nep-net New Economics Papers
on Network Economics
Issue of 2013‒05‒05
three papers chosen by
Yi-Nung Yang
Chung Yuan Christian University

  1. Uncovering the network structure of the world currency market: Cross-correlations in the fluctuations of daily exchange rates By Sitabhra Sinha; Uday Kovur
  2. How does geographical mobility of inventors influence network formation? By Ernest Miguelez
  3. Do Large Departments Make Academics More Productive? Agglomeration and Peer Effects in Research By Clément Bosquet; Pierre-Philippe Combes

  1. By: Sitabhra Sinha; Uday Kovur
    Abstract: The cross-correlations between the exchange rate fluctuations of 74 currencies over the period 1995-2012 are analyzed in this paper. The eigenvalue distribution of the cross-correlation matrix exhibits a bulk which approximately matches the bounds predicted from random matrices constructed using mutually uncorrelated time-series. However, a few large eigenvalues deviating from the bulk contain important information about the global market mode as well as important clusters of strongly interacting currencies.We reconstruct the network structure of the world currency market by using two different graph representation techniques, after filtering out the effects of global or market-wide signals on the one hand and random effects on the other. The two networks reveal complementary insights about the major motive forces of the global economy, including the identification of a group of potentially fast growing economies whose development trajectory may affect the global economy in the future as profoundly as the rise of India and China has affected it in the past decades.
    Date: 2013–05
  2. By: Ernest Miguelez (World Intellectual Property Organization, Economics and Statistics Division, Geneva, Switzerland)
    Abstract: The goal of this paper is to assess the influence of spatial mobility of knowledge workers on the formation of ties of scientific and industrial collaboration across European regions. Co-location has been traditionally invoked to ease formal collaboration between individuals and firms, since tie formation costs increase with physical distance between partners. In some instances, highly-skilled actors might become mobile and bridge regional networks across separate locations. This paper estimates a fixed effects logit model to ascertain precisely whether there exists a ‘previous co-location premium’ in the formation of networks across European regions.
    Keywords: inventors’ mobility, technological collaborations, co-location, European regions, panel data
    JEL: C8 J61 O31 O33 R0
    Date: 2013–04
  3. By: Clément Bosquet; Pierre-Philippe Combes
    Abstract: We study the effect of a large set of department characteristics on individual publication records. We control for many individual time-varying characteristics, individual fixed-effects and reverse causality. Department characteristics have an explanatory power that can be as high as that of individual characteristics. The departments that generate most externalities are those where academics are homogeneous in terms of publication performance and have diverse research fields, and, to a lesser extent, large departments, with more women, older academics, star academics and foreign co-authors. Department specialisation in a field also favours publication in that field. More students per academic does not penalise publication. At the individual level, women and older academics publish less, while the average publication quality increases with average number of authors per paper, individual field diversity, number of published papers and foreign co-authors.
    Keywords: productivity determinants, economic geography, networks, economics of science, selection and endogeneity
    JEL: R12 J24 I3
    Date: 2013–04

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