Essays On Networks And Macroeconomics
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Essays On Networks And Macroeconomics
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Author :
language : en
Publisher:
Release Date : 2015
Essays On Networks And Macroeconomics written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This thesis consists of three essays related by the themes of networks and macroeconomics. The first essay examines the role of networks in workers' search for employment. Unemployed workers gain employment by sending resumes directly to employers, and indirectly through employed friends. I find that the amount of search effort a worker undertakes is related to how many employed friends it has, and whether networks are substitutes or complements in search. When search costs are linear I find that complementary networks cause those with the most friends to search, while substitutable networks cause search effort to be independent of an individual's network position. Finally, I examine the role of aggregate links on aggregate matching. The second essay examines the impact of networks on aggregate labour market variables, such as unemployment and unfilled vacancies. It is concluded that networks lead to wage heterogeneity, increased unemployment volatility, and higher autocorrelation of vacancy rates. The conclusions follow analytically using an approximation method, and quantitative magnitudes are discussed using numerical simulations. Finally, issues of network formation and multiple equilibria are addressed. The final essay analyzes the role of imitation on firm pricing decisions. A generalization of Calvo pricing is developed. It is shown that price dynamics are much different in a model with imitation. I demonstrate analytically that sticky inflation can arise. I partially characterize equilibrium prices and inflation. I finish the chapter by generalizing the network effects.
Networks Markets And The Pacific Rim
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Author : W. Mark Fruin
language : en
Publisher: Oxford University Press
Release Date : 1998-11-19
Networks Markets And The Pacific Rim written by W. Mark Fruin and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-11-19 with Business & Economics categories.
Despite the negative press Asian economies have received in connection with the recent financial crisis, their record of spectacular growth over the past few decades remains irrefutable. In an effort to provide a rich, textured analysis of these economies, editor W. Mark Fruin presents a collection of essays that explores the wide range of network organizations that have been established in the Pacific Rim. Conventional studies of economic organization have tended to center on markets and hierarchies, the two forms of organization most common in the West. But today the world moves too quickly and too unpredictably for the idealized organizations of microeconomic theory to keep up. It is no accident that the region that has generated the world's most explosive economic growth is also the region where network organizations--sets of independent actors who cooperate frequently for mutual advantage--are most pervasive. Rapid economic, social, and technical changes favor the formation of network organizations, and vice versa. The contributors to this volume identify and elucidate four basic types of networks: naturally occurring networks, market replacing networks, hierarchy replacing networks, and market enhancing networks. They show how all of these have been shaped by the history, government, legal system, and culture of each country under consideration. These network organizations allow the authors to compare and contrast network forms in China, Japan, South Korea, Taiwan, and the United States according to features such as degrees of formalization, rule definition, and market conformance. The works collected here make an important contribution to a networks-markets- hierarchies framework that recognizes and emphasizes the diversity of organizational forms and behaviors. A unique resource for scholars and professionals in the fields of management and economics, this book enables a complex analysis of one of the world's fastest growing and most theoretically challenging regions.
Essays On New Institutional Economics
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Author : Rudolf Richter
language : en
Publisher: Springer
Release Date : 2015-04-29
Essays On New Institutional Economics written by Rudolf Richter and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-29 with Business & Economics categories.
This collection of essays comprises some of Rudolf Richter’s important contributions to research on New Institutional Economics (NIE). It deals with the central idea, principles, and methodology of New Institutional Economics and explores its relation to sociology and law. Other chapters examine applications of NIE to various microeconomic and macroeconomic issues in the face of uncertainty, from entrepreneurship to the euro crisis.
Macroeconomics And Beyond
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Author : Guido Erreygers
language : en
Publisher: Maklu
Release Date : 2012
Macroeconomics And Beyond written by Guido Erreygers and has been published by Maklu this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
This book contains 20 essays on macroecomics.
Essays On Macroeconomics And Capital Intermediation Networks
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Author : Jose Luis Chavez Calva
language : en
Publisher:
Release Date : 2017
Essays On Macroeconomics And Capital Intermediation Networks written by Jose Luis Chavez Calva and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Essays In The Economics Of Networks
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Author : A. N. Advani
language : en
Publisher:
Release Date : 2017
Essays In The Economics Of Networks written by A. N. Advani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Essays On The Economics Of Networks And Standards
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Author : Tobias Kretschmer
language : en
Publisher:
Release Date : 2001
Essays On The Economics Of Networks And Standards written by Tobias Kretschmer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
Essays In The Economics Of Networks
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Author : Edoardo Gallo
language : en
Publisher:
Release Date : 2010
Essays In The Economics Of Networks written by Edoardo Gallo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Social networks categories.
Financial And Macroeconomic Connectedness
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Author : Francis X. Diebold
language : en
Publisher: Oxford University Press
Release Date : 2015-02-03
Financial And Macroeconomic Connectedness written by Francis X. Diebold and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-03 with Business & Economics categories.
Connections among different assets, asset classes, portfolios, and the stocks of individual institutions are critical in examining financial markets. Interest in financial markets implies interest in underlying macroeconomic fundamentals. In Financial and Macroeconomic Connectedness, Frank Diebold and Kamil Yilmaz propose a simple framework for defining, measuring, and monitoring connectedness, which is central to finance and macroeconomics. These measures of connectedness are theoretically rigorous yet empirically relevant. The approach to connectedness proposed by the authors is intimately related to the familiar econometric notion of variance decomposition. The full set of variance decompositions from vector auto-regressions produces the core of the 'connectedness table.' The connectedness table makes clear how one can begin with the most disaggregated pair-wise directional connectedness measures and aggregate them in various ways to obtain total connectedness measures. The authors also show that variance decompositions define weighted, directed networks, so that these proposed connectedness measures are intimately related to key measures of connectedness used in the network literature. After describing their methods in the first part of the book, the authors proceed to characterize daily return and volatility connectedness across major asset (stock, bond, foreign exchange and commodity) markets as well as the financial institutions within the U.S. and across countries since late 1990s. These specific measures of volatility connectedness show that stock markets played a critical role in spreading the volatility shocks from the U.S. to other countries. Furthermore, while the return connectedness across stock markets increased gradually over time the volatility connectedness measures were subject to significant jumps during major crisis events. This book examines not only financial connectedness, but also real fundamental connectedness. In particular, the authors show that global business cycle connectedness is economically significant and time-varying, that the U.S. has disproportionately high connectedness to others, and that pairwise country connectedness is inversely related to bilateral trade surpluses.
Three Essays On Networks And Public Economics
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Author : Pier-André Bouchard St Amant
language : en
Publisher:
Release Date : 2013
Three Essays On Networks And Public Economics written by Pier-André Bouchard St Amant and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This thesis is a collection of three essays. The first two study how ideas spread through a network of individuals, and how it an advertiser can exploit it. In the model I develop, users choose their sources of information based on the perceived usefulness of their sources of information. This contrasts with previous literature where there is no choice made by network users and thus, the information flow is fixed. I provide a complete theoretical characterization of the solution and define a natural measure of influence based on choices of users. I also present an algorithm to solve the model in polynomial time on any network, regardless of the scale or the topology. I also discuss the properties of a network technology from a public economic standpoint. In essence, a network allows the reproduction of ideas for free for the advertiser. If there is any free-riding problem, I show that coalitions of users on the network can solve such problem. I also discuss the social value of networks, a value that cannot be captured for profit. The third essay is completely distinct from the network paradigm and instead studies funding rules for public universities. I show that a funding rule that depends solely on enrolment leads to "competition by franchise" and that such behavior is sometimes inefficient. I suggest instead an alternate funding rule that allows government to increase welfare without increasing spending in universities.