Now showing items 1-20 of 50

    • 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 ...
    • 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 ...
    • 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 ...
    • 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 ...
    • 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 ...
    • 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 ...
    • 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 ...
    • Sequential action and beliefs under partially observable DSGE environments 

      Kim, Seong-Hoon (2012) - Journal article
      This paper introduces a classification of DSGEs from a Markovian perspective, and positions the class of POMDP (Partially Observable Markov Decision Process) to the center of a generalization of linear rational expectations ...
    • Multi-task research and research joint ventures 

      La Manna, Manfredi M A (2013-04) - Journal article
      The paper shows that, whenever the completion of a research project requires the overcoming of more than one research obstacle, then Research Joint Ventures enjoy an intrinsic advantage relative to independent firms. This ...
    • 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 ...
    • The timing of asset trade and optimal policy in dynamic open economies 

      Senay, Ozge; Sutherland, Alan (2013-12) - Journal article
      Using a standard open economy DSGE model, it is shown that the timing of asset trade relative to policy decisions has a potentially important impact on the welfare evaluation of monetary policy at the individual country ...
    • Endogenous price flexibility and optimal monetary policy 

      Senay, Ozge; Sutherland, Alan (2014) - Journal article
      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 ...
    • 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 ...
    • Welfare economics and bounded rationality : The case for model-based approaches 

      Manzini, Paola; Mariotti, Marco (2014-12) - Journal article
      In this paper we examine the problems facing a policy maker who observes inconsistent choices made by agents who are boundedly rational. We contrast a model-less and a model-based approach to welfare economics. We make the ...
    • 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 ...
    • Transaction costs and institutions : investments in exchange 

      Nolan, Charles; Trew, Alex William (2015) - Journal article
      This paper proposes a simple model for understanding transaction costs – their composition, size and policy implications. We distinguish between investments in institutions that facilitate exchange and the cost of conducting ...
    • Representing a democratic constituency in negotiations : delegation versus ratification 

      Cardona, D.; Ponsatí, C. (2015) - Journal article
      We consider negotiations where one of the parties is a group that must send a representative to the bargaining table. We examine the trade-offs that the group faces in choosing between two different regimes for this ...
    • Size invariant measures of association : characterization and difficulties 

      Negri, Margherita; Sprumont, Yves (2015-05) - Journal article
      A measure of association on cross-classification tables is row-size invariant if it is unaffected by the multiplication of all entries in a row by the same positive number. It is class-size invariant if it is unaffected ...