We use a Factor Augmented VAR model to estimate the dynamic responses of interest rates in emerging market economies to the ‘world’ interest rate, which we extract from a dynamic factor model of yields in industrialized ...

This paper explores the estimation of a class of life‐cycle discrete choice dynastic models. It provides a new representation of the value function for these class of models. It compare a multistage conditional choice ...

We show that credit levels relative to GDP and other measures for financial development tend to converge across countries over time. The results are obtained using a broad sample of countries over many years and controlling ...

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We introduce a game-theoretic model with switching costs and endogenous references. An agent endogenizes his reference strategy, and then taking switching costs into account, he selects a strategy from which there is no ...

This chapter contains sections titled: Introduction Data Description Measures of Choice Concentration Methodology Results Interpreting θ Decomposing the Effects of Time, Number of Decisions and Concentration Preference Conclusion.

Background: Women often have a preference for female obstetrics and gynaecology specialists (ob/gyns). Following the policy allowing physician selection by patients in Turkey, distribution of ob/gyns by gender across ...

This chapter argues that the rise of “Islamic capitalism” and the country’s so-called “conservative bourgeoisie” owes much to the pragmatism and agility of Islamic actors who are quick to seize upon new economic and political ...

The arbitrary-sharing connection game is prominent in the network formation game literature [1]. An undirected graph with positive edge weights is given, where the weight of an edge is the cost of building it. An edge is ...

In a strategic-form game, a strategy profile is an equilibrium if no viable coalition of agents (or players) benefits (in the Pareto sense) from jointly changing their strategies. Weaker or stronger equilibrium notions can ...