infonet-economy

This paper explores the effects of capital controls and policies regulating interest rates and the exchange rate in a model of economic transition applied to China. It builds on Song, Storesletten, and Zilibotti (2011) who construct a growth model consistent with salient features of the recent Chinese growth experience: high output growth, sustained returns on capital investment,…

By use of cointegration analysis, this paper splits bank leverage into a short- and long-run dimension. Regarding the long run, if banks’ leverage ratios or related liability shares are stable over time, they form a cointegrating relationship. Thus, cointegration tests indicate whether banks’ liability ratios were stable or subject to structural breaks during the financial crisis in…

Rechtliche Interventionen mit sozialpolitischer Zielsetzung im Binnenraum privater Lebensformen zeitigen neben den beabsichtigten auch ungewollte und unerwünschte Wirkungen. Dies lässt sich am Beispiel zweier jüngerer gleichstellungspolitisch motivierter Sozial- und Familienrechtsreformen zeigen, die bei näherem Hinschauen widersprüchliche Anreize senden. Diese sind unter anderem…

This article deals with the analysis of large or complex system dynamics (SD) models, exploring the benefits of a multimethodological approach to model analysis. We compare model analysis results from SD and social network analysis (SNA) by deploying SNA techniques on a pertinent example from the SD literature—the world dynamics model. Although SNA is a clearly distinct method from…

Functional connections (FC) between the amygdala and cortical and subcortical regions underlie a range of affective and cognitive processes. Despite the central role amygdala networks have in these functions, the normative developmental emergence of FC between the amygdala and the rest of the brain is still largely undefined. This study employed amygdala subregion maps and resting-…

We propose a novel regime-switching approach for modeling electricity spot prices that takes into account the relation between spot and forward prices. Additionally the model is able to reproduce spikes and negative prices. Market prices are based on an observed forward curve. We distinguish between a base regime and an upper as well as a lower spike regime. The model parameters are…

This paper studies tax competition in an economic geography model that allows for agglomeration economies with trade costs and heterogeneous firms. We find that the Nash equilibrium involves the large country charging a higher tax than the small nation. Lower trade costs lead to an intensification of competition, a drop in Nash tax rates, and a narrowing of the gap. Since large,…

Efficiently growing a group or firm often requires integration of individuals from lower-performing entities. We explore the effectiveness of two policies intended to facilitate such integration, using a laboratory experiment that models production as a coordination game with Pareto-ranked equilibria. We initially create an efficient group and an inefficient one. We then allow…