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Concept

Heterogeneity in economics

Publications associées (12)

Asset purchases, limited asset markets participation and inequality

Stylianos Tsiaras

This paper analyses the effects of quantitative easing (QE) on households' income and consumption inequality in the Euro Area. Using a SVAR with high frequency identification, I show that an identified QE shock is redistributive and expansionary. To ration ...

ELSEVIER2023

Optimization and equilibrium problems with discrete choice models

Stefano Bortolomiol

Many transportation markets are characterized by oligopolistic competition. In these markets customers, suppliers and regulators make decisions that are influenced by the preferences and the decisions of all other agents. In particular, capturing and under ...

EPFL2022

Stabilization of city-scale road traffic networks via macroscopic fundamental diagram-based model predictive perimeter control

Nikolaos Geroliminis, Isik Ilber Sirmatel

Traffic control for large-scale urban road networks remains a challenging problem. Aggregated dynamical models of city-scale traffic, based on the macroscopic fundamental diagram (MFD), enable development of model-based perimeter control methods. Involving ...

2021

A demand-based optimization approach to find market equilibria in oligopolies

Stefano Bortolomiol

Oligopolistic competition occurs often in transportation as well as in other markets due to reasons such as barriers to entry, limited capacity of the infrastructure and external regulations. In transport oligopolies, suppliers are profit maximizers and ta ...

2019

Essays on adaptation to rare disasters

Takafumi Usui

This thesis aims to further investigate rare natural disasters and studies adaptation decisions under uncertainty by solving several computational economic models. The modeling of rare natural disasters depends on the treatment of catastrophic outcomes wit ...

EPFL2019

Control of agent swarms in random environments

Guillaume Adrien Sartoretti

The collective dynamic behavior of large groups of interacting autonomous agents (swarms) have inspired much research in both fundamental and engineering sciences. It is now widely acknowledged that the intrinsic nonlinearities due to mutual interactions c ...

EPFL2016

Financial Frictions within the Macroeconomy : Policy Analysis from an Empirical and Theoretical Perspective

Victoria Nuguer

Financial factors are central to the recent economic crisis. Most macroeconomic models treat banks and financial intermediation as a veil. These models are unable to account for the recent financial crisis and they cannot be used for policy evaluation. Fin ...

EPFL2014

Estimation of bid functions for location choice and price modeling with a latent variable approach

Michel Bierlaire, Ricardo Daniel Hurtubia González

A new approach for the estimation of bid-rent functions for residential location choice is proposed. The method is based on the bid-auction approach and considers that the expected maximum bid of the auction is a latent variable that can be related to obse ...

Springer2014

Essays on asset pricing with preference heterogeneity

Giuliano Antonio Curatola

Investors' inheterogeneity is one of the prevailing features on financial markets. Thus, the recent asset pricing literature has produced a number of general equilibrium models where agents have different preferences. This thesis analyzes the effect of pre ...

EPFL2013

Financial Markets Equilibrium with Heterogeneous Agents

Semyon Malamud

This paper presents an equilibrium model in a pure exchange economy when investors have three possible sources of heterogeneity. Investors may differ in their beliefs, in their level of risk aversion, and in their time preference rate. The authors study th ...

Oxford University Press2012

Risky Mortgages in a DSGE Model

Luisa Lambertini, Chiara Forlati

This paper develops a DSGE model with housing, risky mortgages, and endogenous default. Housing investment is subject to idiosyncratic risk, and some mortgages are defaulted in equilibrium. An unanticipated increase in the standard deviation of housing inv ...

2011

Asset trading volume in infinite-horizon economies with dynamically complete markets and heterogeneous agents: Comment

In a recent paper, Judd et al. [2003. Journal of Finance 58, 2203-2217] study asset trading in a version of the standard Lucas infinite horizon economy with heterogeneous agents. They report the surprising finding that (for generic economies in their class ...

2006