Agents learn about a changing state using private signals and their neighbours’ past estimates of the state. We present a model in which Bayesian agents in equilibrium use neighbours’ estimates simply by taking weighted sums with time-invariant weights. The dynamics thus parallel those of the tra...
Safe asset shortages can expose an economy to liquidity traps. The nature of these traps is determined by the cyclicality of the bond premium. A counter-cyclical bond premium opens the possibility of expectations-driven liquidity traps in which small issuances of government debt crowd out private d...
摘要：We study the impact of changing choice set size on the quality of choices in health insurance markets. Using novel data on enrolment and medical claims for school district employees in the state of Oregon, we document that the average employee could save $600 by switching to a lower co...
The Review of Economic Studies, Volume 90, Issue 3, May 2023, Pages 1084–1124, https://doi.org/10.1093/restud/rdac044 Abstract We study dynamic matching in exchange markets with easy- and hard-to-match agents. A greedy policy, which attempts to match agents upon arrival, ignores the pos...
Continues the 18th-century Southern European tradition of Civil Economy, focusing on topics such as public happiness, trust, market virtues. Contributions of scholars working at the crossroads with behavioural science, philosophy and ethics, theology, and history of ideas are welcome. ...
2023 Year in Review focuses on the riveting “Year of Treasury Debt, Money Market Fund Intermediation, Repos and the ‘Basis Trade’. Click here to read more.
World Review of Political Economy, Volume 14, Issue 4, Winter 2023 is now available online on ScienceOpen. This new issue contains the following articles: Articles Exploitation, Capitalist Crisis, and Democratic Planning:...
The 33rd Annual Conference of Chinese Economics Society Australia (CESA): China and the Global Economy in the Post COVID World This special issue features a collection of selected and refereed papers presented at the 33rd Annual Conference of the Chines
In 2023, the global economy grappled with the hurdles on its path to a much-needed recovery, including escalating geopolitical tension, surging natural disasters, and the growing trend of deglobalization and trade protectionism. In its latest economic outlook report, the Organization for Economic Coop...
Infrequent Random Portfolio Decisions in an Open Economy Model 开放经济模型中的不常见随机投资组合决策 Philippe Bacchettaand others The Review of Economic Studies, Volume 90, Issue 3, May 2023, Pages 1125–1154,https://doi.org/10.1093/restud/rdac054 ...