Macroeconomic fluctuations and bargaining

Article Abstract:

A formula for finding the limiting immediate trade solution to the alternating-offer bargaining game when the surplus follows a finite-state Poisson process is developed. Two simple applications are presented to illustrate the fact that the rule for bilateral bargaining is of special importance for decentralized exchange economics with bargaining.

United States, Economics, Macroeconomics, Economic theory

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Financial globalization and real rationalization

Article Abstract:

A model, in which financial globalization occurs endogenously in response to less correlated real shocks is presented. The findings reveal that both less correlated shocks and the endogenous change in international financial markets are needed to quantitatively account for the observed changes in the international business cycle.

Models, International aspects, Financial markets, Business cycles, Globalization

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Bargaining in a network of buyers and sellers

Article Abstract:

Bargaining between buyers and sellers connected by exogenously given network is analyzed. A graph theory tool is used to provide necessary conditions of architecture of networks for subgame perfect equilibrium of bargaining game to coincide with the Walrasian outcome.

Supply and demand, Equilibrium (Economics)

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