Now showing items 1-14 of 14

    • A behavioural model of choice in the presence of decision conflict 

      Gerasimou, Georgios (University of St Andrews, 2013-05) - Working or discussion paper
      This paper proposes a model of choice that does not assume completeness of the decision maker’s preferences. The model explains in a natural way, and within a unified framework choice when preference-incomparable options ...
    • A characterization of risk-neutral and ambiguity-averse behavior 

      Gerasimou, Georgios (University of St Andrews, 2015-12-09) - Working or discussion paper
      This paper studies a decision maker who chooses monetary bets/investment portfolios under pure uncertainty. Necessary and sufficient conditions on his preferences over these objects are provided for his choice behavior to ...
    • Choice, deferral and consistency 

      Costa-Gomes, Miguel; Cueva, Carlos; Gerasimou, Georgios (University of St Andrews, 2014-12-26) - Working or discussion paper
      In this paper we study decision making in situations where the individual's preferences are not assumed to be complete. First, we identify conditions that are necessary and sufficient for choice behavior in general domains ...
    • The cost of political intervention in monetary policy 

      Cobham, David; Papadopoulos, Athanasios; Zis, George (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      Data from a unique monetary ‘experiment’ conducted in the UK during the period 1994-97 are used to investigate the cost of political intervention in monetary policy. The paper finds that the difference between government ...
    • Dominance solvable games with multiple payoff criteria 

      Gerasimou, Georgios (University of St Andrews, 2014-07-25) - Working or discussion paper
      Two logically distinct and permissive extensions of iterative weak dominance are introduced for games with possibly vector-valued payoffs. The first, iterative partial dominance, builds on an easy-to-check condition but ...
    • Endogenous Price Flexibility and Optimal Monetary Policy 

      Sutherland, Alan; Senay, Ozge (Centre for Dynamic Macroeconomic Analysis, 2010) - Working or discussion paper
      Much of the literature on optimal monetary policy uses models in which the degree of nominal price flexibility is exogenous. There are, however, good reasons to suppose that the degree of price flexibility adjusts endogenously ...
    • Growing through subsidies 

      Aloi, Marta; Lasselle, Laurence (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      We consider an overlapping generation model based on Matsuyama (1999) and show that, whenever actual capital accumulation falls below its balanced growth path, subsidising innovators by taxing consumers has stabilising ...
    • Heterogeneous beliefs and instability 

      Lasselle, Laurence; Svizzero, Serge; Tisdell, Clem (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      While Rational Expectations have dominated the paradigm of expectations formation, they have been more recently challenged on the empirical ground such as, for instance, in the dynamics of the exchange rate. This challenge ...
    • Higher tax for top earners 

      FitzRoy, Felix; Jin, Jim (University of St Andrews, 2017-02) - Working or discussion paper
      The literature can justify increasing and decreasing marginal taxes (IMT & DMT) on top income under different social objectives and income distributions. Even if DMT are optimal, they are often politically infeasible. Then ...
    • On the persistence of output fluctuations in high technology sectors 

      Lasselle, Laurence; Aloi, Marta; McMillan, David G. (School of Economics and Finance, University of St Andrews, 2000) - Working or discussion paper
      Fatás (2000) argues that in a cross-section analysis of countries there exists a positive correlation between long-term growth rates and the persistence of output fluctuations. The current paper extends this line of ...
    • Renormalization method and its economic applications 

      Briec, Walter; Lasselle, Laurence (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      The purpose of this paper is to give new insights of the method of Helleman (1980) in the context of macrodynamics. This method explains how a difference equation can be locally studied from the Feigenbaum equation in ...
    • Taxation, unemployment and working time in models of economic growth 

      FitzRoy, Felix; Funke, Michael; Nolan, Michael A. (School of Economics and Finance, University of St Andrews., 2001-08) - Working or discussion paper
      This paper combines collective bargaining over wages and working time with models of endogenous and neoclassical growth. Public expenditure is funded by taxes on capital and labour supplied by infinitely-lived households ...
    • Universities and fundamental research: reflections on the growth of university-industry partnership 

      Poyago-Theotoky, Joanna; Beath, John; Siegel, Donald S. (School of Economics and Finance, University of St Andrews, 2002) - Working or discussion paper
      The recent rise in university-industry partnerships has stimulated an important public policy debate regarding how these relationships affect fundamental research. In this paper, we examine the antecedents and consequences ...
    • Welfare, growth and environment: a sceptical review of the skeptical environmentalist (Bjørn Lomborg, Cambridge University Press, 2001) 

      FitzRoy, Felix; Smith, Ian (School of Economics and Finance, University of St Andrews, 2002) - Working or discussion paper
      In his wide ranging attempt to review the literature on economic development and welfare in relation to the environment, Lomborg claims balance and objectivity, but actually presents a thoroughly misleading picture of ...