Irreversible investment with regime shifts

Article Abstract:

A study proposing a model of investment decisions by firms in which the growth rate and volatility of the decision variable shifts between different states at random times is presented. A value-maximizing investment policy is derived such that in each regime the firm's investment policy is optimal and recognizes the possibility of a regime shift.

Switzerland, Financial Planning, Monetary policy, Economic development models

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Job contact networks

Article Abstract:

Individual and aggregate labor market outcomes to the network structure of personal contacts are related and the strategic network formation is examined. A model specifying at the individual level both the decision to form contacts with other agents, and the process by which information about jobs is obtained and transmitted is developed.

Labor contracts, Labour contracts

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Competitive equilibria of economies with a continuum of consumers and aggregate shocks

Article Abstract:

Establishment of competitive equilibrium in a production economy faced with aggregate productivity shocks is analyzed. Economy comprises continuum of consumers and individual labor endowment shocks.

Equilibrium (Economics), Supply shocks

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