Working Papers: Recent submissions
Now showing items 161-180 of 319
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(Vanderbilt University, 2004)This paper uses a recursive time-non-separable expected utility function to separate between the intertemporal elasticity of substitution (IES) and a measure of relative risk aversion to bets in terms of money (RAM). Risk ...
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(Vanderbilt University, 2004)What is the prospect for migrating scholarly journals from paper to digital formats in a way that lowers university expenditures? Although many journals are published digitally, at least so far, the digital format complements ...
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(Vanderbilt University, 2004)Sections 8(a)(3) and 8(a)(5) of the National Labor Relations Act prohibit a firm from unilaterally increasing the wage it pays the union during the negotiation of a new wage contract. To understand this regulation, we study ...
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(Vanderbilt University, 2004)In this paper we compare the intra-household dispersion of children's education achievement in single female-parent households with two-parent households. We find significantly more dispersion across children in households' ...
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(Vanderbilt University, 2004)The release of Enovid in 1960, the first birth control pill, afforded U.S. women unprecedented freedom to plan childbearing and their careers. This paper uses plausibly exogenous variation in state consent laws to evaluate ...
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(Vanderbilt University, 2004)Head Start is a comprehensive, early childhood development program designed to augment the human capital and health capital levels of disadvantaged children. Grossman's (1972) health capital model suggests that early ...
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(Vanderbilt University, 2004)We test whether U.S. colleges and universities adjust their physical capital intensity to differences in factor prices by regressing the square feet of space per student on construction prices across institutions. The ...
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(Vanderbilt University, 2003)In this paper we examine the nexus between product markets and the legal system. We examine a model wherein oligopolists produce differentiated products that also have a safety attribute. Consumption of these products may ...
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(Vanderbilt University, 2003)This paper derives the asymptotic distribution of the nonparametric neural network estimator of the Lyapunov exponent in a noisy system. Positivity of the Lyapunov exponent is an operational definition of chaos. We introduce ...
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(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 ...
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(Vanderbilt University, 2003)This paper studies a bargaining model where n players play a sequence of (n-1) bilateral bargaining sessions. In each bilateral bargaining session, two players follow the same bargaining process as in Rubinstein's (1982). ...
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(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 ...
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(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 ...
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(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 ...
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(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 ...
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(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. ...
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(Vanderbilt University, 2003)Various theories make predictions about the relative advantages of individual loans versus joint liability loans. If we imagine that lenders facing moral hazard make relative performance comparisons in determining stringency ...
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(Vanderbilt University, 2003)We use large unpublished data set about the prices by store of 381 products collected by the Israeli bureau of statistics during 1991-92 in the process of computing the CPI. On average 24% of the stores changed their price ...
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(Vanderbilt University, 2003)This paper extends the diffusion index (DI) forecast approach of Stock and Watson (1998, 2002) to the case of possibly nonlinear dynamic factor models. When the number of series is large, a two-step procedure based on the ...
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(Vanderbilt University, 2003)This paper presents and examines a new algorithm for solving a score equation for the maximum likelihood estimate in certain problems of practical interest. The method circumvents the need to compute second order derivatives ...