Now showing items 1-3 of 3

    • Coordination failures and slow recoveries in macroeconomics 

      Wong, Victor
      Coordination failures are one of the possible reasons why economies suffer during a recession and why they take long time to recover. This work studies a macroeconomic model with endogenous hazard rates that captures in a ...
    • Coordination failures in business cycles 

      Machado, Caio Henrique
      Coordination failures are often said to play an important role in business cycles. If agents’ incentives of taking a given action depend on the amount of other agents expected to take the same action, coordination failures ...
    • The effect of options on coordination 

      Guimarães, Bernardo de Vasconcellos; Araujo, Luis Fernando Oliveira de
      This paper studies how constraints on the timing of actions affect equilibrium in intertemporal coordination problems. The model exhibits a unique symmetric equilibrium in cut-o¤ strategies. The risk-dominant action of the ...