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John Milton's Comus
(Blackwell Publishers, 2001)
The Economics of 'New Blood'
(Vanderbilt University, 2001)
A dynamic general equilibrium model of search and matching is constructed in which: (i) the stock of public knowledge grows through time and (ii) workers accumulate a fraction of this knowledge through education while ...
Skill Differentiation and Income Disparity in a Decentralized Matching Model of North-South Trade
(Vanderbilt University, 2001)
This paper develops a North-South trade model in which the South produces food and the North produces both food and a high-tech good. Food production is undertaken by unskilled workers while the high-tech product is made ...
Social Approval and Teenage Childbearing
(Vanderbilt University, 2001)
We examine the phenomenon of "pockets of teenage illegitimacy" in a model of social approval, where attitudes to such illegitimacy are endogenously determined at a local community level. Both a woman's actual well-being ...
Educational Policy in a Credit Constrained Economy with Skill Heterogeneity
(Vanderbilt University, 2001)
An overlapping-generations model where agents choose whether to become educated when young is presented. Education enhances productivity, but needs to be financed by borrowing. Because of the possibility of default, lenders ...
Bootstrapping GMM Estimators for Time Series
(Vanderbilt University, 2001)
This paper establishes that the bootstrap provides asymptotic refinements for the generalized method of moments estimator of overidentified linear models when autocorrelation structures of moment functions are unknown. ...
Anticipated Inflation, Real Disturbances and Money Demand: The Case if Chinese Hyperinflation, 1946-49
(Vanderbilt University, 2001)
This paper re-examines the dynamics of hyperinflation extending the standard Cagan framework. In our theoretical model, we allow the relative price of capital goods in units of consumption goods to vary in order to examine ...
Activation of a Modern Industry
(Vanderbilt University, 2001)
This paper constructs an integrated framework to disentangle the underlying economic mechanism of industrial transformation. We consider three essential elements for the analysis: skill requirements, industry wide spillovers ...
"Linguistic Distance" as a Determinant of Bilateral Trade
(Vanderbilt University, 2001)
We introduce a measure of language difficulty called "linguistic distance" into a modified gravity model to determine whether the fact that a language is further away from English affects the level of trade. Our sample of ...
The Political Economy of Race and the Adoption of Fair Employment Laws, 1940-1964
(Vanderbilt University, 2001)
This paper explores the political economy of anti-discrimination legislation during the ascendancy of the Civil Rights Movement. It traces the diffusion of state-level fair employment legislation and evaluates the relative ...