Manolis Galenianos

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This paper explores the nature of ‡uctuations in world bulk shipping by quantifying the impact of time-to-build and demand uncertainty on investment and prices. We examine the impact of both construction lags and their lengthening in periods of high investment activity, by constructing a dynamic model of ship entry and exit. A rich dataset of secondhand(More)
Job search and migration behavior of married couples differ markedly from that of singles, which suggests that marriage, migration and labor market decisions are interrelated. Interregional moves are associated with higher wages for married men, single men, and single women, but married women do not realize much wage growth through migration and, in fact,(More)
Original citation: Galenianos, Manolis and Kircher, Philipp (2008) A model of money with multilateral matching. LSE has developed LSE Research Online so that users may access research output of the School. Copyright © and Moral Rights for the papers on this site are retained by the individual authors and/or other copyright owners. Users may download and/or(More)
We study an over-the-counter (OTC) market with bilateral meetings and bargaining where the usefulness of assets, as means of payment or collateral, is limited by the threat of fraudulent practices. We assume that agents can produce fraudulent assets at a positive cost, which generates endogenous upper bounds on the quantity of each asset that can be sold,(More)
Allocation and exchange of discrete resources such as kidneys, school seats, and many other resources for which agents have single-unit demand is conducted via direct mechanisms without monetary transfers. Incentive compatibility and efficiency are primary concerns in designing such mechanisms. We construct the full class of group strategy-proof and Pareto(More)
T echnological change has led to a dramatic decline in the cost of communication and in the cost of coordinating activities performed in different locations. This has allowed firms in rich countries to fragment their production process and offshore an increasing share of the value chain to low-wage countries. (2006) refers to this phenomenon as the " second(More)
A search-theoretic model of the retail market for illegal drugs is developed. The model produces testable implications regarding the effect of interdiction and enforcement on: (a) the distribution of purity offered in equilibrium; and (b) the duration of the relationships between buyers and sellers. The model is consistent with evidence from the STRIDE and(More)
An equilibrium search model of the labor market is combined with a social network. The key features are that the workers' network transmits information about jobs and that wages and entry of firms are determined in equilibrium. In the baseline model workers are homogeneous and referrals are used to mitigate search frictions. When worker heterogeneity is(More)
We study the mechanisms through which the entry into the Euro delayed, rather than advanced, key economic reforms in the Euro zone periphery and led to the deterioration of important institutions in these countries. We show that the abandonment of the reform process and the institutional deterioration, in turn, not only reduced their growth prospects but(More)