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Now showing items 591-600 of 645
Financial Systems, Economic Growth, and Globalization
(Vanderbilt University, 2001)
This paper brings together two strands of the economic literature -- that on the finance-growth nexus and that on capital market integration -- and explores key issues surrounding each strand through both institutional/country ...
Inflation Income Redistribution and Optimal Central Bank Independence
(Vanderbilt University, 2001)
The problem of monetary policy delegation is formulated as a two-stage non-cooperative game between the government and the central bank. The solution to this policy game determines the optimal combination of central bank ...
Generalized Gini Indices of Equality of Opportunity
(Vanderbilt University, 2001)
This article considers the ranking of profiles of opportunity sets on the basis of their equality. A version of the Pigou-Dalton transfer principle that is appropriate for the measurement of opportunity inequality is ...
Mergers and Technological Change: 1885-1998
(Vanderbilt University, 2001)
We analyze mergers over the past century in a growth model that emphasizes technological change. We explain the positive relation between mergers and stock prices, the positive relation between internal growth of firms and ...
The Economics of Regional Economics Associations
(Vanderbilt University, 2001)
Membership and conference attendance trends of regional economics associations are reported and analyzed. Although membership and conference attendance grow steadily at the American Economic Association, both are stagnant ...
Memetics & Voting: How Nature May Make us Public Spirited
(Vanderbilt University, 2005)
We consider the classic puzzle of why people turn out for elections in substantial numbers even though formal analysis strongly suggests that rational agents would not vote. If one assumes that voters do not make systematic ...
Can Micro-Credit Bring Development?
(Vanderbilt University, 2005)
We examine the long-run effects of micro-credit on development in an occupational choice model very similar to Banerjee and Newman (JPE, 1993). Micro-credit is modeled as a pure improvement in the credit market that opens ...
Fiscal Discipline before and after EMU Permanent Weight Loss or Crash Diet?
(Vanderbilt University, 2005)
This paper studies the evolution of European fiscal policies and the attempts at budgetary consolidation through three periods: the pre-Maastricht phase (to 1991); the run up to monetary union (1992-97), and finally the ...
Behavioral Conformity in Games with Many Players
(Vanderbilt University, 2005)
In the literature of psychology and economics it is frequently observed that individuals tend to conform in their behavior to the behavior of similar individuals. A fundamental question is whether the outcome of such ...
Evaluating the Role of Brown vs. Board of Education in School Equalization, Desegregation, and the Income of African Americans
(Vanderbilt University, 2005)
In this paper we study the long-term labor market implications of school resource equalization before Brown and school desegregation after Brown. For cohorts born in the South in the 1920s and 1930s, we find that racial ...