Search
Now showing items 261-270 of 328
Is Forward-Looking Inflation Targeting Destabilizing? The Role of Policy's Response to Current Output under Endogenous Investment
(Vanderbilt University, 2007)
In sticky price models with endogenous investment, virtually all monetary policy rules that set a nominal interest rate in response solely to future inflation induce real indeterminacy of equilibrium. Applying the ...
Data Revisions, Gradualism, and US Inflation Pressure in Real Time
(Vanderbilt University, 2011)
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 ...
Are Financial Development and Corruption ControlSubstitutes in Promoting Growth?
(Vanderbilt University, 2007)
While financial development and corruption control have been studied extensively, their interaction has not. We develop a simple model in which low corruption and financial development both facilitate the undertaking of ...
Examining the Distributional Effects of Military Service on Earnings: A Test of Initial Dominance
(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 ...
A Unified Approach to Strategy-Proofness for Single-Peaked Preferences
(Vanderbilt University, 2011)
This article establishes versions of Moulin's [On strategy-proofness and single peakedness, Public Choice 35 (1980), 31-38] characterizations of various classes of strategy-proof social choice functions when the domain ...
Dominance Criteria for Critical-Level Generalized Utilitarianism
(Vanderbilt University, 2007)
Social welfare dominance criteria based on critical-level generalized utilitarian social welfare functions are investigated. An analogue of a generalized Lorenz curve called a generalized concentration curve is introduced. ...
A Subsidized Vickrey Auction for Cost Sharing
(Vanderbilt University, 2007)
We introduce a subsidized Vickrey auction for cost sharing problems. Although the average, marginal, and serial cost sharing mechanisms are budget-balanced, they are not allocatively efficient and they do not induce players ...
Perfect Equilibria in a Negotiation Model with Different Time Preferences
(Vanderbilt University, 2007)
The players behave quite differently in the negotiation model under different time preferences than under common time preferences. Conventional analysis in this literature relies on the key presumption that all continuation ...
The Impact of Changing Skill Levels on Optimal Nonlinear Income Taxes
(Vanderbilt University, 2007)
The impact of changing an individual's skill level on the solution to a finite population version of the Mirrlees optimal nonlinear income tax problem with quasilinear-in-leisure preferences is investigated. It is shown ...
Matriculation In Economics Us Ph.D. Programs: How Many Accepted Americans Do Not Enroll?
(Vanderbilt University, 2006)
Using a sample of 26 U.S. economics Ph.D. programs in Fall 2003, we estimate that only about 12 percent of the U.S. and Canadian students accepted for doctoral study did not enroll in any U.S. economics Ph.D. program in ...