We document a new set of facts regarding the impact referrals on labor market outcomes. Our results highlight importance distinguishing between different types referrals—those from family and friends those business contacts—and occupations. Then we develop an on-the-job search model that incorporates calibrate to key moments in data. The calibrated yields insights into roles played by match for...

The majority of market theory is only concerned with centralised markets. In this paper, we consider a market that is distributed over a network, allowing us to characterise spatially (or temporally) separated markets. The effect of this modification on the behaviour of a market with a heterogeneous population of traders, under selection through a genetic algorithm, is examined. It is demonstra...

We study nominal GDP targeting as optimal monetary policy in a model with a credit market friction following Azariadis, Bullard, Singh and Suda (2016), henceforth ABSS. As in ABSS, the macroeconomy we study has considerable income inequality which gives rise to a large private sector credit market. Households participating in this market use non-state contingent nominal contracts (NSCNC). We ex...

Recently, understanding the anomalies in financial markets have severely chal-lenged the efficient market hypothesis (EMH). The price momentum is one of the anomalies described as the unexplained short-term return by Fama and French (1996). The present research strives for modeling the price momentum of winner stock in the Iranian capital market. The grounded theory method was used to explain t...

This paper presents the results of tests on the weak form of Efficient Market Hypothesis applied to carbon efficient stock market indices of India, the United States of America (USA), Japan, and Brazil and their corresponding market indices which are used as their benchmark indices. In this study, Kolmogrov-Smirnov and Shapiro-Wilk tests are used to test the normality of data. Run test and auto...

The capital market in each country is considered as the most important part of the economy and its fluctuations may reflect the economic situation of the country. In this paper, the hypothesis of convergence of stock market price indices in Asian countries during the period from January 2007 to February 2017 is investigated using cluster analysis method. The results show that there is no eviden...