the Monetary Union: Forecasting and structural analysis
Author(s):MARCELLINO, Massimiliano; RYCHALOVSKA, YuliyaDate:2012Type of Publication:Working PaperSeries/Report no.:EUI RSCASAbstract:In this paper we lay out a two-region DSGE model of an open economy within the European Monetary Union. The model, which is built in the New Keynesian tradition, contains real and nominal rigidities such as habit formation ...
Title:Estimating Dynamic Contracts: Risk Sharing in Village Economies
Author(s):LACZÓ, SaroltaDate:2010Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:This paper studies the role of preference and income risk heterogeneity when risk sharing is partial due to limited commitment. I estimate the dynamic contract determining self-enforcing insurance transfers in a structural ...
Title:Estimation Methods Comparison of SVAR Model with the Mixture of Two Normal Distributions – Monte Carlo Analysis
Author(s):MACIEJOWSKA, KatarzynaDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper addresses the issue of obtaining maximum likelihood estimates of parameters for structural VAR models with a mixture of distributions. Hence the problem does not have a closed form solution, numerical optimization ...