nep-sea New Economics Papers
on South East Asia
Issue of 2005‒08‒28
four papers chosen by
Kavita Iyengar
Asian Development Bank

  1. Is lumpy investment really irrelevant for the business cycle? By Tommy Sveen; Lutz Weinke
  2. Public Governance. A Blueprint for Political Action and Better Government By Rodolfo Apreda
  3. Networks in labor markets: Wage & employment dynamics & inequality By Calvo-Armengol, Antoni; Jackson, Matthew O.
  4. The economics of small worlds By Jackson, Matthew O.; Rogers, Brian W.

  1. By: Tommy Sveen (Norges Bank); Lutz Weinke (Universitat Pompeu Fabra)
    Abstract: New-Keynesian (NK) models can only account for the dynamic effects of monetary policy shocks if it is assumed that aggregate capital accumulation is much smoother than it would be the case under frictionless firm-level investment, as discussed in Woodford (2003, Ch. 5). We find that lumpy investment, when combined with price stickiness and market power of firms, can rationalize this assumption. Our main result is in stark contrast with the conclusions obtained by Thomas (2002) in the context of a real business cycle (RBC) model. We use our model to explain the economic mechanism behind this difference in the predictions of RBC and NK theory.
    Keywords: Lumpy investment, Sticky prices
    JEL: E22 E31 E32
    Date: 2005–08–19
  2. By: Rodolfo Apreda
    Abstract: This paper sets forth a comprehensive viewpoint about how Public Governance should be assessed and worked-out, by making three contributions to the subject matter. Firstly, it provides the semantics by which this field of learning and practice may become operational in Political Science. Next, a four-tiered framework of analysis is laid bare, which deals with architecture, covenants and safeguards, collective action, and deviant behavior. Afterwards, and focusing on conflict systems, we give heed to the underlying logic of Public Governance, which stems from a network built up around the mechanisms of participation, contest and safeguarding.
    Keywords: governance, public governance, conflict systems, institutional safeguards
    JEL: H1 H11 D70 D73
    Date: 2005–08
  3. By: Calvo-Armengol, Antoni; Jackson, Matthew O.
    Keywords: labor markets, employment, unemployment, wages, wage inequality, drop-out rates
    Date: 2005–03
  4. By: Jackson, Matthew O.; Rogers, Brian W.
    Keywords: networks, small worlds, clustering, links, diameter
    Date: 2005–03

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