Working Papers: Recent submissions
Now showing items 201-220 of 319
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(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 ...
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(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 ...
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(Vanderbilt University, 2002)Many real business cycle models lack a significant propagation mechanism. Consequently most of the serial correlation in output is inherited from the serial correlation in the exogenous shocks. A simple model is presented ...
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(Vanderbilt University, 2002)We study the dynamics of good-by-good real exchange rates using a micro-panel of 270 goods prices drawn from major cities in 71 countries and 245 goods prices drawn from 13 major U.S. cities. We find half-lives of deviations ...
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(Vanderbilt University, 2002)Bribery, it has been argued, allocates resources efficiently. We show that this conclusion need not hold in a dynamic extension of a simple static model in which it does. When permits are awarded over time and applicants ...
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(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 ...
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(Vanderbilt University, 2002)"Most-favored-nation" (hereafter, MFN) clauses have been used in analyses of international trade, durable goods monopoly pricing, and franchise contracting to address a repeat player's time-inconsistency problem. Recent ...
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(Vanderbilt University, 2002)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, 2002)This article studies the impact of alternative institutional configurations on economic performance when there is strategic interaction between the government and the central bank. The interaction between the fiscal and ...
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(Vanderbilt University, 2002)Gravity model explanations of trade volumes frequently include dummy variables to account for the commonality of language among trading partners. In this paper we use a data set for the number of people in a country who ...
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(Vanderbilt University, 2002)This paper examines a model in which growth takes place through investment-specific technological change, which in turn is determined endogenously through research spending. In particular, the role of the degree of ...
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(Vanderbilt University, 2002)It has been claimed that the deviations from purchasing power parity are highly persistent and have quite long half-lives under the assumption of a linear adjustment of real exchange rates. However, inspired by trade cost ...
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(Vanderbilt University, 2002)For exchange economies with classical economic preferences, it is shown that any strategy-proof social choice function that selects Pareto optimal outcomes cannot guarantee everyone a consumption bundle bounded away from ...
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(Vanderbilt University, 2002)In this paper we examine intra-household gender differences and the incidence of child labor and children¬πs school attendance in Brazil to test whether the unitary model of household allocations is suitable in the child ...
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(Vanderbilt University, 2002)In this paper, we decompose the variance of logarithmic monthly earnings of prime age males into its permanent and transitory components, using a five-wave rotating panel from the Venezuelan "Encuesta de Hogares por Muestreo" ...
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(Vanderbilt University, 2002)This paper examines inter-generational persistence in child labor by developing a dynamic model and exploring its implications empirically in Brazil. We begin by building a simple overlapping generations model of the ...
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(Vanderbilt University, 2002)This paper examines the effects of birth order on the child labor incidence and school attendance of Brazilian children. Evidence from the psychology and sociology literature suggests that earlier-born children tend to ...
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(Vanderbilt University, 2002)In this paper, I examine the sources of wage inequality changes among prime age male workers in Brazil during the 1980's and 1990's. Inequality increased in the 1980's and decreased in the 1990's. I begin by decomposing ...
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(Vanderbilt University, 2002)This paper examines the racial gap in infant mortality rates from 1920 to 1970. Using state-level panel data with information on income, urbanization, women's education, and physicians per capita, we can account for a large ...
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(Vanderbilt University, 2002)The paper argues that multiple equilibria-whether non-stationary or stationary- are a generic property of dynamic rational expectations models. In light of this, this paper proposes a selection criterion for choosing between ...