Working Papers: Recent submissions
Now showing items 141-160 of 319
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(Vanderbilt University, 2005)Trade restrictions impact factor and commodity prices in very predictable ways according to international trade theory. We use a new data set to explore the direct effect on the price of slaves that resulted from legislation ...
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(Vanderbilt University, 2005)We introduce a concept of status equilibrium for local public good economies. A status equilibrium specifies one status index for each agent in an economy. These indices determine agents' cost shares in any possible ...
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(Vanderbilt University, 2005)We examine the long-run effects of micro-credit on development in an occupational choice model very similar to Banerjee and Newman (JPE, 1993). Micro-credit is modeled as a pure improvement in the credit market that opens ...
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(Vanderbilt University, 2005)We examine the interplay of imperfect competition and incomplete information in the context of price competition among firms producing horizontally- and vertically-differentiated substitute products. We find that incomplete ...
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(Vanderbilt University, 2005)The problem of monetary policy delegation is formulated as a two-stage non-cooperative game between the government and the central bank. The solution to this policy game determines the optimal combination of central bank ...
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(Vanderbilt University, 2005)We consider the classic puzzle of why people turn out for elections in substantial numbers even though formal analysis strongly suggests that rational agents would not vote. If one assumes that voters do not make systematic ...
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(Vanderbilt University, 2005)This paper studies the evolution of European fiscal policies and the attempts at budgetary consolidation through three periods: the pre-Maastricht phase (to 1991); the run up to monetary union (1992-97), and finally the ...
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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, 2005)Serge Kolm's "epistemic counterfactual principle" says that a social choice only needs to be made from the actual feasible set of alternatives given the actual preference profile, but it must be justified by the choices ...
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(Vanderbilt University, 2005)Compare the cost per article for publication in commercial journals, not-profit journals, and open-access journals. For universities that support open-archives and open-access journal management software as part of standard ...
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(Vanderbilt University, 2005)This paper considers the test of a unit root in transitional autoregressive models. In particular, we develop the asymptotic theory of the inf-t test for the null hypothesis of a unit root in a wide class of nonlinear ...
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(Vanderbilt University, 2005)Treating games of incomplete information with countable sets of actions and types and finite but large player sets we demonstrate that for every mixed strategy profile there is a pure strategy profile that is 'epsilon-equivalent'. ...
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(Vanderbilt University, 2005)In the literature of psychology and economics it is frequently observed that individuals tend to conform in their behavior to the behavior of similar individuals. A fundamental question is whether the outcome of such ...
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(Vanderbilt University, 2005)Kalai (2002) demonstrates that in semi anonymous Bayesian games with sufficiently many players any Bayesian equilibrium is approximately ex-post Nash. In this paper we demonstrate that the existence of an approximate expost ...
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(Vanderbilt University, 2005)Diamond and Mirrlees have shown that public sector shadow prices should be set equal to the private producer prices in some circumstances even if taxes are not optimal when the public production technology is convex and ...
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(Vanderbilt University, 2004)We propose a methodology for constructing operational indices of inflation pressure, the monetary authority's effort to reduce this pressure, and the degree to which inflation pressure is alleviated. We begin with model ...
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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, 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, 2004)At the time when the Panama Canal was handed over to Panama, most people believed that the Canal was of little material worth to the United States. However, what was the value of this canal to the United States in the ...
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(Vanderbilt University, 2004)In this paper, we address two important issues in survival model selection for censored data generated by the Archimedean copula family; method of estimating the parametric copulas and data reuse. We demonstrate that for ...