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Now showing items 11-20 of 27
Human Capital Allocation and Policy Intervention when there is Externality in Cities
(Vanderbilt University, 2003)
This paper studies the allocation of skilled and unskilled workers with different human capital levels between locations: city and rural area. In the city, activities are congregated thus there is externality in production. ...
Maximization by Parts in Likelihood Inference
(Vanderbilt University, 2003)
This paper presents and examines a new algorithm for solving a score equation for the maximum likelihood estimate in certain problems of practical interest. The method circumvents the need to compute second order derivatives ...
Selection into and across Credit Contracts: Theory and Field Research
(Vanderbilt University, 2003)
Various theories make predictions about the relative advantages of individual loans versus joint liability loans. If we imagine that lenders facing moral hazard make relative performance comparisons in determining stringency ...
Tariffs and the Great Depression Revisited
(Vanderbilt University, 2003)
In this paper we revisit the issues addressed in Crucini and Kahn (1996) in the light of recent research on the Great Depression. In that paper we had argued that particular features of the Hawley-Smoot tariffs could have ...
The College Football Association Television Broadcase Cartel
(Vanderbilt University, 2003)
The College Football Association (CFA) sold rights to broadcast live games of its members from 1984 through 1995. It competed directly with the Big Ten and Pac Ten universities that sold an alternative broadcast package. ...
Thinking About Competitive Balance
(Vanderbilt University, 2003)
Simon Rottenberg long ago noted that the nature of sports is such that competitors must be of approximately equal ability if any are to be financially successful. In recent years, sports commentators and fans, Major League ...
Price Rigidity and Price Dispersion: Evidence from Micro Data
(Vanderbilt University, 2003)
We use large unpublished data set about the prices by store of 381 products collected by the Israeli bureau of statistics during 1991-92 in the process of computing the CPI. On average 24% of the stores changed their price ...
Secrecy and Safety
(Vanderbilt University, 2003)
We employ a simple two-period model to show that the use of confidential settlement as a strategy for a firm facing tort litigation leads to lower average product safety than that which would be produced if a firm were ...
Nonlinear Forecasting Analysis Using Diffusion Indexes: An Application to Japan
(Vanderbilt University, 2003)
This paper extends the diffusion index (DI) forecast approach of Stock and Watson (1998, 2002) to the case of possibly nonlinear dynamic factor models. When the number of series is large, a two-step procedure based on the ...
Where Do the Children Of Professors Attend College?
(Vanderbilt University, 2003)
To ask whether the best-informed consumers of higher education, the faculty, make different choices than other similarly endowed consumers, we compare the pattern of colleges chosen by 5,592 children of college and university ...