Outputs (4)

Systemic risk and macroeconomic fat tails (2017)
Book Chapter
Bougheas, S., Harvey, D., & Kirman, A. (2018). Systemic risk and macroeconomic fat tails. In P. Commendatore, I. Kubin, S. Bougheas, A. Kirman, M. Kopel, & G. I. Bischi (Eds.), The economy as a complex spatial system (119-136). Cham: Springer. https://doi.org/10.1007/978-3-319-65627-4_6

We propose a mechanism for shock amplification that potentially can account for fat tails in the distribution of the growth rate of national output. We argue that extreme macroeconomic events, such as the Great Depression and the Great Recession, wer... Read More about Systemic risk and macroeconomic fat tails.

Do psychological fallacies influence trading in financial markets? Evidence from the foreign exchange market (2017)
Journal Article
Bleaney, M., Bougheas, S., & Zhiyong, L. (2017). Do psychological fallacies influence trading in financial markets? Evidence from the foreign exchange market. Journal of Behavioral Finance, 18(3), 344-357. https://doi.org/10.1080/15427560.2017.1331234

Research in both economics and psychology suggests that, when agents predict the next value of a random series, they frequently exhibit two types of biases, which are called the gambler’s fallacy (GF) and the hot hand fallacy (HHF). The gambler’s fal... Read More about Do psychological fallacies influence trading in financial markets? Evidence from the foreign exchange market.

Entrepreneurial migration in an integrated world (2017)
Journal Article
Bougheas, S., & Falvey, R. (2018). Entrepreneurial migration in an integrated world. Scandinavian Journal of Economics, 120(4), 1171-1201. https://doi.org/10.1111/sjoe.12249

A growing number of developed countries are offering entrepreneurial visas as a means of attracting entrepreneurial talent and capital. In this paper we use a simple two sector model of international trade with heterogeneous agents and financial fric... Read More about Entrepreneurial migration in an integrated world.

Product and labor market entry costs, underemployment and international trade (2017)
Book Chapter
Bougheas, S., & Riezman, R. (2017). Product and labor market entry costs, underemployment and international trade. In B. J. Christensen, & C. Kowalczyk (Eds.), Globalization: strategies and effects (19-45). Springer. https://doi.org/10.1007/978-3-662-49502-5_2

We develop a small, open economy, two-sector model with heterogeneous agents and endogenous participation in a labor matching market. There are two types of agents: workers and entrepreneurs. Both populations are heterogeneous. Workers are distinguis... Read More about Product and labor market entry costs, underemployment and international trade.