We study supply and demand shocks in a disaggregated model with multiple sectors, factors, input-output linkages, downward nominal wage rigidities, credit-constraints, zero lower bound. use the to understand how COVID-19 crisis, an omnibus shock, affects output, unemployment, inflation, leads coexistence of tight slack labor markets. show that negative sectoral are stagflationary, whereas defla...

Abstract Wineries in the “old world” export almost 40% of their production. This study analyzes influence vertical and horizontal networks on performance. We draw a sample 183 Spanish wineries examine main independent variables using two-step Heckman model. find positive effects and—at somewhat lower level—downstream (JEL Classifications: L66, M16, Q13)

In a previous essay, we developed a simple (in)efficiency measure for matrix games. We now address the difficulties encountered in assessing the usefulness and accuracy of such a measure. JEL Classifications: C63, C72, D61

We show that for any mechanism there exists an equivalent dominant strategy incentive compatible mechanism for social choice environments with correlated types when agent’s matrix of conditional probabilities satisfies the full rank condition. JEL classifications: D82

An overview is given of the utilization of strategic market games in the development of a game theory based theory of money and financial institutions. JEL Classifications: C72, C73, E44

It is common to note that social environment and cultural formation shape mental disorders. The details of this claim are, however, not well understood. The paper takes a look at the claim that culture has an impact on psychiatry from the perspective of metaphysics and the philosophy of science. Its aim is to offer, in a general fashion, partial explications of some significant versions of the ...

This paper examines the relation between granting central banks more independence represented in both its manifested legal charter as well actual practices adopted and inflation Egypt during period from 1998-2019. To do so, this first looks at evolution of different bank (CBI) measures adopts most comprehensive relevant one. Consequently, it runs a regression model adopting an autoregressive di...

What explains the central role of dollar in world trade? Will US currency retain its dominant status future? This paper develops a quantitative general equilibrium framework with endogenous choice that can address these questions. Complementarities price setting and input-output linkages across firms generate complementarities making exporters coordinate on same invoicing. The is more likely to...

The present paper thoroughly explores second-best efficient allocations in an adverse selection insurance economy. We start from a natural extension of the classical model, assuming less than perfect risk perceptions. We propose first and second welfare theorems, by means of which we describe efficiencyenhancing policies. Notions of weak and strong adverse selection are promising for interpreti...