1,721,197 research outputs found
Variety : the coexistence of techniques
No full textKirman Alan. Variety : the coexistence of techniques. In: Revue d'économie industrielle, vol. 59, 1er trimestre 1992. Diversité technologique et cohérence en Europe. pp. 62-74
Introduction to the special issue on “New macroeconomic perspectives on inequality, credit, and stability”
No full text
The Emergence and Impact of Market Institutions: The Market for Fish and Other Perishable Commodities
No full textIntroduction to the special issue "The emergence and impact of market institutions: The wholesale market for fish and other perishable commodities"
The emergence and impact of market institutions: The wholesale market for fish and other perishable commodities
No full textÉmergence, formation et dynamique des réseaux. Modèles de la morphogenèse
No full textCohendet Patrick, Kirman Alan, Zimmermann Jean-Benoît. Émergence, formation et dynamique des réseaux. Modèles de la morphogenèse. In: Revue d'économie industrielle, vol. 103, 2e et 3e trimestre 2003. La morphogénèse des réseaux, sous la direction de Patrick Cohendet, Alan Kirman et Jean-Benoît Zimmermann. pp. 15-42
The grass is always greener on the other side of the fence - The effect of misperceived signalling in a network formation process
No full textlast ten years, because of both the application of game theory to the network formation processes4, and the study of stochastic processes
that fit the statistical properties of real world social networks.5 In the very recent years there have also been attempts to combine the contribution of these two streams of research, trying to find strategic models whose equilibria resemble the empirical data.6 A well known source of debate in the game theoretical approach is the incompatibility between stability and efficiency: in most of the models Nash equilibria are actually not the network architectures that maximize the overall sum of utilities, as surveyed in Jackson (2003). On the other hand the econophysics approach is not interested in the utility of single nodes but has other measures of efficiency, which are essentially the probabilities of the network to maintain certain properties after random deletion of links or nodes
Systemic risk and macroeconomic fat tails
Full text linkWe propose a mechanism for shock amplification that potentially can account for fat tails in the distribution of the growth rate of national output. We argue that extreme macroeconomic events, such as the Great Depression and the Great Recession, were preceded by significant turmoil in the banking system. We have developed a model of bank network formation and presented numerical simulations that show that, for the benchmark case, aggregate credit follows a random walk. When we introduce fire sales the model does not only produce larger variations in the growth of aggregate credit but also shows that there is an asymmetry between booms and busts that is also consistent with empirical evidence
- …
