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Multi-Agent Bilateral Bargaining with Endogenous Protocol
(Vanderbilt University, 2003)
Consider a multilateral bargaining problem where negotiation is conducted by a sequence of bilateral bargaining sessions. We are interested in an environment where bargaining protocols are determined endogenously. During ...
The Labor Market Effects of the 1960s Riots
(Vanderbilt University, 2003)
Between 1964 and 1971, hundreds of riots erupted in American cities, resulting in large numbers of injuries, deaths, and arrests, as well as in considerable property damage that was concentrated in predominantly black ...
Independent Monetary Policies and Social Equality
(Vanderbilt University, 2003)
The problem of monetary policy delegation is formulated as a two-stage game between the government and the central bank. In the first stage the government chooses the institutional design of the central bank. Monetary and ...
The Housing Market Impact of State-Level Anti-Discrimination Laws
(Vanderbilt University, 2003)
This paper measures the housing market impact of state-level anti-discrimination laws in the 1960s using household-level and census-tract data. State-level "fair-housing" laws attempted to bar discrimination on the basis ...
Merging Auction Houses
(Vanderbilt University, 2003)
In this paper, we study the incentives for market concentration of (online and traditional) auction houses. Would sellers and buyers be better off if two separate auction houses merged? We suppose that each auction house ...
Human Capital Allocation and Policy Intervention when there is Externality in Cities
(Vanderbilt University, 2003)
This paper studies the allocation of skilled and unskilled workers with different human capital levels between locations: city and rural area. In the city, activities are congregated thus there is externality in production. ...
The Economics of 'New Blood'
(Vanderbilt University, 2001)
A dynamic general equilibrium model of search and matching is constructed in which: (i) the stock of public knowledge grows through time and (ii) workers accumulate a fraction of this knowledge through education while ...
Skill Differentiation and Income Disparity in a Decentralized Matching Model of North-South Trade
(Vanderbilt University, 2001)
This paper develops a North-South trade model in which the South produces food and the North produces both food and a high-tech good. Food production is undertaken by unskilled workers while the high-tech product is made ...
Social Approval and Teenage Childbearing
(Vanderbilt University, 2001)
We examine the phenomenon of "pockets of teenage illegitimacy" in a model of social approval, where attitudes to such illegitimacy are endogenously determined at a local community level. Both a woman's actual well-being ...
Educational Policy in a Credit Constrained Economy with Skill Heterogeneity
(Vanderbilt University, 2001)
An overlapping-generations model where agents choose whether to become educated when young is presented. Education enhances productivity, but needs to be financed by borrowing. Because of the possibility of default, lenders ...