Economics
Welcome to the research outputs of the University of Exeter Business School Department of Economics
Recent Submissions
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Information Aggregation in Arrow-Debreu Markets: An Experiment
(Springer Verlag for Economic Science Association, 2017)Studies of experimental and betting markets have shown that markets are able to efficiently aggregate information dispersed over many traders. We study information aggregation in Arrow-Debreu markets using a novel ... -
Optimal monetary policy with endogenous export participation
(Elsevier for Society for Economic Dynamics, 2015-03-12)This paper studies optimal monetary policy in an open economy with firm heterogeneity and monopolistic competition. I consider a two-country dynamic general equilibrium model where firms make decisions to enter and exit ... -
Discrimination in a deprived neighbourhood: an artefactual field experiment
(Elsevier, 2017-06-21)We present a field experiment designed to examine the discriminatory motives of an understudied demographic: the poorest people in England. Subjects are first asked to divide £10 between two strangers, and then play a ... -
Strategic substitutes, complements and ambiguity: an experimental study
(2015)We report the results from a set of experiments conducted to test the e§ect of ambiguity on individual behaviour in games of strategic complements and strategic substitutes. We test whether subjectsíperception of ambiguity ... -
The Effect of Competition on Executive Compensation and Incentives: Evidence from a Quasi-natural Experiment
(University of Wisconsin Press, 2017)This paper studies the effect of increased product market competition on executive compensation and incentives. We use a reform that simplified firm entry regulation in Portugal as a quasi-natural experiment, and exploit ... -
US–Shrimp II (Vietnam): Dubious Application of Anti-Dumping Duties – Should Have Used Safeguards
(European University Institute, 2017-04)This article explores the idea that the USDOC imposed anti-dumping duties on Vietnamese shrimp producers despite the fact that the surge of shrimp imports giving rise to the duties may have come from elsewhere in the ... -
Listen to the market, hear the best policy decision, but don’t always choose it
(University of Essex, Department of Economics, 2014)Real-world policymakers want to extract investors' private information about a policy's likely effects by 'listening to' asset markets. However, this brings the risk that investors will profitably 'manipulate' prices to ... -
Endogenous Sanctioning Institutions and Migration Patterns: Experimental Evidence
(University of Exeter, 2017)We experimentally analyze the effect of the endogenous choice of sanctioning institutions on cooperation and migration patterns across societies. In our experiment, subjects are allocated to one of two groups, are endowed ... -
Bilateral trading and incomplete information: Price convergence in a small market
(-, 2016-10-28)We study a model of decentralised bilateral interactions in a small market where one of the sellers has private information about her value. In addition to this informed seller, there are two identical buyers and another ... -
The effects of induced emotions on pro-social behaviour
(Elsevier, 2016-02-01)Emotions are commonly experienced and expressed in human societies; however, their consequences on economic behaviour have received only limited attention. This paper investigates the effects of induced positive and negative ... -
Variable selection for a categorical varying-coefficient model with identifications for determinants of Body Mass Index
(Institute of Mathematical Statistics (IMS), 2017-07-20)Obesity has become one of the major public health issues during the last three decades. A considerable number of determinants have been proposed for body mass index (BMI) by a large range of studies from multiple disciplines. ... -
Protection in government procurement auctions
(Elsevier, 2017-03-23)Discrimination against foreign bidders in procurement auctions has typically been achieved by price preferences, that is, a policy of accepting a range of higher prices from a domestic firm over a lower price from a ... -
The reset inflation puzzle and the heterogeneity in price stickiness
(Elsevier, 2015-08-11)New Keynesian models have been criticised on the grounds that they require implausibly large price shocks to explain inflation. Bils et al. (2012) show that, while these shocks are needed to reduce the excessive inflation ... -
The Fiscal Multiplier in a Liquidity Constrained New Keynesian Economy
(Wiley, 2016-07-11)We study the effects of fiscal policy on the macroeconomy using a liquidity constrained New Keynesian model in which government bonds are liquid and private financial assets are only partially liquid. We find that the ... -
Does US monetary policy respond to oil and food prices?
(Elsevier, 2017-01-07)© 2016 Elsevier LtdA common view is that US monetary policy does not respond to changes in volatile energy and food prices. Despite this view, the popular New Keynesian models assume Taylor-type rules under which the ... -
The Tax Implications of Scottish Independence or Further Devolution
(Institute of Chartered Accountants in Scotland, 2014-05)This report considers the practical implications of further devolution of tax powers in Scotland or an independent tax regime under independence. It is not the purpose of this report to recommend any course of action in ... -
Patent breadth in an international setting
(Wiley for Western Economic Association International, 2017-02-27)This paper examines the Nash equilibria of a game where two national governments set patent breadth, which determines how di§erent an imitating Örmís product must be in order to avoid infringing on an innovatorís patent. ... -
Pampered bureaucracy, political stability, and trade integration
(Wiley, 2017-03-29)This paper examines the e§ect of trade integration and comparative advantage on one of a countryís institutions, which in turn ináuences its economic ef- Öciency. The environment we explore is one in which a countryís ... -
An experiment on forward vs. backward induction: how fairness and level k reasoning matter
(Wiley for Verein für Socialpolitik, 2016-08)We report the experimental results o n a game with an outside optionwhere forward induction contradicts with backward induction based on a focal, riskdominant equilibrium. The latter procedure yields the equilibrium selected ... -
US-Shrimp II (Vietnam): Dubious application of anti-dumping duties; should have used safeguards
(Cambridge University Press, 2017-03-10)This article explores the idea that the USDOC imposed anti-dumping duties on Vietnamese shrimp producers despite the fact that the surge of shrimp imports giving rise to the duties may have come from elsewhere in the ...