منابع مشابه
Do Credit Market Imperfections and Balance Sheet Effects Explain why Emerging Markets React so Sharply to Negative Shocks?
This paper develops a fully microfounded two-sector DGE model for a small open economy subject to credit market imperfections (CMIs) and balance sheet problems (due to the presence of a currency mismatch). Specifically, some agents in this economy face credit constraints to finance investment due to information asymmetries and, while their assets are denominated in the domestic currency, their ...
متن کاملCoercion and Exchange: How did Markets Evolve?
What causes distinct trajectories of market development? Why did the modern market economy, characterized by impersonal exchange, first emerge in the West? This paper presents a theory of market development and evaluates it based on the histories of England, China, and Japan. The analysis focuses on how distinct coercion-constraining institutions that secure property rights differentially inter...
متن کاملWhy are there so many theories for sex, and what do we do with them?
It is widely known that there exists a multitude of possible explanations for the maintenance of sex; however, it is less clear how to handle such an explanatory pluralism. In this paper, we address one older and one more recent discussion on what might constitute a good theory for sex and find that they reflect a trade-off between maximizing the scientific virtues of generalism, realism, and p...
متن کاملHow Do Market Failures Justify Interventions in Rural Credit Markets?
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متن کاملDo Market Conditions Affect Gift Exchange? Evidence from Experimental Markets
We study whether behavior in experimental gift-exchange markets with repeated interaction is affected by market conditions. One issue we consider is the impact of competitive imbalance, by varying whether there is an excess supply of firms or an excess supply of workers in the market. Workers might react differently to high wage offers in the two cases, as it may seem that firms are ‘forced to ...
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ژورنال
عنوان ژورنال: Journal of Economic Behavior & Organization
سال: 2007
ISSN: 0167-2681
DOI: 10.1016/j.jebo.2005.12.020