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Title:The allocation of talent : finance versus entrepreneurship Author(s):SHAKHNOV, Kirill
Date:2014Type:Working PaperSeries/Number:EUI ECO; 2014/13Abstract:The rapid growth of the US financial sector has driven policy debate on whether it is socially desirable. I propose a heterogeneous agent model with asymmetric information and matching frictions that produces a tradeoff ...
Date:2014Type:Working PaperSeries/Number:EUI ECO; 2014/13Abstract:The rapid growth of the US financial sector has driven policy debate on whether it is socially desirable. I propose a heterogeneous agent model with asymmetric information and matching frictions that produces a tradeoff ...
Title:Labor share decline and intellectual property products capital Author(s):KOH, Dongya; SANTAEULÀLIA-LLOPIS, Raül; ZHENG, YuDate:2015Type:Working PaperSeries/Number:EUI ECO; 2015/05Abstract:We study the behavior of the US labor share over the past 65 years. We find that intellectual property products (IPP) capital entirely accounts for the observed decline of the US labor share, which otherwise is secularly ...
Date:2015Type:Working PaperSeries/Number:EUI ECO; 2015/05Abstract:We study the behavior of the US labor share over the past 65 years. We find that intellectual property products (IPP) capital entirely accounts for the observed decline of the US labor share, which otherwise is secularly ...
Title:Time-consistent institutional design Author(s):BRENDON, Charles; ELLISON, MartinDate:2014Type:Working PaperSeries/Number:EUI MWP; 2014/21Abstract:We propose a new normative approach to designing institutional commitments in environments that are subject to a time inconsistency problem, à la Kydland and Prescott (1977). This approach captures the idea that institutions ...
; ELLISON, MartinDate:2014Type:Working PaperSeries/Number:EUI MWP; 2014/21Abstract:We propose a new normative approach to designing institutional commitments in environments that are subject to a time inconsistency problem, à la Kydland and Prescott (1977). This approach captures the idea that institutions ...
Title:Sources of borrowing and fiscal multipliers Author(s):PRIFTIS, Romanos; ZIMIC, SreckoDate:2017Type:Working PaperSeries/Number:EUI ECO; 2017/01Abstract:We find that debt-financed government spending multipliers vary considerably depending on the location of the debt holder. In a sample of 59 countries we find that government spending multipliers are larger when government ...
; ZIMIC, SreckoDate:2017Type:Working PaperSeries/Number:EUI ECO; 2017/01Abstract:We find that debt-financed government spending multipliers vary considerably depending on the location of the debt holder. In a sample of 59 countries we find that government spending multipliers are larger when government ...
Title:Targeting interventions in networks Author(s):GALEOTTI, Andrea; GOLUB, Benjamin; GOYAL, SanjeevDate:2018Type:Working PaperSeries/Number:EUI ECO; 2018/01Abstract:Individuals interact strategically with their network neighbors. A planner can shape incentives in pursuit of an aggregate goal, such as maximizing welfare or minimizing volatility. We analyze a variety of targeting problems ...
; GOLUB, Benjamin; GOYAL, SanjeevDate:2018Type:Working PaperSeries/Number:EUI ECO; 2018/01Abstract:Individuals interact strategically with their network neighbors. A planner can shape incentives in pursuit of an aggregate goal, such as maximizing welfare or minimizing volatility. We analyze a variety of targeting problems ...
Title:Asymmetric macro-financial spillovers Author(s):BLUWSTEIN, KristinaDate:2017Type:Working PaperSeries/Number:Sveriges Riksbank Working Paper Series; 2017/337Abstract:The 2008 financial crisis has shown that financial busts can influence the real economy. However, there is less evidence to suggest that the same holds for financial booms. Using a Markov-Switching vector autoregressive ...
Date:2017Type:Working PaperSeries/Number:Sveriges Riksbank Working Paper Series; 2017/337Abstract:The 2008 financial crisis has shown that financial busts can influence the real economy. However, there is less evidence to suggest that the same holds for financial booms. Using a Markov-Switching vector autoregressive ...