Miracle on Sixth Avenue: information externalities and search
A theory of search with information externalities was formulated to analyze the resurgence of retail activities in Lower Sixth Avenue, NY after experiencing a long period of recession. The theory explains the Manhattan area's revitalization from a collapsed retail center to one of the country's most fashionable retail area. It emphasizes the significance of learning from the actions of others during search and consolidation process.
Publication Name: Economic Journal
Trading costs, price, and volume in asset markets
The effect of trading costs on valuation and trading practices in an asset market, particularly the housing market, is examined. The use of price and volume indicators by market traders are also evaluated. Using asset markets with frictions as examples, it was found out that volume, as opposed to price, is a better tool in studying market conditions. Moreover, trading costs help explain the downward trend of price rigidity.
Publication Name: American Economic Review
Mass layoffs and unemployment
A new study analyses the incentives provided for groups of workers who are unemployed because of a mass layoff and examines the effect on search behaviour of learning from others.
Publication Name: Journal of Monetary Economics
- Abstracts: Scale economies and industry agglomeration externalities: a dynamic cost function approach. Examining the employer-size wage premium in the manufacturing, retail trade, and service industries using employer-employee matched data
- Abstracts: 'Work first': workfare and the regulation of contingent labour markets. Beyond 'employability.'
- Abstracts: Credible monetary policy in an infinite horizon model: recursive approaches. Financial fragility and the exchange rate regime
- Abstracts: Electronic Commerce, Trade and Tariff Revenue; A Quantitative Assessment. Developing countries in the new round of GATs negotiations: towards a pro-active role
- Abstracts: Ritchie Industries looks beyond livestock; positions for new futre. Agri-food marketers must assure safe products