A sudden capital outflow may lead to liquidity problems and hence cause output losses in emerging market economies. The existence of real effects of such capital outflows are questioned initially, using the narrative approach during the past four financial crises in Turkey during the 1989-1999 period. The paper also investigates the transmission channels of sudden capital outflows during 1990's. In particular, the transmission of the financial crises through the interest rate, the other asset prices and credit channels are ventured to identify by a VAR methodology. The results indicate that the financial crisis of January 1994 and Russian crisis had real output effects. The three transmission channels that we examine, namely the interest rate, credit and other asset prices channels, are all found to be effective.
This paper extends the Todd and Miller's (1999) mutual sequential mate search model with homogenous preferences to the case of non-homogenous preferences. Our simulations show that the size of heterogeneity in the preferences affects the performance rankings-as well as the absolute success levels-of the mate search heuristics in the model with respect to both mating likelihood and mating stability.
Abstract. This paper extends the Todd and Miller's (1999) mutual sequential mate search model with homogenous preferences to the case of non-homogenous preferences. Our simulations show that the size of heterogeneity in the preferences affects the performance rankings -as well as the absolute success levels-of the mate search heuristics in the model with respect to both mating likelihood and mating stability.
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