Working Papers: Recent submissions
Now showing items 221-240 of 319
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(Vanderbilt University, 2001)When data contain errors, parameters of interest typically are not identified without imposing strong assumptions. However, in many cases, bounds on these parameters can be constructed under relatively weak assumptions. ...
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(Vanderbilt University, 2001)This paper describes conditions under which one investment project dominates a second project in terms of net present value, irrespective of the choice of the discount rate. The resulting partial ordering of projects has ...
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(Vanderbilt University, 2001)Using unpublished data contained in samples from the manuscripts of the 1870 and 1880 censuses of manufactures, we examine the extent and correlates of part-year manufacturing during the late nineteenth century. These data ...
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(Vanderbilt University, 2001)By the time Congress passed the 1964 Civil Rights Act, 98 percent of non-southern blacks (40 percent of all blacks) were already covered by state-level "fair employment" laws which prohibited labor market discrimination. ...
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(Vanderbilt University, 2001)America's adult population is economically illiterate. College economics instruction must shoulder some of the blame for this situation. Forty percent of all college graduates take an economics course. Over 95 percent of ...
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(Vanderbilt University, 2001)This paper re-examines the dynamics of hyperinflation extending the standard Cagan framework. In our theoretical model, we allow the relative price of capital goods in units of consumption goods to vary in order to examine ...
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(Vanderbilt University, 2001)This paper constructs an integrated framework to disentangle the underlying economic mechanism of industrial transformation. We consider three essential elements for the analysis: skill requirements, industry wide spillovers ...
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(Vanderbilt University, 2001)This paper explores the political economy of anti-discrimination legislation during the ascendancy of the Civil Rights Movement. It traces the diffusion of state-level fair employment legislation and evaluates the relative ...
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(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 ...
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(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 ...
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(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 ...
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(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 ...
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(Vanderbilt University, 2001)This paper establishes that the bootstrap provides asymptotic refinements for the generalized method of moments estimator of overidentified linear models when autocorrelation structures of moment functions are unknown. ...
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(Vanderbilt University, 2001)We introduce a measure of language difficulty called "linguistic distance" into a modified gravity model to determine whether the fact that a language is further away from English affects the level of trade. Our sample of ...
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(Vanderbilt University, 2001)In this paper, we explore whether heterogeneity among union members could threaten the stability of the EMU. The types of heterogeneity we consider are (1) asymmetries in the transmission of monetary and fiscal policies, ...
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(Vanderbilt University, 2001)Two aspects of corruption are examined theoretically: its effect on macroeconomic variables, and its determination from the political environment. Corruption is defined in an occupational choice model as the extra fees or ...
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(Vanderbilt University, 2001)This paper examines the impact of a stock of immigrants in the United States on American exports to their home country during the period 1870 to 1910. Our data set spans the exports of 44 commodities to 17 countries observed ...
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(Vanderbilt University, 2001)A model of firm-level optimal pricing under stochastic inflation and fixed costs of adjusting prices is solved and characterized. In this model, inflation alternates stochastically between some positive rate g and zero ...
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Unique Inefficient Perfect Equilibrium in a Stochastic Model of Bargaining with Complete Information (Vanderbilt University, 2001)We consider a two-player strategic bargaining model with discounting in which (i) the interim disagreement point in each period is stochastically determined at the beginning of the period, and (ii) the proposing player can ...
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(Vanderbilt University, 2001)In virtually all theoretical studies of inflation targeting, the announced inflation target is treated as being fully credible. However, inflation targeting policies have typically been implemented after protracted periods ...