In this paper we introduce a calibration procedure for validating of agent based models. Starting from the well-known financial model of (Brock and Hommes, 1998), we show how an appropriate calibration enables the model to describe price time series. We formulate the ca...

Fair trade critiques the historical inequalities inherent in international trade and seeks to promote social justice by creating alternative networks linking marginalized producers (typically in the global South) with progressive consumers (typically in the global North...

The Elgar Companion to Hayekian Economics provides an in-depth treatment of Friedrich August von Hayek’s economic thought from his technical economics of the 1920s and 1930s to his broader views on the spontaneous order of a free society. Taken together, the chapters sh...

This paper analyzes the early research performance of PhD graduates in labor economics, addressing the following questions: Are there major productivity differences between graduates from American and European institutions? If so, how relevant is the quality of the trai...

Die vorliegende Arbeit analysiert die Interdependenzen und Informationsstrukturen im Gesundheitswesen. Hauptansatzpunkt ist die beidseitig asymmetrische Information zwischen Arzt und Patient. Der Patient kann i. d. R. weder die Wirkung der Leistungen des Arztes genau ei...

Contemporary societies are characterised by new and more flexible working patterns, new family structures and widening social divisions. This book explores how these macro-level changes affect the micro organisation of daily life, with reference to working patterns and ...

Increasing maternal employment rates engage policies and people for decades. It is pushed but also questioned at the same time depending on whether women are regarded in first line as mothers or workers. In Germany, the male breadwinner model is traditionally favored. T...

Niger's government has adopted an ambitious development plan, based on the use of oil and mining revenue for public investment in infrastructure, agriculture, health, and education. IMF staff underlined the need to step up efforts to improve the business climate in Nige...

International audience; This paper explores the problem of a social planner willing to improve the welfare of individuals who are unable to compare all available alternatives. The optimal decision trades off the individuals’ desire for flexibility versus their aversion ...

This paper develops a real business cycle model with labor market search and matching frictions, which endogenously links both the cyclical fluctuations and the mean level of unemployment to the aggregate business cycle risk. The key result of the paper is that business...