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Creating a Standards-Based Economics Principles Course
(Vanderbilt University, 2001)
America's adult population is economically illiterate. College economics instruction must shoulder some of the blame for this situation. Forty percent of all college graduates take an economics course. Over 95 percent of ...
Inflation Targeting in Canada: An Expected Loss Analysis in a DSGE Model with Trade Costs
(Vanderbilt University, 2008)
This paper develops an open economy DSGE model with an emphasis on trade costs to evaluate the performance of the Bank of Canada in the Canadian inflation targeting experience. For model parametrization, the New-Keynesian ...
An Analysis of Fiscal Policy with Endogenous Investment-Specific Technological Change
(Vanderbilt University, 2008)
The effects of distortional fiscal policies are studied within a model in which there is endogenous investment-specific technological change. Labor is used in the production of output and also for research purposes. Labor ...
A Revelation Principle for Dominant Strategy Implementation
(Vanderbilt University, 2008)
We introduce a perfect price discriminating (PPD) mechanism for allocation problems with private information. A PPD mechanism treats a seller, for example, as a perfect price discriminating monopolist who faces a price ...
Can You Earn a Ph.D. in Economics in Five Years?
(Vanderbilt University, 2008)
We investigate which of the students who entered economics Ph.D. programs in fall 2002 were more likely to earn a Ph.D. within five years, and which were more likely to have dropped out. Students enrolled in Top-15 ranked ...
Data Revisions, Gradualism, and US Inflation Pressure in Real Time
(Vanderbilt University, 2008)
Uncertainties associated with the informational content of real-time data and the impact of policy initiatives on expectations have been offered as rationales for gradualism in monetary policy. Our objective is to assess ...
What Are the Driving Forces of International Business Cycles?
(Vanderbilt University, 2008)
We examine the driving forces of G-7 business cycles. We decompose national business cycles into common and nation-specific components using a dynamic factor model. We also do this for driving variables found in business ...
Shared Destinies and the Measurement and of Social Risk Equity
(Vanderbilt University, 2008)
The evaluation of social risk equity for alternative probability distributions over the potential sets of fatalities is analyzed axiomatically. Fishburn and Straffin [Equity considerations in public risks valuation, ...
Competition over Standards and Taxes
(Vanderbilt University, 2008)
We show that, in competition between a developed country and a developing country over standards and taxes, the developing country may have a 'second mover advantage.' A key feature of standards is that, unlike public goods ...
Does Teaching Load Affect Faculty Size?
(Vanderbilt University, 2008)
Random effects estimates using panel data for 42 colleges and universities over 16 years reveal that the economics faculty size of universities offering a Ph.D. in economics is determined primarily by the long-run average ...