Browsing Department of Economics by Title
Now showing items 81-100 of 328
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(Vanderbilt University, 2007)This paper studies a flexible price version of the Prescott (1975) hotels model. Unlike rigid price versions of the model, here the equilibrium outcome is efficient if potential buyers have the same downward sloping demand ...
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(Vanderbilt University, 2004)We propose a sieve maximum likelihood (ML) estimation procedure for a broad class of semiparametric multivariate distribution models. A joint distribution in this class is characterized by a parametric copula function ...
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(Vanderbilt University, 2002)For exchange economies with classical economic preferences, it is shown that any strategy-proof social choice function that selects Pareto optimal outcomes cannot guarantee everyone a consumption bundle bounded away from ...
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(Vanderbilt University, 2009)Empirical results obtained from the 2000 Census elderly migration data using a general gravity model of migration flows confirm earlier findings of the `same sign problem' in the literature, which means that the elderly ...
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(Vanderbilt University, 2000)Studies of early U.S. growth traditionally have emphasized real-sector explanations for an acceleration that by many accounts became detectable between 1815 and 1840. Interestingly, the establishment of the nation's basic ...
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(Vanderbilt University, 2002)This paper examines a model in which growth takes place through investment-specific technological change, which in turn is determined endogenously through research spending. In particular, the role of the degree of ...
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(Vanderbilt University, 2002)Provision of information on the environmental effects of consumption is often put forward as an appealing alternative to traditional means of environmental regulation such as permits and environmental taxes. When consumers ...
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(Vanderbilt University, 2011)In a North-South vertically differentiated duopoly, we derive equilibrium government policies towards parallel imports (PIs). By incorporating strategic interaction at the policy-setting stage and the product market, the ...
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(Vanderbilt University, 2004)Recently Chen and Fan (2003a) introduced a new class of semiparametric copula-based multivariate dynamic (SCOMDY) models. A SCOMDY model specifies the conditional mean and the conditional variance of a multivariate time ...
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(Vanderbilt University, 2002)In this paper, we develop a general approach for constructing simple tests for the correct density forecasts, or equivalently, for i.i.d. uniformity of appropriately transformed random variables. It is based on nesting a ...
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(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 ...
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(Vanderbilt University, 2011)Existing empirical evidence suggests that the effects of Vietnam veteran status on earnings in the decade-and-a-half following service may be concentrated in the lower tail of the earnings distribution. Motivated by this ...
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(Vanderbilt University, 2009)This paper investigates the relationship between the exchange rate pass-through (ERPT) and inflation by estimating a nonlinear time series model. Using a simple theoretical model of ERPT determination, we show that the ...
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(Vanderbilt University. Dept. of Economics, 2004-01)We consider a general equilibrium economy with public goods and externalities. Following Boyd and Conley (1997), we treat externality markets directly instead of indirectly through Arrovian commodities. Because such direct ...
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(Vanderbilt University, 2002)Wright (1990) presents evidence on the factor content of trade that indicates the United States tended to export goods that were raw materials intensive. Using factor per unit of output ratios derived from the United States ...
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(Vanderbilt University, 2002)"Most-favored-nation" (hereafter, MFN) clauses have been used in analyses of international trade, durable goods monopoly pricing, and franchise contracting to address a repeat player's time-inconsistency problem. Recent ...
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(Vanderbilt University, 2002)This paper examines the racial gap in infant mortality rates from 1920 to 1970. Using state-level panel data with information on income, urbanization, women's education, and physicians per capita, we can account for a large ...
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(Vanderbilt University, 2009)Investment of U.S. firms responds asymmetrically to Tobin's Q: Investment of established firms -- `intensive' investment -- reacts negatively to Q whereas investment of new firms -- `extensive' investment -- responds ...
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(Vanderbilt University, 2000)This paper develops a two country endogenous growth model with accumulation of both physical and human capital. We establish the existence of two country balanced growth equilibria in which physical and human capital grow ...
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(Vanderbilt University, 2000)This paper establishes a growth model where firms and residents in polluted areas bargain cooperatively to settle environmental concerns. While economic development affects the extent of the negotiation outcomes, the ...