Goldbaum, D 2000, 'Cycles of market stability and instability due to endogenous use of technical trading rules' in Abu-Mostafa, YS, LeBaron, B, Lo, AW & Weigend, AS (eds), Computational Finance - Proceedings of the 6th International Conference, MIT Press, USA, pp. 481-493.
Amir, R & Wooders, J 2000, 'One-way spillovers, endogenous innovator/imitator roles, and research joint ventures', GAMES AND ECONOMIC BEHAVIOR, vol. 31, no. 1, pp. 1-25.
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We consider a two-period duopoly characterized by a one-way spillover structure in process R&D and a very broad specification of product market competition. We show that a priori identical firms always engage in different levels of R&D, at equilibrium, thus giving rise to an innovator/imitator configuration and ending up with different sizes. We also provide a general analysis of the social benefits of, and firms' incentive for, forming research joint ventures. Another contribution is methodological, illustrating how submodularity (R&D decisions are strategic substitutes) can be exploited to provide a general analysis of a R&D game. Journal of Economic Literature Classification Numbers: C72, L13, O31.
Baddeley, M, Martin, R & Tyler, P 2000, 'Regional Wage Rigidity: The European Union and United States Compared', Journal of Regional Science, vol. 40, no. 1, pp. 115-141.
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In recent years it has been pointed out that regional unemployment disparities are much more entrenched across member states of the European Union (E.U.) than they are in the U.S. A ‘conventional wisdom' has emerged to the effect that this difference is due in part to the greater degree of wage rigidity in E.U. regions. In this paper we explore this issue by estimating short run and long run real wage (in)flexibility for the regions in five core E.U. countries (Germany, France, Italy, the United Kingdom, and the Netherlands) and for the U.S. states for the period 1976–1994. We find that real wage (in)flexibility varies across regions both in the E.U. and the U.S., but that, on average, regional wages are no less flexible in E.U. core regions than in U.S. states. The paper also examines some of the possible correlates ofregional variations in wage (in)flexibility.
Bajada, C 2000, 'An Examination of the Statistical Discrepancy and Private Investment Expenditure', Journal of Applied Economics, vol. 4, no. 1, pp. 27-61.
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The statistical discrepancy is often used to gauge the reliability of national accounts data. Particularly since the mid-1980's the statistical discrepancy in Australia has grown significantly in size and variance. In the paper we demonstrate that the overwhelming contribution to the size of the statistical discrepancy is mismeasurement of private investment expenditure. We demonstrate that this mismeasurement not only adds to the volatility of investment but may have a significant impact on the volatility of the business cycle in general.
Goldbaum, D 2000, 'Life cycle consumption of a harmful and addictive good', ECONOMIC INQUIRY, vol. 38, no. 3, pp. 458-469.
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This article demonstrates that the endogenous desire to quit smoking can result from a rational consumption path chosen at the time rite consumer begins smoking. This result is obtained without relying oil hidden costs or unknown preferences. A finite-li
Menzies, GD 2000, 'The economics and ethics of international debt relief', UK Association of Christian Economists Journal, vol. 27, no. March, pp. 1-16.
