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Full-Text Articles in Economic History

Transmission Of Banking Crises Using A Proximity Based Learning Model, Steven Yee Apr 2016

Transmission Of Banking Crises Using A Proximity Based Learning Model, Steven Yee

Senior Theses and Projects

In financial markets, banks play a key role in transforming illiquid assets into more liquid assets. However, their ability to spread the risk of liquidity shocks over a body of agents generates a positive probability for non-efficient bank runs. Building off of the classic Diamond-Dybvig framework, this paper uses an agent based model to observe the two equilibria, efficient risk sharing and the bank run. While previous literature has looked at under what conditions could a bank run equilibrium occur, this proximity based learning model (PBLM) focuses on the development of a panic driven bank run in light of limited ...


United In Diversity? The Political Implications Of Intra- Eu Migration, Isabel Monteleone Apr 2016

United In Diversity? The Political Implications Of Intra- Eu Migration, Isabel Monteleone

Senior Theses and Projects

Intra-EU migration is a phenomenon innate to the structure of the European Union. A politico-economic union of twenty-eight countries, the EU does what no other alliance of countries has endeavored before, serving as a unique product of globalization and integration, in every sense of the word. Bound almost entirely by a common currency, the European Union is established in the belief that economic cooperation in Europe can be achieved through the principle of free movement, despite each member states’ individual way of life, language, and political, religious, and cultural ideology.

Since intra-EU migration allows for the possibility of EU integration ...