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Intergenerational Intermediation and Altruistic Preferences
(Vanderbilt University, 2011)
The paper analyzes the intermediation role of government under the assumption that it has an advantage over the private sector in collecting uncollateralized loan payments. It isshown that a government loan program may ...
Environmental Labelling and Consumers' Choice - An Empirical Analysis of the Effect of the Nordic Swan
(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 ...
Financial Collusion and Over-Lending
(Vanderbilt University, 2002)
We build a model consisting of a borrowing firm, a lending institution (bank), and a third party influencing loan decision-making (auditor/government regulator) where a low-type firm can bribe the auditor to file an ...
Finance Thy Growth: The Role of Occupational Choice by Ability-Heterogeneous Agents
(Vanderbilt University, 2002)
This paper develops an overlapping-generations model of finance and growth with intrinsic heterogeneity in loanable fund conversion ability, where agents make occupational choice between becoming entrepreneurs and becoming ...
Using Repayment Data to Test Across Models of Joint Liability Lending
(Vanderbilt University, 2002)
Spurred by its successful delivery of credit to poor borrowers in diverse areas of the developing world, joint liability lending has caught the imagination of development theorists and practitioners. Various theories have ...
Explaining United States International Trade, 1870-1910
(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 ...
Repeated Games with Asynchronous Moves
(Vanderbilt University, 2002)
This paper studies a class of dynamic games, called repeated games with asynchronous moves, where not all players may revise their actions in every period. With state-dependent backwards induction, we introduce the concept ...
Core Inflation and Inflation Targeting in a Developing Economy
(Vanderbilt University, 2002)
This paper is concerned with inflation targeting as a potential monetary policy objective in a developing economy. Using data from Nicaragua, it first studies the extent to which the Consumer Price Index (CPI) could be ...
Evaluating Density Forecasts via the Copula Approach
(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 ...
Arrovian Social Choice Theory on Economic Domains
(Vanderbilt University, 2002)
This article surveys the literature that investigates the consistency of Arrow's social choice axioms when his unrestricted domain assumptions are replaced by domain conditions that incorporate the restrictions on agendas ...