Working Papers for 2024 (back to top) | |
| #616 | "The Household Equipment Revolution" Effrosyni Adamopoulou, Jeremy Greenwood, Nezih Guner, PDF Version. |
| #615 | "‘You Will:’ A Macroeconomic Analysis of Digital Advertising" Jeremy Greenwood, Yueyuan Ma, and Mehmet Yorukoglu, PDF Version. |
Working Papers for 2023 (back to top) | |
| #614 | "Does the US Individual Income Tax Display Systemic Racism?" Robert P. Strauss and Miguel Gouveia, PDF Version. |
Working Papers for 2022 (back to top) | |
| #613 | "The Downward Spiral" Jeremy Greenwood, Nezih Guner, Karen A. Kopecky, PDF Version. |
| #612 | "Synergizing Ventures" Ufuk Akcigit, Emin Dinlersoz, Jeremy Greenwood, Veronika Penciakova, PDF Version. |
| #611 | "Substance Abuse during the Pandemic: Implications for Labor-Force Participation" Jeremy Greenwood, Nezih Guner, Karen Kopecky, PDF Version. |
Working Papers for 2021 (back to top) | |
| #610 | "Student Misconduct and Learning Outcomes, Evidence from Pennsylvania’s K-12 Building Records: 1999-2018," Robert P. Strauss, PDF Version. |
| #609 | "Financing Ventures," Jeremy Greenwood, Pengfei Han, and Juan M.Sanchez, PDF Version. |
| #608 | "The Great Transition: Kuznets Facts for Family-Economists," Jeremy Greenwood, Nezih Guner, and Ricardo Marto, PDF Version. |
| #607 | "Wealth, Financial Literacy and Behavioral Biases in Japan: the Effect of various Types of Financial Literacy," Shizuka Sekita, Vikas Kakkar, and Masao Ogaki, PDF Version. |
Working Papers for 2020 (back to top) | |
| #606 | "The Wife's Protector: A Quantitative Theory Linking Contraceptive Technology with the Decline in Marriage," Jeremy Greenwood, Nezih Guner, and Karen A. Kopecky, PDF Version. |
Working Papers for 2019 (back to top) | |
| #605 | "On the Axiomatics of Resource Allocation: Classifying Axioms and Mapping Out Promising Directions," William Thomson, PDF Version. |
Working Papers for 2018 (back to top) | |
| #604 | "Equal area rule to adjudicate conflicting claims," William Thomson, PDF Version. |
| #603 | "Labor-Market Wedge under Engel Curve Utility: Cyclical Substitution between Necessities and Luxuries," Yongsung Chang, Andreas Hornstein, and Marios Karabarbounis, PDF Version. |
Working Papers for 2017 (back to top) | |
| #602 | "Mining Surplus: Modeling James A. Schmitz's Link Between Competition and Productivity," Jeremy Greenwood and David Weiss, PDF Version. |
| #601 | "An Equilibrium Model of the African HIV/AIDS Epidemic," Jeremy Greenwood, Philipp Kircher, Cezar Santos, and Michèle Tertilt, PDF Version. |
| #600 | "Introducing Virtue Ethics into Normative Economics for Models with Endogenous Preferences," Vipul Bhatt, Masao Ogaki, and Yuichi Yaguchi, PDF Version. |
| #599 | "Optimal Taxation with Private Insurance," Yongsung Chang and Yena Park, PDF Version. |
| #598 | "Family Economics Writ Large," Jeremy Greenwood, Nezih Guner, and Guillaume Vandenbroucke, PDF Version. |
| #597 | "The Role of Marriage in Fighting HIV: A Quantitative Illustration for Malawi," Jeremy Greenwood, Philipp Kircher, Cezar Santos, and Michèle Tertilt, PDF Version. |
Working Papers for 2016 (back to top) | |
| #596 | "The Rise and Fall of Unions in the United States," Emin Dinlersoz, and Jeremy Greenwood, PDF Version. |
| #595 | "What Businesses Attract Unions? Unionization over the Life-Cycle of U.S. Establishments," Emin Dinlersoz, Jeremy Greenwood, and Henry Hyatt, PDF Version. |
| #594 | "Why Doesn't Technology Flow from Rich to Poor Countries?," Harold L. Cole, Jeremy Greenwood, and Juan M. Sanchez, PDF Version. |
Working Papers for 2015 (back to top) | |
| #593 | "Buy, Keep, or Sell: Economic Growth and the Market for Ideas," Akcigit, Ufuk, Murat Alp Celik, and Jeremy Greenwood, PDF Version. |
| #592 | "For claims problems, another compromise between the proportional and constrained equal awards rules," Thomson, William, PDF Version. |
| #591 | "Marry Your Like: Assortative Mating and Income Inequality," Greenwood, Jeremy, Nezih Guner, Georgi Kocharkov, and Cezar Santos, PDF Version. |
| #590 | "Pareto Weights in Practice: Income Inequality and Tax Reform," Chang, Bo Hyun, Yongsung Chang, and Sun-Bin Kim, PDF Version. |
| #589 | "Technology and the Changing Family: A Unified Model of Marriage, Divorce, Educational Attainment and Married Female Labor-Force Participation," Greenwood, Jeremy, Nezih Guner, Georgi Kocharkov, and Cezar Santos, PDF Version. |
Working Papers for 2014 (back to top) | |
| #588 | "Effects of the Great East Japan Earthquake on Subjective Well-Being," Ishino, Takuya, Akiko Kamesaka, Toshiya Murai, and Masao Ogaki, PDF Version. |
| #587 | "Merging and splitting endowments in object assignment problems," Bu, Nanyang, Siwei Chen, and William Thomson, PDF Version. |
| #586 | "Non-bossiness," Thomson, William, PDF Version. |
| #585 | "Constrained Efficiency in a Risky Human Capital Model," Park, Yena, PDF Version. |
| #584 | "Compromising between the proportional and constrained equal awards rules," Thomson, William, PDF Version. |
| #583 | "Individual and Aggregate Labor Supply in a Heterogeneous Agent Economy with Intensive and Extensive Margins," Chang, Yongsung, Sun-Bin Kim, Kyooho Kwon, and Richard Rogerson, PDF Version. |
| #582 | "Labor Market Uncertainty and Portfolio Choice Puzzles," Chang, Yongsung, Jay H. Hong, and Marios Karabarbounis, June 2014, PDF Version. |
| #581 | "Borrowing Constraints, College Aid, and Intergenerational Mobility," Hanushek, Eric, Leung, Charles Ka Yui and Kuzey Yilmaz, March 2014, PDF Version. |
| #580 | "Choice-theoretic Solutions for Strategic Form Games," Duggan, John, Michel Le Breton, March 2014, PDF Version. |
| #579 | "How Sticky Wages In Existing Jobs Can Affect Hiring," Bils, Mark, Yongsung Chang, Sun-Bin Kim, January 2014, PDF Version. |
Working Papers for 2013 (back to top) | |
| #578 | "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: an update," Thomson, William, August 2013, PDF Version. |
| #577 | "Granger Causality from Exchange Rates to Fundamentals: What Does the Bootstrap Test Show Us?," Ko, Hsiu-Hsin and Masao Ogaki, February 2013, PDF Version. |
Working Papers for 2012 (back to top) | |
| #576 | "On the Optimality of Exclusion in Multi-dimensional Screening," Barelli, Paulo, Suren Basov, Mauricio Bugarin and Ian King, December 2012, PDF Version. Original version #571 |
| #575 | "New variable-population paradoxes for resource allocation," Thomson, William, September 2012, PDF Version. |
| #574 | "Public Housing Units vs. Housing Vouchers: Accessibility, Local Public Goods, and Welfare," Leung, Charles Ka Yui, Sinan Sarpca and Kuzey Yilmaz, September 2012, PDF Version. |
| #573 | "On the axiomatics of resource allocation: Interpreting the consistency principle," Thomson, William, September 2012, PDF Version. |
| #572 | "Quantifying the Impact of Financial Development on Economic Development," Greenwood, Jeremy, Juan M. Sanchez and Cheng Wang, March 2012, PDF Version. |
| #571 | "The Robustness of Exclusion in Multi-dimensional Screening," Barelli, Paulo, Suren Basov, Mauricio Bugarin and Ian King, February 2012, PDF Version. |
| #570 | "Noisy Stochastic Games," Duggan, John, February 2012, PDF Version. Original version #562 |
Working Papers for 2011 (back to top) | |
| #569 | "From Shame to Game in One Hundred Years: A Macroeconomic Model of the Rise in Premarital Sex and its De-Stigmatization," Fernández-Villaverde, Jesús, Jeremy Greenwood, and Nezih Guner November 2011, PDF Version. |
| #568 | "Admissibility and Event-Rationality," Barelli, Paulo and Spyros Galanis, October 2011, PDF Version. |
| #567 | "Extremal Choice Equilibrium: Existence and Purification with Infinite-Dimensional Externalities," Barelli, Paulo and John Duggan, October 2011, PDF Version. |
| #566 | "Labor-Market Heterogeneity, Aggregation, and the Policy-(In)variance of DSGE Model Parameters," Chang, Yongsung, Sun-Bin Kim , and Frank Schorfheide , September 2011, PDF Version. |
| #565 | "Transition Dynamics in the Neoclassical Growth Model: The Case of South Korea," Chang, Yongsung and Andreas Hornstein, July 2011, PDF Version. |
| #564 | "Asymmetric Phase Shifts in the U.S. Industrial Production Cycles," Chang, Yongsung and Sunoong Hwang, July 2011, PDF Version. |
| #563 | "General Conditions for Existence of Maximal Elements via the Uncovered Set," Duggan, John, July 2011, PDF Version. |
| #562 | "Noisy Stochastic Games," Duggan, John, June 2011, PDF Version. Newer version #570 |
| #561 | "Measurement Without Theory: A Response to Bailey and Collins," Greenwood, Jeremy, Ananth Seshadri, and Guillaume Vandenbroucke, February 2011, PDF Version. |
| #560 | "Interpreting Labor Supply Regressions in a Model of Full and Part-Time Work," Chang, Yongsung, Sun-Bin Kim, Kyooho Kwon, and Richard Rogerson, February 2011, PDF Version. |
| #559 | "Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach," Greenwood, Jeremy and Karen A. Kopecky, January 2011, PDF Version. |
Working Papers for 2010 (back to top) | |
| #558 | "The Price of Egalitarianism," Chang, Yongsung and Sun-Bin Kim, October 2010, PDF Version. |
| #557 | " Keeping Your Options Open," Forand, Jean Guillaume, October 2010, PDF Version. |
| #556 | "Labor-Market Heterogeneity, Aggregation, and the Lucas Critique," Chang, Yongsung, Sun-Bin Kim, and Frank Schorfheide, September 2010, PDF Version. |
| #555 | "Borrowing-Proofness of the Lindahl Rule in Kolm Triangle Economies," Thomson, William, July 2010, PDF Version. |
Working Papers for 2009 (back to top) | |
| #554 | "Bargaining and the theory of Cooperative Games: John Nash and Beyond," Thomson, William, September 2009, PDF Version. |
| #553 | "Being a Graduate Student in Economics," Thomson, William, August 2009, PDF Version. |
| #552 | "Let Them Cheat!," Velez, Rodrigo and William Thomson, August 2009, PDF Version. |
| #551 | "Noncooperative Foundations of Stable Sets in Voting Games," Anesi, Vincent, May 2009, PDF Version. |
| #550 | "Social Change: The Sexual Revolution," Greenwood, Jeremy and Nezih Guner, May 2009, PDF Version. |
| #549 | "Bertrand Competition in Markets With Fixed Costs," Saporiti, Alejandro and German Coloma, May 2009, PDF Version. |
| #548 | "Accounting for Global Dispersion of Current Accounts," Chang, Yongsung, Sun-Bin Kim, and Jaewoo Lee, May 2009, PDF Version. |
| #547 | "Comparative Advantage and Unemployment," Bils, Mark, Yongsung Chang, and Sun-Bin Kim, May 2009, PDF Version. |
| #546 | "Family Violence and Football: The Effect of Unexpected Emotional Cues on Violent Behavior," Card, David and Gordon B. Dahl, October 2009, PDF Version. |
| #545 | "Borrowing-Proofness," Thomson, William, January 2009, PDF Version. |
Working Papers for 2008 (back to top) | |
| #544 | "Tough Love and Intergenerational Altruism," Bhatt, Vipul and Masao Ogaki, November 2008, PDF Version. |
| #543 | "Heterogeneity and Cyclical Unemployment," Bils, Mark, Yongsung Chang, and Sun-Bin Kim, October 2008, PDF Version. |
| #542 | "Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?," An, Sungbae, Yongsung Chang, and Sun-Bin Kim, September 2008, PDF Version. |
| #541 | "Bertrand's Price Competition in Markets With Fixed Costs," Saporiti, Alejandro and German Coloma, September 2008, PDF Version. |
Working Papers for 2007 (back to top) | |
| #540 | "Comparative Advantage in Cyclical Unemployment," Bils, Mark, Yongsung Chang, and Sun-Bin Kim, June 2007, PDF Version. |
| #539 | "Fair Allocation Rules," Thomson, William, December 2007, PDF Version. |
| #538 | "Lorenz Rankings of Rules for the Adjudication of Conflicting Claims," Thomson, William, December 2007, PDF Version. |
| #537 | "Cost Allocation and Airport Problems," Thomson, William, December 2007, PDF Version. |
| #536 | "On Properties of Division Rules Lifted by Bilateral Consistency," Hokari, Toru and William Thomson, December 2007, PDF Version. |
| #535 | "Two Families of Rules for the Adjudication of Conflicting Claims," Thomson, William, December 2007, PDF Version. |
| #534 | "Living With Risk," Epstein, Larry G., February 2007, PDF Version. |
| #533 | "An Axiomatic Model of 'Cold Feet'," Epstein, Larry G. and Igor Kopylov, January 2007, PDF Version. Original version #525 |
| #532 | "Globalization and Country-Specific Service Links," Golub, Stephen S., Ronald W. Jones, and Henryk Kierzkowski, January 2007, PDF Version. |
Working Papers for 2006 (back to top) | |
| #531 | "Operators for the Adjudication of Conflicting Claims," Thomson, William and Chun-Hsien Yeh, June 2006, PDF Version. |
| #530 | "A Characterization of a Family of Rules for the Adjudication of Conflicting Claims," Thomson, William, April 2006, PDF Version. |
| #529 | "The Two-Agent Claims-Truncated Proportional Rule Has No Consistent Extension: A Constructive Proof," Thomson, William, April 2006, PDF Version. |
| #528 | "On the Existence of Consistent Rules to Adjudicate Conflicting Claims: A Constructive Geometric Approach," Thomson, William, April 2006, PDF Version. |
| #527 | "Learning Under Ambiguity," Epstein, Larry G. and Martin Schneider, April 2006, PDF Version. Original version #497 |
| #526 | "Children Crying at Birthday Parties. Why? Fairness and Incentives for Cake Division," Thomson, William, April 2006, PDF Version. |
| #525 | "Cognitive Dissonance and Choice," Epstein, Larry G. and Igor Kopylov, March 2006, PDF Version. Newer version #533 |
| #524 | "Nash Equilibria in Quantum Games," Landsburg, Steven E., February 2006, PDF Version. |
Working Papers for 2005 (back to top) | |
| #523 | "The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations," Burstein, Ariel, Martin Eichenbaum, and Sergio Rebelo, December 2005, PDF Version. |
| #522 | "Real Business Cycle Models: Past, Present and Future," Rebelo, Sergio, December 2005, PDF Version. |
| #521 | "An Axiomatic Model of Non-Bayesian Updating," Epstein, Larry G., September 2005, PDF Version. Original version #498 |
| #520 | "Modern Business Cycle Analysis," Greenwood, Jeremy, July 2005, PDF Version. |
| #519 | "Ambiguity, Information Quality and Asset Pricing," Epstein, Larry G. and Martin Schneider, July 2005, PDF Version. |
| #518 | "Non-Bayesian Updating: A Theoretical Framework," Epstein, Larry G. and Jawwad Noor, July 2005, PDF Version. |
| #517 | "Looking Back: Marriage, Divorce and Out-of-Wedlock Births," Aiyagari, Rao S., Jeremy Greenwood, and Nezih Gunner, May 2005, PDF Version. |
| #516 | "Structural Spurious Regressions and a Hausman-Type Cointegration Test," Choi, Chi-Young, Ling Hu, and Masao Ogaki, April 2005, PDF Version. |
| #515 | "Coarse Contingencies," Epstein, Larry G. and Massimo Marinacci, April 2005, PDF Version. |
| #514 | "Modelling Exchange Rate Passthrough After Large Devaluations," Burstein, Ariel, Martin Eichenbaum, and Sergio Rebelo, March 2005, PDF Version. |
Working Papers for 2004 (back to top) | |
| #513 | "Large Devaluations and the Real Exchange Rate," Burstein, Ariel, Martin Eichenbaum, and Sergio Rebelo, November 2004, PDF Version. |
| #512 | "Convergence under Replication of Rules to Adjudicate Conflicting Claims," Chun, Youngsub and William Thomson, November 2004, PDF Version. |
| #511 | "A New Solution to the Problem of Adjudicating Conflicting Claims," Dominguez, Diego and William Thomson, November 2004, PDF Version. |
| #510 | "Divide-and-Permute," Thomson, William, November 2004, PDF Version. |
| #509 | "Detecting Mean Reversion in Real Exchange Rates from a Multiple Regime STAR Model," Bec, Frederique, Melika Ben Salem, and Marine Carrasco, September 2004, PDF Version. |
| #508 | "Chi-square Tests for Parameter Stability," Carrasco, Marine, September 2004, PDF Version. |
| #507 | "Ambiguity, Information Quality, and Asset Pricing," Epstein, Larry G. and Martin Schneider, May 2004, PDF Version. |
| #506 | "Engines of Liberation - Additional Notes," Greenwood, Jeremy and Ananth Seshadri, January 2004, PDF Version. |
Working Papers for 2003 (back to top) | |
| #505 | "Non-Bayesian Updating: A Theoretical Framework," Epstein, Larry G. and Alvaro Sandroni, December 2003, PDF Version. |
| #504 | "A Theory of Exchange Rates and the Term Structure of Interest Rates," Lim, Hyoung-Seok and Masao Ogaki, December 2003, PDF Version. |
| #503 | "Engines of Liberation," Greenwood, Jeremy, Ananth Seshadri, and Mehmet Yorukoglu, November 2003, PDF Version. |
| #502 | "Structural Error Correction Models : Instrumental Variables Methods and an Application to an Exchange Rate Model," Kim, Jaebeom, Masao Ogaki, and Minseok Young, October 2003, PDF Version. |
| #501 | "Government Finance in the Wake of Currency Crises," Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo, May 2003, PDF Version. |
| #500 | "Risk Taking by Entrepreneurs," Hopenhayn, Hugo A. and Galina Vereshchagina, April 2003, PDF Version. |
| #499 | "A Parsimonious Macroeconomic Model for Asset Pricing: Habit Formation or Cross-sectional Heterogeneity?," Guvenen, Fatih, February 2003, PDF Version. |
Working Papers for 2002 (back to top) | |
| #498 | "An Axiomatic Model of Non-Bayesian Updating," Epstein, Larry G., October 2002, PDF Version. Newer version #521 |
| #497 | "Learning Under Ambiguity," Epstein, Larry G. and Martin Schneider, October 2002, PDF Version. Newer version #527 |
| #496 | "IID : Independently and Indistinguishably Distributed," Epstein, Larry G. and Martin Schneider, October 2002, PDF Version. |
| #495 | "Pairwise Comparison Estimation of Censored Transformation Models," Khan, Shaken and Ely Tamer, October 2002, PDF Version. |
| #494 | "Individual Accountability in Teams," Marx, Leslie M. and Francesco Squinting, June 2002, PDF Version. |
| #493 | "Optimal Lending Contracts and Firm Dynamics," Albuquerque, Rue and Hugo Hopenhayn, June 2002, PDF Version. |
| #492 | "A Theory of Financing Constraints and Firm Dynamics," Clement, Gain Luca and Hugo Hopenhayn, June 2002, PDF Version. |
| #491 | "Reconciling Conflicting Evidence on the Elasticity of Intertemporal Substitution: A Macroeconomic Perspective," Guvenen, M. Fatih, May 2002, PDF Version. |
| #490 | "Does Stockholding Provide Perfect Risk Sharing?," Guvenen, M. Fatih, May 2002, PDF Version. |
| #489 | "More on Marriage, Fertility and the Distribution of Income," Greenwood, Jeremy, Nezih Gunner, and John A. Knowles, March 2002, PDF Version. |
| #488 | "Mobility and the Return to Education: Testing a Roy Model With Multiple Markets," Dahl, Gordon B., February 2002, PDF Version. |
| #487 | "The U.S. Demographic Transition," Greenwood, Jeremy and Ananth Seshadri, January 2002, PDF Version. |
| #486 | "Why Are Rates of Inflation So Low After Large Devaluations?," Burstein, Ariel, Martin Eichenbaum, and Sergio Rebelo, January 2002, PDF Version. |
Working Papers for 2001 (back to top) | |
| #485 | "Recursive Multiple-Priors," Epstein, Larry G. and Martin Schneider, August 2001, PDF Version. |
| #484 | "Backward Induction and Model Deterioration," Squintani, Francesco, May 2001, PDF Version. |
| #483 | "A Theoretical and Empirical Study of Individual Perceptions of the Criminal Justice System," Lochner, Lance, June 2001, PDF Version. |
| #482 | "On the Fiscal Implications of Twin Crises," Burnside, Craig, Martin Eichenbaum, and Sergio T. Rebelo, May 2001, PDF Version. |
| #481 | "Efficient Investment in Children," Aiyagari, S. Rao, Jeremy Greenwood, and Ananth Seshadri, May 2001, PDF Version. |
| #480 | "A Few Humble Observations on Overconfidence and Equilibrium," Squintani, Francesco, April 2001, PDF Version. |
| #479 | "Equilibrium Unemployment," Gomes, Joao, Jeremy Greenwood, and Sergio Rebelo, February 2001, PDF Version. |
| #478 | "Two-Person Dynamic Equilibrium Under Ambiguity," Epstein, Larry G. and Jianjun Miao, January 2001, PDF Version. |
| #477 | "Optimal Contracts under Generalized Verifiability Correspondences," Squintani, Francesco, January 2001, PDF Version. |
Working Papers for 2000 (back to top) | |
| #476 | "Signaling Quality by Delaying Sales," Squintani, Francesco, October 2000, PDF Version. |
| #475 | "Accounting for Growth," Greenwood, Jeremy and Boyan Jovanovic, July 2000, PDF Version. |
| #474 | "Ambiguity, Risk and Asset Returns in Continuous Time," Chen, Zengjing and Larry G. Epstein, July 2000, PDF Version. |
| #473 | "Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based-Stabilizations," Burstein, Ariel T., Joao C. Neves, and Sergio Rebelo, May 2000, PDF Version. |
| #472 | "Higher Education Subsidies and Heterogeneity A Dynamic Analysis," Caucutt, Elizabeth M. and Krishna B. Kumar, May 2000, PDF Version. |
| #471 | "Macroeconomic Impacts of the Korean Financial Crisis: Comparison With the Cross-country Patterns," Lee, Jong-Wha and Changyong Rhee, May 2000, PDF Version. |
| #470 | "Measuring the Degree of Currency Misalignment Using Offshore Forward Exchange Rates: The Case of the Korean Financial Crisis ," Park, Daekun and Changyong Rhee, May 2000, PDF Version. |
| #469 | "The Core of Large Differentiable TU-Games," Epstein, Larry G. and Massimo Marinacci, April 2000, PDF Version. |
| #468 | "On the Fundamentals of Self-Fulfilling Speculative Attacks," Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo, February 2000, PDF Version. |
| #467 | "Resuscitating Real Business Cycles," King, Robert G. and Sergio T. Rebelo, January 2000, PDF Version. |
| #466 | "Women on Welfare: A Macroeconomic Analysis," Greenwood, Jeremy, Nezih Guner, and John A. Knowles, January 2000, PDF Version. |
Working Papers for 1999 (back to top) | |
| #465 | "Education, Work, and Crime: Theory and Evidence," Lochner, Lance, October 1999, PDF Version. |
| #464 | "Are Probabilities Used in Markets?," Epstein, Larry G., August 1999, PDF Version. |
| #463 | "Bidding Rings in Repeated Auctions," Skrzypacz, Andrzej and Hugo Hopenhayn, July 1999, PDF Version. |
| #462 | "On the State of the Union," Aiyagari, S. Rao, Jeremy Greenwood, and Nezih Guner, June 1999, PDF Version. |
| #461 | "Hedging and Financial Fragility in Fixed Exchange Rate Regimes," Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo, May 1999, PDF Version. |
| #460 | "The IT Revolution and the Stock Market," Greenwood, Jeremy and Boyan Jovanovic, January 1999, PDF Version. |
| #459 | "The First Conferences on the Theory of Economic Growth," McKenzie, Lionel, January 1999, PDF Version. |
Working Papers for 1998 (back to top) | |
| #458 | "Prospective Deficits and the Asian Currency Crisis," Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo, November 1998, PDF Version. |
| #457 | "Measuring the Rate of Technological Progress in Structures," Gort, Michael, Jeremy Greenwood, and Peter Rupert, October 1998, PDF Version. |
| #456 | "Subjective Probabilities On Subjectively Unambiguous Events," Epstein, Larry G. and Jiankang Zhang, October 1998, PDF Version. |
| #455 | "Economies With Public Goods: An Elementary Geometric Exposition," Thomson, William, August 1998, PDF Version. |
| #454 | "On the Dynamics of Trade Reform," Albuquerque, Rui and Sergio Rebelo, July 1998, PDF Version. |
| #453 | "A Definition of Uncertainty Aversion," Epstein, Larry G., July 1998, PDF Version. |
| #452 | "A Revelation Principle for Competing Mechanisms," Epstein, Larry G. and Michael Peters, July 1998, PDF Version. |
| #451 | "Guidelines on Writing Referee Reports," Thomson, William, July 1998, PDF Version. |
| #450 | "Constrained Egalitarianism: A New Solution For Claims Problems," Chun, Youngsub, James Schummer, and William Thomson, July 1998, PDF Version. |
| #449 | "The Role of Investment-Specific Technological Change in the Business Cycle," Greenwood, Jeremy, Zvi Hercowitz, and Per Krusell, May 1998, PDF Version. |
| #448 | "Consistency and Its Converse: An Introduction," Thomson, William, February 1998, PDF Version. |
| #447 | "Turnpikes," McKenzie, Lionel W., January 1998, PDF Version. |
Working Papers for 1997 (back to top) | |
| #446 | "On the Axiomatic Method Part II: Its Scope and Recent Applications to Game Theory and Resource Allocation," Thomson, William, November 1997, PDF Version. |
| #445 | "On the Axiomatic Method Part I: A User's Guide," Thomson, William, November 1997, PDF Version. |
| #444 | "The Replacement Problem," Cooley, Thomas F., Jeremy Greenwood, and Mehmet Yorukoglu, August 1997, PDF Version. |
| #443 | "On the Determinants of Economic Growth," Rebelo, Sergio, August 1997, PDF Version. |
| #442 | "Semiparametric Efficient Estimation in Time Series," Hodgson, Douglas J., August 1997, PDF Version. |
| #441 | "What Happens When Countries Peg Their Exchange Rates? (The Real Side of Monetary Reforms)," Rebelo, Sergio, August 1997, PDF Version. |
| #440 | "The Bricks of an Empire 1415-1999: 585 Years of Portuguese Emigration," das Neves, Joao Cesar and Stanley L. Engerman, June 1997, PDF Version. |
| #439 | "Optimal Dynamic Lending Contracts With Imperfect Enforceability," Albuquerque, Rui and Hugo A. Hopenhayn, April 1997, PDF Version. |
| #438 | "Beyond Balanced Growth," Kongsamut, Piyabha, Sergio Rebelo, and Danyang Xie, April 1997, PDF Version. |
| #437 | "Skilled Labor-Augmenting Technical Progress in U.S. Manufacturing," Kahn, James A. and Jong-soo Lim, February 1997, PDF Version. |
Working Papers for 1996 (back to top) | |
| #436 | "Effects of the Federal Individual Income Tax on Marriage and Divorce Decisions," Clarke, George R. G. and Robert P. Strauss, November 1996, PDF Version. |
| #435 | "The Third Industrial Revolution," Greenwood, Jeremy, October 1996, PDF Version. |
| #434 | "Education, Political Instability, and Growth," Kahn, James A., October 1996, PDF Version. |
| #433 | "Finite Horizons, Political Economy, and Growth," Kahn, James A. and Jong-soo Lim, October 1996, PDF Version. |
| #432 | "Vertical Markets in International Trade," Jones, Ronald W., October 1996, PDF Version. |
| #431 | "Monotonic Extensions on Economic Domains," Thomson, William, September 1996, PDF Version. |
| #430 | "Aggregate Employment Fluctuations With Microeconomic Asymmetries," Campbell, Jeffrey R. and Jonas D.M. Fisher, September 1996, PDF Version. |
| #429 | "1974," Greenwood, Jeremy and Mehmet Yorukoglu, September 1996, PDF Version. |
| #428 | "What Inventory Behavior Tells Us About Business Cycles," Bills, Mark and James A. Kahn, September 1996, PDF Version. |
| #427 | "On the Optimality of Interest Rate Smoothing," Rebelo, Sergio and Danyang Xie, September 1996, PDF Version. |
| #426 | "A Strong Incompatibility Between Efficiency and Equity in Non-Convex Economies," Maniquet, Francois, August 1996, PDF Version. |
| #425 | "Technology for Sale," Beladi, Hamid, Ronald W. Jones, and Sugata Marjit, August 1996, PDF Version. |
| #424 | "Assessing the Effects of School Resources on Student Performance: An Update," Hanushek, Eric A., August 1996, PDF Version. |
| #423 | "Two Derivations of the Uniform Rule and an Application to Bankruptcy," Schummer, James and William Thomson, July 1996, PDF Version. |
| #422 | "Policy Variability and Economic Growth," Hopenhayn, Hugo and Maria E. Muniagurria, July 1996, PDF Version. |
| #421 | "Optimal Unemployment Insurance," Hopenhayn, Hugo and Juan Pablo, July 1996, PDF Version. |
| #420 | "Long-Run Implications of Investment Specific Technological Change," Greenwood, Jeremy, Zvi Hercowitz, and Per Krusell, June 1996, PDF Version. |
| #419 | "Co linearity and Two-step Estimation of Sample Selection Models: Problems, Origins, and Remedies," Leung, Suit Fai and Shifty Yu, June 1996, PDF Version. |
| #418 | "Consistent Allocation Rules," Thomson, William, June 1996, PDF Version. |
| #417 | "Writing Papers," Thomson, William, June 1996, PDF Version. |
| #416 | "Robust Semiparametric Estimation in the Presence of Heterogeneity of Unknown Form," Hodgson, Douglas J., April 1996, PDF Version. |
| #415 | "Macroeconomic Effects of Employment Reallocation," Campbell, Jeffrey R. and Kenneth N. Suttner, March 1996, PDF Version. |
| #414 | "Matching Human Capital and Displacement," Chari, V. V. and Hugo A. Hopenhayn, February 1996, PDF Version. |
Working Papers for 1995 (back to top) | |
| #413 | "Axiomatic Analyses of Bankruptcy and Taxation Problems: A Survey," Thomson, William, October 1995, PDF Version. |
| #412 | "Sectoral Solow Residuals," Burnside,, A. Craig, Martin S. Eichenbaum, and Sergio T. Rebelo, October 1995, PDF Version. |
| #411 | "Schooling, Labor Force Quality, and Economic Growth," Hanushek, Eric and Dogwood Kim, September 1995, PDF Version. |
| #410 | "Adaptive Estimation of Error Correction Models," Hodgson, Douglas J., September 1995, PDF Version. |
| #409 | "Adaptive Estimation of Cointegrated Models: Simulation Evidence and an Application to the Forward Exchange Market," Hodgson, Douglas J., September 1995, PDF Version. |
| #408 | "Adaptive Estimation of Cointegrating Regressions With ARMA Errors," Hodgson, Douglas J., September 1995, PDF Version. |
| #407 | "Entry, Exit, Technology, and Business Cycles," Campbell, Jeffrey R., September 1995, PDF Version. |
| #406 | "Financial Markets in Development, and the Development of Financial Markets," Greenwood, Jeremy and Bruce D. Smith, August 1995, PDF Version. |
| #405 | "Real Effects of Exchange-Rate-Based Stabilization: An Analysis of Competing Theories," Rebelo, Sergio and Carlos A. Végh, June 1995, PDF Version. |
| #404 | "Measuring Intertemporal Substitution: The Role of Durable Goods," Ogaki, Masao and Carmen M. Reinhart, May 1995, PDF Version. |
| #403 | "The Replacement Principle in Economies With Indivisible Goods," Thomson, William, May 1995, PDF Version. |
| #402 | "Capital Utilization and Returns to Scale," Burnside, Craig, Martin Eichenbaum, and Sergio T. Rebelo, May 1995, PDF Version. |
| #401 | "Fundamental Nonconvexities in Arrovian Markets and a Coasian Solution to the Problem of Externalities," Boyd III, John H. and John P. Conley, May 1995, PDF Version. |
| #400 | "Axiomatic Analysis of Resource Allocation," Moulin, Hervé and William Thomson, March 1995, PDF Version. |
| #399 | "Income and Wealth Heterogeneity in the Macoeconomy," Krusell, Per and Anthony A. Smith Jr., March 1995, PDF Version. |
| #398 | "The Competitive Equilibrium Turnpike II," McKenzie, Lionel W., March 1995, PDF Version. |
| #397 | "Aggregation and the Estimated Effects of School Resources," Hanushek, Eric A., Steven G. Rivkin, and Lori L. Taylor, February 1995, PDF Version. |
Working Papers for 1994 (back to top) | |
| #396 | "Concepts of Implementation," Thomson, William, December 1994, PDF Version. |
| #395 | "Equilibrium, Trade, and Capital Accumulation," McKenzie, Lionel W., December 1994, PDF Version. |
| #394 | "The Cyclical Behavior of Job Creation and Job Destruction: A Sectoral Model," Greenwood, Jeremy, Glenn M. MacDonald, and Guang-Jia Zhang, November 1994, PDF Version. |
| #393 | "The Competitive Equilibrium Turnpike," McKenzie, Lionel W., November 1994, PDF Version. |
| #392 | "The Existence of Steady States in Multisector Capital Accumulation Models With Recursive Preferences," Boyd III, John H., November 1994, PDF Version. |
| #391 | "Repairing the Safety Net: Is the EITC the Right Patch?," Bird, Edward J., October 1994, PDF Version. |
| #390 | "International Trade and Business Cycles," Baxter, Marianne, September 1994, PDF Version. |
| #389 | "Children as Income Producing Assets: The Case of Teen Illegitimacy and Government Transfers," Clarke, George R. G. and Robert P. Strauss, August 1994, PDF Version. |
| #388 | "Understanding the 20th Century Explosion in U.S. School Costs," Hanushek, Eric A. and Steven G. Rivkin, August 1994, PDF Version. |
| #387 | "Interdependent Preferences and Status in Consumption: Empirical Evidence," Bush, Clarence A., July 1994, PDF Version. |
| #386 | "Seemingly Unrelated Singular Systems of Equations," Bush, Clarence A., July 1994, PDF Version. |
| #385 | "Interdependent Preferences and Status: A Taxonomy of Demand," Bush, Clarence A., July 1994, PDF Version. |
| #384 | "Generalized Inverse Estimation of Partial Elasticities of Substitution: A Complete Demand System With Exclusion Restrictions and Autoregressive Errors," Bush, Clarence A., July 1994, PDF Version. |
| #383 | "Tariffs and Aggregate Economic Activity: Lessons from the Great Depression," Crucini, Mario J. and James Kahn, July 1994, PDF Version. |
| #382 | "Business Cycles in a Small Open Economy," Correia, Isabel, João C. Neves, and Sergio Rebelo, June 1994, PDF Version. |
| #381 | "Uncertain Lifetime and Saving," Leung, Sui Fai, June 1994, PDF Version. |
| #380 | "Cooperative Models in Bargaining," Thomson, William, May 1994, PDF Version. |
| #379 | "Real Exchange Rates and Nontradables," Kakkar, Vikas and Masao Ogaki, May 1994, PDF Version. |
| #378 | "Rethinking the Univariate Approach to Unit Root Testing: Using Covariates to Increase Power," Hansen, Bruce E., May 1994, PDF Version. |
| #377 | "On the Contribution of Human Capital to Growth: Theory, Identification, and Evidence," Kahn, James and Jong-Soo Lim, April 1994, PDF Version. |
| #376 | "Refinements of the No-Envy Solution in Economies With Indivisible Goods," Tadenuma, Koichi and William Thomson, April 1994, PDF Version. |
| #375 | "Population-Monotonic Allocation Rules," Thomson, William, March 1994, PDF Version. |
| #374 | "Policy, Technology Adoption and Growth," Easterly, William, Robert King, and Ross Levine, March 1994, PDF Version. |
| #373 | "The Endogenous Formation of a City: Population Agglomeration and Marketplaces in a Location-Specific Production Economy," Berliant, Marcus and Hideo Konishi, March 1994, PDF Version. |
| #372 | "Singularity Theory and Core Existence in the Spatial Model," Banks, Jeffrey R., March 1994, PDF Version. |
| #371 | "Effective Federal Individual Income Tax Functions: An Exploratory Empirical Analysis," Gouveia, Miguel and Robert P. Strauss, January 1994, PDF Version. |
Working Papers for 1993 (back to top) | |
| #370 | "On the Existence of Nonoptimal Equilibria," Greenwood, Jeremy and Gregory W. Huffman, December 1993, PDF Version. |
| #369 | "The Core and Competitive Equilibria in Finite Economies," McKenzie, Lionel W., December 1993, PDF Version. |
| #368 | "Technology Choice, Overtaking and Comparative Advantage," Ohyama, Michihiro and Ronald W. Jones, December 1993, PDF Version. |
| #367 | "Inter-Industry Mobility and the Cyclical Upgrading of Labor," Bils, Mark and Kenneth J. McLaughlin, December 1993, PDF Version. |
| #366 | "Dynamic Deterrence Theory," Leung, Siu Fai, November 1993, PDF Version. |
| #365 | "A New Regression Specification Error Test," Leung, Siu Fai and Shihti Yu, November 1993, PDF Version. |
| #364 | "Unit Roots in Macroeconometrics: A Survey," Ogaki, Masao, October 1993, PDF Version. |
| #363 | "The Rate of Time Preference, the Intertemporal Elasticity of Substitution, and the Level of Wealth," Ogaki, Masao and Andrew Atkeson, October 1993, PDF Version. |
| #362 | "Population-Monotonic Solutions in Public Good Economies With Single-Peaked Preferences," Ching, Stephen and William Thomson, October 1993, PDF Version. |
| #361 | "Short-Run Independence of Monetary Policy Under Pegged Exchange Rates and Effects of Money on Exchange Rates and Interest Rates," Stockman, Alan C. and Lee E. Ohanian, September 1993, PDF Version. |
| #360 | "Divide and Permute and the Implementation of Solutions to the Problem of Fair Division," Thomson, William, September 1993, PDF Version. |
| #359 | "Does R&D Contribute to Economic Growth in Developing Countries?," Birdsall, Nancy and Changyong Rhee, August 1993, PDF Version. |
| #358 | "Bankruptcy and Expected Utility Maximization," Dutta, Prajit K., August 1993, PDF Version. |
| #357 | "Optimal Management of an R&D Budget," Dutta, Prajit K., August 1993, PDF Version. |
| #356 | "Moral Hazard," Dutta, Prajit K. and Roy Radner, August 1993, PDF Version. |
| #355 | "On the Cyclical Allocation of Risk," Gomme, Paul and Jeremy Greenwood, August 1993, PDF Version. |
| #354 | "Who Chooses to Teach (and Why)?," Hanushek, Eric A. and Richard R. Pace, August 1993, PDF Version. |
| #353 | "Switching Costs and the Gittins Index," Banks, Jeffrey S. and Rangarajan K. Sundaram, July 1993, PDF Version. |
| #352 | "Long-Lived Principals, Short-Lived Agents," Banks, Jeffrey and Rangarajan K. Sundaram, July 1993, PDF Version. |
| #351 | "Games of Fair Division," Tadenuma, Koichi and William Thomson, July 1993, PDF Version. |
| #350 | "The International Diversification Puzzle is Worse Than You Think," Baxter, Marianne and Urban J. Jermann, May 1993, PDF Version. |
| #349 | "CCR: A User Guide," Ogaki, Masao, April 1993, PDF Version. |
| #348 | "GMM: A User Guide," Ogaki, Masao, April 1993, PDF Version. |
| #347 | "Household Production in Real Business Cycle Theory," Greenwood, Jeremy, Richard Rogerson, and Randall Wright, April 1993, PDF Version. |
| #346 | "Achieving a General Consumption Set in an Infinite Model of Competitive Equilibrium," McKenzie, Lionel W., March 1993, PDF Version. |
| #345 | "Dropping Out of School: Further Evidence on the Role of School Quality in Developing Countries," Hanushek, Eric A. and Victor, March 1993, PDF Version. |
| #344 | "Selection in Insurance Markets," Landsburg, Steven E., March 1993, PDF Version. |
| #343 | "The Methodology of Normative Economics," Landsburg, Steven E., March 1993, PDF Version. |
| #342 | "Are Consumer Durables Important For Business Cycles?," Baxter, Marianne, February 1993, PDF Version. |
| #341 | "The Replacement Principle in Private Good Economies With Single-Peaked Preferences," Thomson, William, January 1993, PDF Version. |
| #340 | "The Replacement Principle in Public Good Economies With Single-Peaked Preferences," Thomson, William, January 1993, PDF Version. |
Working Papers for 1992 (back to top) | |
| #339 | "Information Aggregation and Strategic Trading in Speculative Markets," Dutta, Prajit K. and Ananth Madhaven, December 1992, PDF Version. |
| #338 | "Price Continuity Rules and Insider Trading," Dutta, Prajit K. and Ananth Madhaven, December 1992, PDF Version. |
| #337 | "On the Choice Between Sample Selection and Two-Part Models," Leung, Sui Fai and Shihti Yu, December 1992, PDF Version. |
| #336 | "Financial Market Linkages and the International Transmission of Fiscal Policy," Baxter, Marianne, November 1992, PDF Version. |
| #335 | "Residual-Based Tests for Cointegration in Models With Regime Shifts," Gregory, Allan W. and Bruce E. Hansen, November 1992, PDF Version. |
| #334 | "Existence of Equilibrium With Nonconvexities and Finitely Many Agents," Berliant, Marcus and Kari Dunz, October 1992, PDF Version. |
| #333 | "Taxation, Financing, and Corporate Investment in Plant and Equipment: A Macro-Econometric Model of Corporate Real and Financial Decisions," Nadeau, Serge J. and Robert P. Strauss, October 1992, PDF Version. |
| #332 | "Risk Aversion and International Markets: Does Asset Trade Smooth Income?," Feeney, JoAnne and Ronald W. Jones, September 1992, PDF Version. |
| #331 | "Regression With Non-Stationary Variances," Hansen, Bruce E., September 1992, PDF Version. |
| #330 | "Cotrending and the Stationarity of the Real Interest Rate," Chapman, David A. and Masao Ogaki, September 1992, PDF Version. |
| #329 | "Consistent Extensions," Thomson, William, August 1992, PDF Version. |
| #328 | "Risk, Seasonality and School Attendance: Evidence from Rural India," Jacoby, Hanan and Emmanuel Skoufias, August 1992, PDF Version. |
| #327 | "The Design of Bank Loan Contracts, Collateral, and Renegotiation," Gorton, Gary and James Kahn, July 1992, PDF Version. |
| #326 | "Liquidity of Secondary Capital Markets: Allocative Efficiency and the Maturity Composition of the Capital Stock," Bencivenga, Valerie R., Bruce D. Smith, and Ross M. Starr, June 1992, PDF Version. |
| #325 | "Do Open Market Operations Matter? Theory and Evidence from the Second Bank of the United States," Highfield, Richard A., Maureen O'Hara, and Bruce Smith, June 1992, PDF Version. |
| #324 | "Four Econometric Fashions and the Kalman Filter Alternative," Bomhoff, Eduard J., June 1992, PDF Version. |
| #323 | "Uncertain Lifetime, the Theory of the Consumer, and the Life Cycle Hypothesis," Leung, Siu Fai, June 1992, PDF Version. |
| #322 | "Autoregressive Conditional Density Estimation," Hansen, Bruce E., June 1992, PDF Version. |
| #321 | "An Economic Analysis of the Age-Crime Profile," Leung, Siu Fai, April 1992, PDF Version. |
| #320 | "Uniform Tariffs in General Equilibrium--A Simple Model," Marjit, Sugata, April 1992, PDF Version. |
| #319 | "Self-financing Educational Investments: The Quality Imperative in Developing Countries," Hanushek, Eric A., João Batista Gomes-Neto, and Ralph W. Harbison, March 1992, PDF Version. |
| #318 | "Educational Wage Differentials in Korea," Kwark, Noh-Sun and Changyong Rhee, March 1992, PDF Version. |
| #317 | "Non-Cooperative, Cooperative and Delegative R&D," Marjit, Sugata and Marianne Baxter, March 1992, PDF Version. |
| #316 | "Business Cycles and the Asset Structure of Foreign Trade," Baxter, Marianne and Mario Crucini, March 1992, PDF Version. |
| #315 | "Testing for Heteroskedasticity," Pagan, A. R. and Y. Pak, February 1992, PDF Version. |
| #314 | "An Introduction to the Generalized Method of Moments," Ogaki, Masao, February 1992, PDF Version. |
| #313 | "Superior Technology and LDC Firms," Marjit, Sugata and Hamid Beladi, January 1992, PDF Version. |
| #312 | "International Trade Endogenous Production Structures," Jones, Ronald W. and Sugata Marjit, January 1992, PDF Version. |
| #311 | "Factor Scarcity, Factor Abundance and Attitudes Towards Protection: The 3 x 3 Model," Jones, Ronald W., January 1992, PDF Version. |
| #310 | "Foreign Capital and Protectionism," Beladi, Hamid and Sugata Marjit, January 1992, PDF Version. |
| #309 | "A Competitive General Equilibrium Model of Technology Transfer, Innovation and Obsolescence," Marjit, Sugata, January 1992, PDF Version. |
| #308 | "To Transfer or Not to Transfer the Best Technology Under Threat of Entry--The Case of Price Competition," Kabiraja, Tarun and Sugata Marjit, January 1992, PDF Version. |
| #307 | "Multinational Entry, Expropriation and Contract Compliance Under a Boycott Threat," Moitra, Bhaswar and Sugata Marjit, January 1992, PDF Version. |
| #306 | "Health and Schooling: Evidence and Policy Implications for Developing Countries," Gomes-Neto, João Batista, Eric A. Hanushek, and Raimundo Helio Leite, January 1992, PDF Version. |
Working Papers for 1991 (back to top) | |
| #305 | "Consumption, Income, and Cointegration: Further Analysis," Han, Hsiang-Ling and Masao Ogaki, December 1991, PDF Version. |
| #304 | "A Consistent Test for the Null of Stationarity Against the Alternative of a Unit Root," Kahn, Jame A. and Masao Ogaki, December 1991, PDF Version. |
| #303 | "Wealth-Varying Intertemporal Elasticities of Substitution: Evidence from Panel and Aggregate Data," Atkeson, Andrew and Masao Ogaki, November 1991, PDF Version. |
| #302 | "Population-Monotonic Solutions to the Problem of Fair Division When Preferences are Single-Peaked," Thomson, William, November 1991, PDF Version. |
| #301 | "Resource-Monotonic Solutions to the Problem of Fair Division When Preferences are Single-Peaked," Thomson, William, November 1991, PDF Version. |
| #300 | "Optimal Principal Agent Contracts for a Class of Incentive Schemes: A Characterization and the Rate of Approach to Efficiency," Dutta, Prajit K. and Roy Radner, November 1991, PDF Version. |
| #299 | "The Folk Theorem for Discounted Repeated Games: A New Condition," Abreu, Dilip and Prajit K. Dutta, November 1991, PDF Version. |
| #298 | "A Foundation of Location Theory: Existence of Equilibrium, the Welfare Theorems and Core," Berliant, Marcus and Karl Dunz, October 1991, PDF Version. |
| #297 | "State and Federal Tax Equity: Estimates Before and After the Tax Reform Act of 1986," Berliant, Marcus and Robert P. Strauss, October 1991, PDF Version. |
| #296 | "Inference When a Nuisance Parameter is Not Identified Under the Null Hypothesis," Hansen, Bruce E., September 1991, PDF Version. |
| #295 | "The Causes and Effects of Grade Repetition: Evidence from Brazil," Gomes-Neto, João Batista and Eric A. Hanushek, September 1991, PDF Version. |
| #294 | "Consistent Allocation Rules in Atomless Economies," Thomson, William and Lin Zhou, September 1991, PDF Version. |
| #293 | "A Folk Theorem for Stochastic Games," Dutta, Prajit K., August 1991, PDF Version. |
| #292 | "Currency Elasticity and Banking Panics: Theory and Evidence," Champ, Bruce, Bruce D. Smith, and Stephen D. Williamson, August 1991, PDF Version. |
| #291 | "Horizontal and Vertical Equity: A Theoretical Framework and Empirical Results for the Federal Individual Income Tax 1966-1987," Berliant, Marcus C. and Robert P. Strauss, August 1991, PDF Version. |
| #290 | "Intermediation and the Equilibrium Allocation of Investment Capital: Implications for Economic Development," Boyd, John H. and Bruce D. Smith, August 1991, PDF Version. |
| #289 | "The Equilibrium Allocation of Investment Capital in the Presence of Adverse Selection and Costly State Verification," Boyd, John H. and Bruce D. Smith, August 1991, PDF Version. |
| #288 | "On the Political Economy of Income Taxation," Berliant, Marcus and Miguel Gouveia, August 1991, PDF Version. |
| #287 | "Government Borrowing Using Bonds With Randomly Determined Returns: Welfare Improving Randomization in the Context of Deficit Finance," Smith, Bruce D. and Anne P. Villamil, July 1991, PDF Version. |
| #286 | "Finite Horizon Optimization: Sensitivity and Continuity in Multi-Sectoral Models," Dutta, Prajit, July 1991, PDF Version. |
| #285 | "A Time Series Analysis of Real Wages, Consumption, and Asset Returns Under Optimal Labor Contracting: A Cointegration-Euler Equation Approach," Cooley, Thomas F. and Masao Ogaki, June 1991, PDF Version. |
| #284 | "Borrowing Constraints and School Attendance: Theory and Evidence from a Low Income Country," Jacoby, Hanan, June 1991, PDF Version. |
| #283 | "Adverse Selection and Moral Hazard in a Repeated Elections Model," Banks, Jeffrey S. and Rangarajan K. Sundaram, June 1991, PDF Version. |
| #282 | "Fundamental Value and Investment: Micro Data Evidence," Rhee, Changyong and Wooheon Rhee, June 1991, PDF Version. |
| #281 | "Inference in Cointegrated Models Using VAR Prewhitening to Estimate Shortrun Dynamics," Park, Joon Y. and Masao Ogaki, June 1991, PDF Version. |
| #280 | "Seemingly Unrelated Canonical Cointegrating Regressions," Park, Joon Y. and Masao Ogaki, June 1991, PDF Version. |
| #279 | "The Likelihood Ratio Test Under Non-Standard Conditions: Testing the Markov Trend Model of GNP," Hansen, Bruce E., May 1991, PDF Version. |
| #278 | "Two Index Theorems for Bandit Problems," Banks, Jeffrey S. and Rangarajan K. Sundaram, May 1991, PDF Version. |
| #277 | "Denumerable-Armed Bandits," Banks, Jeffrey S. and Rangarajan K. Sundaram, May 1991, PDF Version. |
| #276 | "Financial Markets, Specialization, and Learning by Doing," Cooley, Thomas F. and Bruce D. Smith, May 1991, PDF Version. |
| #275 | "Swedish Business Cycles: 1861-1988," Englund, Peter, Torsten Persson, and Lars E.O. Svensson, April 1991, PDF Version. |
| #274 | "Currency Convertibility: When and How? A Contribution to the Bulgarian Debate," Bomhoff, Eduard J., April 1991, PDF Version. |
| #273 | "Stability of Velocity in the G-8 Countries: A Kalman Filter Approach," Bomhoff, Eduard J., April 1991, PDF Version. |
| #272 | "Collusion, Discounting and Dynamic Games," Dutta, Prajit K., April 1991, PDF Version. |
| #271 | "A Job Search Model of Efficiency Wage Theory," Park, Daekeun and Changyong Rhee, March 1991, PDF Version. |
| #270 | "Dynamic Insider Trading," Dutta, Prajit and Annath Madhavan, March 1991, PDF Version. |
| #269 | "On the Parametric Continuity of Dynamic Programming Problems," Dutta, Prajit, Mukul Majumdar, and Rangarajan Sundaram, March 1991, PDF Version. |
| #268 | "The Allocation of Capital and Time Over the Business Cycle," Greenwood, Jeremy and Zvi Hercowitz, February 1991, PDF Version. |
| #267 | "Maximizing or Minimizing Expected Returns Prior to Hitting Zero," Dutta, Prajit, February 1991, PDF Version. |
| #266 | "The Welfare Costs of Moderate Inflations," Cooley, Thomas F. and Gary D. Hansen, February 1991, PDF Version. |
| #265 | "Tax Distortions in a Neoclassical Monetary Economy," Cooley, Thomas F. and Gary D. Hansen, February 1991, PDF Version. |
| #264 | "What Do Discounted Optima Converge To? A Theory of Discount Rate Asymptotics in Economic Models," Dutta, Prajit, January 1991, PDF Version. |
| #263 | "A Theory of Stopping Time Games With Applications to Product Innovations and Asset Sales," Dutta, Prajit and Aldo Rustichini, January 1991, PDF Version. |
| #262 | "Innovation and Product Differentiation," Dutta, Prajit, Saul Lach, and Aldo Rustichini, January 1991, PDF Version. |
| #261 | "How to Make the Fine Fit the Corporate Crime? An Analysis of Static and Dynamic Optimal Punishment Theories," Leung, Sui Fai, January 1991, PDF Version. |
| #260 | "The Business Cycle With Nominal Contracts," Cho, Jang-Ok and Thomas F. Cooley, January 1991, PDF Version. |
| #259 | "(s,S) Equilibria in Stochastic Games With an Application to Product Innovations," Dutta, Prajit and Aldo Rustichini, January 1991, PDF Version. |
| #258 | "Limit Integration Theorems for Monotone Functions With Applications to Dynamic Programming," Dutta, Prajit and Mukul Majumdar, January 1991, PDF Version. |
Working Papers for 1990 (back to top) | |
| #257 | "The Fair Allocation of an Indivisible Good When Monetary Compensations are Possible," Tadenuma, Kiochi and William Thomson, December 1990, PDF Version. |
| #256 | "Are there Cultural Effects on Savings?: Cross Sectional Evidence," Rhee, Byung-Kun and Changyong Rhee, December 1990, PDF Version. |
| #255 | "Tastes and Technologies in a Two-Country Model of the Business Cycle: Explaining International Comovements," Stockman, Alan C. and Linda L. Tesar, November 1990, PDF Version. |
| #254 | "The Existence of Competitive Equilibrium Over an Infinite Horizon With Production and General Consumption Sets," Boyd, John H. and Lionel W. McKenzie, November 1990, PDF Version. |
| #253 | "Competitive Diffusion," Jovanovic, Boyan and Glenn M. MacDonald, October 1990, PDF Version. |
| #252 | "On the Fair Division of a Heterogeneous Commodity," Berliant, Marcus, Karl Dunz, and William Thomson, October 1990, PDF Version. |
| #251 | "A Theory of Optimal Denominations for Government Liabilities," Cooley, Thomas F. and Bruce D. Smith, October 1990, PDF Version. |
| #250 | "Fiscal Policy, Specialization, and Trade in the Two-Sector Model: The Return of Ricardo?," Baxter, Marianne, October 1990, PDF Version. |
| #249 | "Aggregation of Intratemporal Preferences Under Complete Markets," Ogaki, Masao, September 1990, PDF Version. |
| #248 | "Australian Stock Market Volatility: 1875-1987," Kearns, P. and A.R. Pagan, September 1990, PDF Version. |
| #247 | "Estimating Linear Quadratic Model With Integrated Processes," Gregory, Allan W., Adrian Pagan, and Gregor W. Smith, September 1990, PDF Version. |
| #246 | "On the Concept of Economic Freedom," Jones, Ronald W. and Alan C. Stockman, September 1990, PDF Version. |
| #245 | "Productive Externalities and Cyclical Volatility," Baxter, Marianne and Robert G. King, September 1990, PDF Version. |
| #244 | "Fiscal Policy in General Equilibrium," Baxter, Marianne and Robert G. King, September 1990, PDF Version. |
| #243 | "Indivisible Assets, Equilibrium, and the Value of Intermediary Output," Cooley, Thomas F. and Bruce D. Smith, September 1990, PDF Version. |
| #242 | "How Different Can Strategic Models Be? Non-Existence, Chaos and Underconsumption in Markov-Perfect Equilibria," Dutta, Prajit and Rangarajan K. Sundaram, September 1990, PDF Version. |
| #241 | "Stochastic Games of Resource Allocation: Existence Theorems for Discounted and Undiscounted models," Dutta, Prajit and Rangarajan K. Sundaram, September 1990, PDF Version. |
| #240 | "Engel's Law and Saving," Atkeson, Andrew and Masao Ogaki, September 1990, PDF Version. |
| #239 | "A Class of Bandit Problems Yielding Myopic Optimal Strategies," Banks, Jeffrey S. and Rangarajan K. Sundaram, September 1990, PDF Version. |
| #238 | "Debt, Asymmetric Information, and Bankruptcy," Kahn, James A., August 1990, PDF Version. |
| #237 | "The Life-Cycle of a Competitive Industry: Theory and Measurement," Jovanovic, Boyan and Glenn M. Macdonald, August 1990, PDF Version. |
| #236 | "A Specification Test for a Model of Engel's Law and Saving," Ogaki, Masao and Andrew Atkeson, July 1990, PDF Version. |
| #235 | "Incumbents, Challenges, and Bandits: Bayesian Learning in a Dynamic Choice Model," Banks, Jeffrey S. and Rangarajan K. Sundaram, July 1990, PDF Version. |
| #234 | "Incentive Compatible Income Taxation, Individual Revenue Requirements and Welfare," Berliant, Marcus and Miguel Gouveia, June 1990, PDF Version. |
| #233 | "The Stock Market, Profit and Investment," Blanchard, Oliver, Changyong Rhee, and Lawrence Summers, June 1990, PDF Version. |
| #232 | "Choosing the Lesser Evil-Self Immiserization as a Strategic Choice," Sugata, Margit and Kunal Sengupta, June 1990, PDF Version. |
| #231 | "Monotonic and Consistent Solutions to the Problem of Fair Allocation When Preferences are Single Peaked," Thomson, William, May 1990, PDF Version. |
| #230 | "A Powerful, Simple Test for Cointegration Using Cochrane-Orcutt," Hansen, Bruce E., May 1990, PDF Version. |
| #229 | "Rigid Wages," McLaughlin, Kenneth, May 1990, PDF Version. |
| #228 | "Engel's Law and Cointegration," Ogaki, Masao, April 1990, PDF Version. |
| #227 | "World Real Interest Rates," Barro, Robert and Xavier Sala-i-Martin, April 1990, PDF Version. |
| #226 | "Regression Theory when Variances are Non-Stationary," Hansen, Bruce E., April 1990, PDF Version. |
| #225 | "Public Policy and Economic Growth: Developing Neoclassical Implications," King, Robert G. and Sergio T. Rebelo, March 1990, PDF Version. |
| #224 | "Explaining Saving/ Investment Correlations," Baxter, Marianne and Mario J. Crucini, March 1990, PDF Version. |
| #223 | "The Seasonal and Cyclical Behavior of Inventories," Kahn, James A., February 1990, PDF Version. |
| #222 | "Interest Rate Rules and Nominal Determinacy," Boyd, John H. and Michael Dotsey, February 1990, PDF Version. |
| #221 | "The Stolper-Samuelson Theorem: Links to Dominant Diagonals," Jones, Ronald W., Sugata Marjit, and Tapan Mitra, February 1990, PDF Version. |
| #220 | "The Stolper-Samuelson Theorem, the Leamer Triangle, and the Produced Mobile Factor Structure," Jones, Ronald W. and Sugata Marjit, February 1990, PDF Version. |
| #219 | "Equal Sacrifice and Incentive Compatible Income Taxation," Berliant, Marcus and Miguel Gouveia, 1990, PDF Version. |
| #218 | "Sectoral Employment and Cyclical Fluctuations in an Adverse Selection Model," Smith, Bruce D., January 1990, PDF Version. |
| #217 | "Alonso's Discrete Population Model of Land Use: Efficient Allocations and Competitive Equiibria," Berliant, Marcus and Masahisa Fujita, January 1990, PDF Version. |
| #216 | "I'm Not a High Quality Firm--But I Play One on T.V: A Model of Signaling Product Quality," Hertzendorf, Mark N., January 1990, PDF Version. |
| #215 | "Two-Sided Uncertainty in the Monopoly Agenda Setter Model," Banks, Jeffrey S., January 1990, PDF Version. |
| #214 | "Deficits, Inflation, and the Banking System in Developing Countries: The Optimal Degree of Financial Repression," Bencivenga, Valerie R. and Bruce D. Smith, January 1990, PDF Version. |
Working Papers for 1989 (back to top) | |
| #213 | "General Properties of Equilibrium Behavior in a Class of Asymmetric Information Games," Banks, Jeffrey S., January 1989, PDF Version. |
| #212 | "A Chi-Square Test for a Unit Root," Kahn, James A. and Masao Ogaki, January 1990, PDF Version. |
| #211 | "Endogenous Formation of a City Without Externalities or Market Imperfections," Berliant, Marcus and Ping Wang, December 1989, PDF Version. |
| #210 | "Money and Business Cycles: A Real Business Cycle Interpretation," Plosser, Charles I., December 1989, PDF Version. |
| #209 | "A Cointegration Approach to Estimating Preference Parameters," Ogaki, Masao, December 1989, PDF Version. |
| #208 | "Intertemporal Asset-Pricing Relationships in Barter and Monetary Economies: An Empirical Analysis," Finn, Mary G., Dennis L. Hoffman, and Don E. Schlagenhauf, December 1989, PDF Version. |
| #207 | "Value and Capital in the Equilibrium Business Cycle Program," King, Robert G., December 1989, PDF Version. |
| #206 | "Transitional Dynamics and Economic Growth in the Neoclassical Model," King, Robert G. and Sergio T. Rebelo, November 1989, PDF Version. |
| #205 | "Low Frequency Filtering and Business Cycles," King, Robert G. and Sergio T. Rebelo, October 1989, PDF Version. |
| #204 | "Real Business Cycles and the Test of the Adelmans," King, Robert G. and Charles I. Plosser, October 1989, PDF Version. |
| #203 | "Multiple and Sunspot Equilibria Under Interest Rate and Money Supply Rules," Smith, Bruce D., October 1989, PDF Version. |
| #202 | "Adverse Selection in the Overlapping Generations Model," Azariadis, Costas and Bruce D. Smith, October 1989, PDF Version. |
| #201 | "Economic Growth in a Cross Section of Countries," Barro, Robert J., September 1989, PDF Version. |
| #200 | "Dynamic Inefficiency in an Economy With Land," Rhee, Changyong, August 1989, PDF Version. |
| #199 | "A Simple Estimator for Simultaneous Models With Censored Endogenous Regressors," Vella, Frank, August 1989, PDF Version. |
| #198 | "Understanding Real Business Cycles," Plosser, Charles I., August 1989, PDF Version. |
| #197 | "Full Insurance in Presence of Aggregate Uncertainty," Mace, Barabara, August 1989, PDF Version. |
| #196 | "Communication and Efficiency in Coordination Games," Banks, Jeffrey S. and Randall Calvert, August 1989, PDF Version. |
| #195 | "Trade and Protection in Vertically Related Markets," Jones, Ronald W. and Barabara J. Spencer, August 1989, PDF Version. |
| #194 | "Vertical Foreclosure and International Trade Policy," Jones, Ronald W. and Barabara J. Spencer, August 1989, PDF Version. |
| #193 | "Transversality Condition and Optimality in a Class of Infinite Horizon Continuous Time Economic Models," Leung, Sui Fai, August 1989, PDF Version. |
| #192 | "The Consistency Principle," Thomson, William, August 1989, PDF Version. |
| #191 | "Market Equilibria With Non-Profit Firms," Phelps, Charles E. and Itai Sened, June 1989, PDF Version. |
| #190 | "Entry and Exit in Perfect Competition: Part 1: Theory," Jovanovic, Boyan and Glenn M. Macdonald, June 1989, PDF Version. |
| #189 | "Bargaining Problems With Claims," Chun, Youngsub and William Thomson, June 1989, PDF Version. |
| #188 | "The Cyclical Behaviour of Prices," Cooley, Thomas F. and Lee E. Ohanian, May 1989, PDF Version. |
| #187 | "New Classicals and Keyneysians, or the Good Guys and the Bad Guys," Barro, Robert J., May 1989, PDF Version. |
| #186 | "Government Spending in a Simple Model of Endogenous Growth," Barro, Robert J., May 1989, PDF Version. |
| #185 | "The Stock Market and Investment," Barro, Robert J., May 1989, PDF Version. |
| #184 | "Intertemporal Substitution and Lambda-Constant Comparative Statics," McLaughlin, Kenneth J., April 1989, PDF Version. |
| #183 | "Repeated Games, Finite Automata, and Complexity," Banks, Jeffrey S. and Rangarajan K. Sundaram, April 1989, PDF Version. |
| #182 | "New Predictions from the Economics of Unionism," MacDonald, Glenn M. and Christopher Robinson, March 1989, PDF Version. |
| #181 | "Nonparametric Hazard Estimation With Time Varying Discrete Covariates," Leung, Sui Fai and Wing Hung Wong, March 1989, PDF Version. |
| #180 | "Migration Between Home Country and Diaspora: An Economic Analysis," Hercowitz, Zvi and David Pines, March 1989, PDF Version. |
| #179 | "Output Growth, The Real Wage, and Employment Fluctuations," Hercowitz, Zvi and Michael Sampson, March 1989, PDF Version. |
| #178 | "No-Envy, Consistency and Monotonicity in Economies With Indivisibility," Thomson, William and Koichi Tadenuma, March 1989, PDF Version. |
| #177 | "Cooperative Models of Bargaining," Thomson, William, February 1989, PDF Version. |
| #176 | "Real Expectations : A Harmony Theoretic Approach to Decision Making Under Uncertainty," El-Gamal, Mahmoud, February 1989, PDF Version. |
| #175 | "Credible Borrowing Constraints With Renegotiable Debt," Kahn, James A., February 1989, PDF Version. |
| #174 | "Testing for Contracting Effects on Employment," Bils, Mark , January 1989, PDF Version. |
| #173 | "Externalities and Asymmetric Information," Greenwood, Jeremy and R. Preston McAfee, January 1989, PDF Version. |
| #172 | "The Tragedy of the Commons? A Characterization of Stationary Perfect Equilibrium in Dynamic Games," Data, Prajit and Rangarajan K. Sundaram, January 1989, PDF Version. |
| #171 | "Rational Response to Unprecedented Policies: The 1979 Change in Federal Reserve Operating Procedures," Baxter, Marianne, January 1989, PDF Version. |
| #170 | "The Indirect and Direct Substitution Effects," Ogaki, Masao, December 1988, PDF Version. |
| #169 | "Business Cycles, Stylized Facts, and the Exchange Rate Regime: Evidence from the United States," Baxter, Marianne, December 1988, PDF Version. |
| #168 | "Why is Production More Volatile than Sales? Theory and Evidence on the Stockout-Avoidance Motive for Inventory-Holding," Kahn, James A., December 1988, PDF Version. |
Working Papers for 1988 (back to top) | |
| #170 | "The Indirect and Direct Substitution Effects," Ogaki, Masao, December 1988, PDF Version. |
| #169 | "Business Cycles, Stylized Facts, and the Exchange Rate Regime: Evidence from the United States," Baxter, Marianne, December 1988, PDF Version. |
| #168 | "Why is Production More Volatile than Sales? Theory and Evidence on the Stockout-Avoidance Motive for Inventory-Holding," Kahn, James A., December 1988, PDF Version. |
| #167 | "Dynamic Real Trade Models: New Directions for Open Economy Macroeconomics," Baxter, Marianne, December 1988, PDF Version. |
| #166 | "Multipliers in Equilibrium Business Cycle Models," Baxter, Marianne and Robert G. King, November 1988, PDF Version. |
| #165 | "The Positive Economics of Methodology (Revised 10/89)," Kahn, James A., Steven E. Landsburg, and Alan C. Stockman, November 1988, PDF Version. |
| #164 | "Tax Analysis in a Dynamic Stochastic Model: On Measuring Harberger Triangles and Okun Gaps," Greenwood, Jeremy and Gregory W. Huffman, November 1988, PDF Version. |
| #163 | "Efficiency Bound Calculations for a Time Series Model With Conditional Hereoskedasticity," Heaton, John C. and Masao Ogaki, November 1988, PDF Version. |
| #162 | "Diagnostic Tests for Models Based on Individual Data: A survey," Pagan, Adrian and Frank Vella, October 1988, PDF Version. |
| #161 | "Exchange Rates, the Current Account, and Monetary Policy," Stockman, Alan C., October 1988, PDF Version. |
| #160 | "Competitive Diffusion," Jovanovic, Boyan and Glenn M. Macdonald, September 1988, PDF Version. |
| #159 | "Some Consequences of Credit Rationing in an Endogenous Growth Model," Bencivenga, Valerie R. and Bruce D. Smith, September 1988, PDF Version. |
| #158 | "Symmetric Stochastic Games of Resource Extraction: The Existence of Non-Randomized Stationary Equilibrium," Mazumdar, Mukul K. and Rangarajan K. Sundaram, September 1988, PDF Version. |
| #157 | "A Test of the Harris Ergodicity of Stationary Dynamical Economic Models," Domowitz, Ian and Mahmoud El-Gamal, September 1988, PDF Version. |
| #156 | "Raw Materials, Processing Activities and Protectionism," Jones, Ronald W. and Barabara J. Spencer, September 1988, PDF Version. |
| #155 | "The Inflation Tax in a Real Business Cycle Model," Cooley, Thomas F. and Gary D. Hansen, August 1988, PDF Version. |
| #154 | "Savings, Investment and International Capital Flows," Tesar, Linda L., August 1988, PDF Version. |
| #153 | "Specialization, Transactions Technologies, and Money Growth," Cole, Harold and Alan C. Stockman, August 1988, PDF Version. |
| #152 | "Moral Hazard, Imperfect Risk Sharing, and the Behaviour of Asset Returns," Kahn, James A., August 1988, PDF Version. |
| #151 | "Asymptotic Likelihood Based Prediction Functions," Cooley, Thomas F. and William R. Parke, August 1988, PDF Version. |
| #150 | "A Business Cycle Model With Private Information," Smith, Bruce D., August 1988, PDF Version. |
| #149 | "A Model of Nominal Contracts," Smith, Bruce D., August 1988, PDF Version. |
| #148 | "The Ricardian Approach to Budget Deficits," Barro, Robert J., August 1988, PDF Version. |
| #147 | "Simple Methods of Estimation and Inference for Systems Characterized by Deterministic Chaos," El-Gamal, Mahmoud, August 1988, PDF Version. |
| #146 | "Appraising the Options for International Trade in Services," Jones, Ronald W. and Frances Ruane, July 1988, PDF Version. |
| #145 | "The Role of Services in Production And International Trade: A Theoretical Framework," Jones, Ronald W. and Henryk Kierzkowski, July 1988, PDF Version. |
| #144 | "Foreign Monopoly and Optimal Tariffs for the Small Open Economy," Jones, Ronald W. and Shumpei Takemori, July 1988, PDF Version. |
| #143 | "Wage Sensitivity Rankings and Temporal Convergence," Jones, Ronald W. and Peter Neary, July 1988, PDF Version. |
| #142 | "Co-Movements in Relative Commodity Prices and International Capital Flows: A Simple Model," Jones, Ronald W., July 1988, PDF Version. |
| #141 | "Rent Sharing in an Equilibrium Model of Matching and Turnover," McLaughlin, Kenneth J., June 1988, PDF Version. |
| #140 | "Business Cycles and the Exchange Rate System: Some International Evidence," Baxter, Marianne and Alan C. Stockman, June 1988, PDF Version. |
| #139 | "Approximating Suboptimal Dynamic Equilibria: An Euler Equation Approach," Baxter, Marianne, June 1988, PDF Version. |
| #138 | "Self-Fullfilling Expectations, Speculative Attacks and Capital Controls," Dellas, Harris and Alan C. Stockman, June 1988, PDF Version. |
| #137 | "Some Simulation Studies of Non-Parametric Estimators," Hong, Y. and Adrian Pagan, June 1988, PDF Version. |
| #136 | "Characterizing the Nash Bargaining Solution Without Pareto-Optimality," Terje, Lensberg and William Thomson, May 1988, PDF Version. |
| #135 | "Non-Parametric Estimation and the Risk Premium," Pagan, Adrian and Y. Hong, May 1988, PDF Version. |
| #134 | "Nash Solution and Uncertain Disagreement Points," Chun, Youngsub and William Thomson, May 1988, PDF Version. |
| #133 | "A Refinement and Extension of the No-Envy Concept," Diamantaras, Dimitrios and William Thomson, May 1988, PDF Version. |
| #132 | "Employment and Hours Over the Business Cycle," Cho, Jank-ok and Thomas F. Cooley, May 1988, PDF Version. |
| #131 | "Financial Development. Growth, and the Distribution of Income," Greenwood, Jeremy and Boyan Jovanovic, May 1988, PDF Version. |
| #130 | "Government Spending in a Simple Model of Endogenous Growth," Barro, Robert J., May 1988, PDF Version. |
| #129 | "Post-Sample Prediction Tests for Generalized Method of Moment Estimators," Stockman, Dennis and Adrian Pagan, April 1988, PDF Version. |
| #128 | "Real Exchange Rate Variability Under Pegged and Floating Nominal Exchange Rate Systems: An Equilibrium Theory," Stockman, Alan C., April 1988, PDF Version. |
| #127 | "Equilibrium Marketing Strategies: Is there Advertising, in Truth?," Horstmann, Ignatius J. and Glenn M. Macdonald, March 1988, PDF Version. |
| #126 | "What Can be Done With Bad School Performance Data?," Hanushek, Eric A. and Lori Taylor, March 1988. |
| #125 | "Unemployment, the Variability of Hours, and the Persistence of "Disturbances": A Private Information Approach," Smith, Bruce D., March 1988, PDF Version. |
| #124 | "Financial Intermediation and Endogenous Growth," Bencivenga, Valerie R. and Bruce D. Smith, March 1988, PDF Version. |
| #123 | "Capital Accumulation in the Theory of Long Run Growth," Romer, Paul M., March 1988, PDF Version. |
| #122 | "Bank Runs in Open Economies and the International Transmission of Panics," Garber, Peter M. and Vittorio U. Grilli, March 1988, PDF Version. |
| #121 | "Financial Deregulation, Monetary Policy, and Central Banking," King, Robert G. and Marvin Goodfriend, February 1988, PDF Version. |
| #120 | "International Financial Intermediation and Aggregate Fluctuations Under Alternative Exchange Rate regimes," Greenwood, Jeremy and Stephen D. Williamson, February 1988, PDF Version. |
| #119 | "Interest on Reserves and Sunspot Equilibria: Friedman's Proposal Reconsidered," Smith, Bruce D., February 1988, PDF Version. |
| #118 | "Adverse Selection, Aggregate Uncertainty, and the Role for Mutual Insurance Companies," Smith, Bruce D. and Michael J. Stutzer, February 1988, PDF Version. |
Working Papers for 1987 (back to top) | |
| #117 | "Monotonic Allocation Mechanisms In Economics With Public Goods," Thomson, William, December 1987, PDF Version. |
| #116 | "Monotonic Allocation Mechanisms," Thomson, William, December 1987, PDF Version. |
| #115 | "Bargaining Solutions and Stability of Groups," Chun, Youngsub and William Thomson, December 1987, PDF Version. |
| #114 | "Program Targeting Options and the Elderly," Hanushek, Eric A. and Roberton Williamson, December 1987, PDF Version. |
| #113 | "The Econometric Analysis of Models With Risk Terms," Pagan, Adrian and Aman Ullah, December 1987, PDF Version. |
| #112 | "Inflation and Stock Returns With Complete Markets," Cooley, Thomas F. and Jon Sonstelie, November 1987, PDF Version. |
| #111 | "Fiscal Policies and the Dollar/Pound Exchange Rate," Grilli, Vittorio U., November 1987, PDF Version. |
| #110 | "Microfoundations of Indivisible Labor," Grilli, Vittorio U. and Richard Rogerson, November 1987, PDF Version. |
| #109 | "Exchange Rate Variability and Asset Trade," Persson, Torsten and Lars E. O. Svensson, November 1987, PDF Version. |
| #108 | "Social Contracts as Assets: A Possible Solution to the Time-Consistency Problem," Ktlikoff, Laurence J., Torsten Persson, and Lars E.O. Svensson, November 1987, PDF Version. |
| #107 | "Credibility of Macroeconomic Policy," Persson, Torsten, November 1987, PDF Version. |
| #106 | "Predictive Efficiency for Simple Nonlinear Models," Cooley, Thomas F., William R. Parke, and Siddhartha Chib, October 1987, PDF Version. |
| #105 | "Recurrent Advertising," Horstmann, Ignatius J. and Glenn M. Macdonald, October 1987, PDF Version. |
| #104 | "On the Inconsistency of the MLE in Certain Heteroskedastic Regression Models," Pagan, Adrian and H. Sabau, October 1987, PDF Version. |
| #103 | "The Quit-Layoff Distinction in a Joint Wealth Maximizing Approach to Labor Turnover," McLaughlin, Kenneth J., October 1987, PDF Version. |
| #102 | "Legal Restrictions, "Sunspots", and Cycles," Smith, Bruce D., October 1987, PDF Version. |
| #101 | "Bank Panics, Suspensions, and Geography: Some Notes on the "Contagion of Fear" in Banking," Smith, Bruce D., October 1987, PDF Version. |
| #100 | "Money and Inflation in the American Colonies: Further Evidence on the Failure of the Quantity Theory," Smith, Bruce D., October 1987, PDF Version. |
| #99 | "Axioms Concerning Uncertain Disagreement Points for Two-Person Bargaining Problems," Chun, Youngsub, September 1987, PDF Version. |
| #98 | "Supply and Equilibrium in an Economy With Land and Production," Berliant, Marcus and Hou-Wen Jeng, September 1987, PDF Version. |
| #97 | "The Trade-off Between Child Quantity and Quality: Some Empirical Evidence," Hanushek, Eric A., September 1987, PDF Version. |
| #96 | "Endogenous Financial Structure in an Economy With Private Information," Kahn, James A., August 1987, PDF Version. |
| #95 | "On Welfare Theory and Urban Economics," Berliant, Marcus, Yorgos Y. Papageoriou, and Ping Wang, August 1987, PDF Version. |
| #94 | "Twenty Years After: Econometrics , 1966-1986," Pagan, Adrian, August 1987, PDF Version. |
| #93 | "On Modelling the Natural Rate of Unemployment With Indivisible Labor," Greenwood, Jeremy and Gregory W. Huffman, July 1987, PDF Version. |
| #92 | "Aspects of Tournament Models," McLaughlin, Kenneth J., July 1987, PDF Version. |
| #91 | "Do Wages Vary In Cities? An Empirical Study of Urban Labor Markets," Hanushek, Eric A., June 1987, PDF Version. |
| #90 | "Empirical Examinations of the Information Sets of Economic Agents," Gottfries, Nils and Torsten Persson, June 1987, PDF Version. |
| #89 | "Rational Expectations Models With Censored Variables," Baxter, Marianne, June 1987, PDF Version. |
| #88 | "Trade in Risky Assets," Svensson, Lars E. O., May 1987, PDF Version. |
| #87 | "Can Everyone Benefit from Growth? Three Difficulties," Moulin, Herve and William Thomson, May 1987, PDF Version. |
| #86 | "The Cyclicality of Labor Turnover: A Joint Wealth Maximizing Hypothesis," McLaughlin, Kenneth J., May 1987, PDF Version. |
| #85 | "Rent Sharing and Turnover in a Model With Efficiency Units of Human Capital," McLaughlin, Kenneth J., May 1987, PDF Version. |
| #84 | "Equilibrium in Cooperative Games of Policy Formulation," Cooley, Thomas F. and Bruce D. Smith, May 1987, PDF Version. |
| #83 | "Cyclical Pricing of Durable Luxuries," Bils, Mark, May 1987, PDF Version. |
| #82 | "Interest Rate Smoothing," Barro, Robert J., May 1987, PDF Version. |
| #81 | "The Equilibrium Approach to Exchange Rates," Stockman, Alan C., April 1987, PDF Version. |
| #80 | "Interest Rate Smoothing and Price Level Trend Stationarity," Goodfriend, Marvin, April 1987, PDF Version. |
| #79 | "Stochastic Trends and Economic Fluctuations," King, Robert, Charles I. Plosser, and James Stock, April 1987, PDF Version. |
| #78 | "The Economics of Rising Stars," McDonald, Glenn M., April 1987, PDF Version. |
| #77 | "Bargaining Problems With Uncertain Disagreement Points," Chun, Youngsub and William Thomson, April 1987, PDF Version. |
| #76 | "Notions With Equal Opportunities," Thomson, William, April 1987, PDF Version. |
| #75 | "The Product-Cycle Hypothesis and the Heckscher-Ohlin-Samuelson Theory of International Trade," Margit, Sugata, April 1987, PDF Version. |
| #74 | "Social Security, Liquidity, and Early Retirement," Kahn, James A., March 1987, PDF Version. |
| #73 | "The Quit-Layoff Distinction: Growth Effects," McLaughlin, Kenneth J., February 1987, PDF Version. |
| #72 | "On the Continuum Approach of Spatial and Some Local Public Goods or Product Differentiation Models," Berliant, Marcus and Thijs ten Raa, January 1987, PDF Version. |
| #71 | "Why a Stubborn Conservative Would Run a Deficit: Policy With Time Consistent Preferences," Persson, Torsten and Lars E. O. Svensson, January 1987, PDF Version. |
Working Papers for 1986 (back to top) | |
| #70 | "Growth Based on Increasing Returns Due to Specialization," Romer, Paul M., January 1986, PDF Version. |
| #69 | "Money and Market Incompleteness in Overlapping Generations Models," Baxter, Marianne, January 1987, PDF Version. |
| #68 | "Recursive Utility and Optimal Capital Accumulation, I: Existence," Becker, Robert A., John H. Boyd, and Bom Yong Sung, January 1987, PDF Version. |
| #67 | "Inventories and the Volatility of Production," Kahn, James A., December 1986, PDF Version. |
| #66 | "Further Evidence on the Relation Between Fiscal Policy and the Term Structure," Plosser, Charles I., December 1986, PDF Version. |
| #65 | "The Quit-Layoff Distinction: Empirical Regularities," McLaughlin, Kenneth J., December 1986, PDF Version. |
| #64 | "Increasing Returns, Speciaization and External Economies: Growth as Described by Allyn Young," Romer, Paul M., December 1986, PDF Version. |
| #63 | "A Note on Income Taxation and the Core," Berliant, Marcus, December 1986, PDF Version. |
| #62 | "Symmetries, Equilibria, and the Value Function," Boyd, John H., December 1986, PDF Version. |
| #61 | "Who Leaves Whom in Durable Trading Matches," McLaughlin, Kenneth J., October 1986, PDF Version. |
| #60 | "Recursive Utility and the Ramsey Problem," Boyd, John H., October 1986, PDF Version. |
| #59 | "Information Production, Evaluation Risk, and Optimal Contracts," Hargraves, Monica and Paul M. Romer, September 1986, PDF Version. |
| #58 | "On the Nature of Unempoyment in Economies With Efficiency Risk Sharing," Rogerson, Richard and Randall Wright, September 1986, PDF Version. |
| #57 | "Time Consistency of Fiscal and Monetary Policy," Persson, Mats, Torsten Persson, and Lars E.O. Svensson, September 1986, PDF Version. |
| #56 | "Indivisible Labor, Experience, and Intertemporal Allocations," Grilli, Vittorio U. and Richard Rogerson, September 1986, PDF Version. |
| #55 | "Nonlabor Supply Responses to the Income Maintenance Experiments," Hanushek, Eric A., August 1986, PDF Version. |
| #54 | "The Welfare Theorems and Economies With Land and a Finite Number of Traders," Berliant, Marcus and Karl Dunz, July 1986, PDF Version. |
| #53 | "The Tulipmania Legend," Garber, Peter M., July 1986, PDF Version. |
| #52 | "Secrecy, Speculation, and Policy (Revised)," King, Robert G., August 1986, PDF Version. |
| #51 | "Job Mobility in Market Equilibrium," MacDonald, Glenn M., August 1986, PDF Version. |
| #50 | "Nominal Surprises, Real Factors and Propagation Mechanisms," King, Robert G. and Charles I. Plosser, July 1986, PDF Version. |
| #49 | "Money and Business Cycles: Comments on Bernanke and Related Literature," King, Robert G., July 1986, PDF Version. |
| #48 | "Exchange Rate a Policy, Wage Formation, and Credibility," Horn, Henrik and Torsten Persson, June 1986, PDF Version. |
| #47 | "An Operational Theory of Monopoly Union-Competetive Firm Interaction," MacDonald, Glenn M. and Chris Robinson, June 1986, PDF Version. |
| #46 | "Formula Budgeting: The Economics and Analytics of Fiscal Policy Under Rules," Hanushek, Eric A., June 1986, PDF Version. |
| #45 | "Ski-Lift Pricing, With Appilications to Labor and Other Markets," Barro, Robert J. and Paul M. Romer, May 1986, PDF Version. |
| #44 | "Job Mobility and the Information Content of Equilibrum Wages: Part 1," MacDonald, Glenn M., June 1986, PDF Version. |
| #43 | "An Operational Theory of Monopoly Union-Competetive Firm Interaction," MacDonald, Glenn M. and Chris Robinson, June 1986, PDF Version. |
| #42 | "Smooth Valuation Functions and Determinacy With Infinitely Lived Consumers," Kehoe, Timothy J., David K. Levine, and Paul M. Romer, April 1986, PDF Version. |
| #41 | "Sector Disturbances, Government Policies, and Industrial Output in Seven European Countries," Stockman, Alan C., April 1986, PDF Version. |
| #40 | "Employment Relations in Dual Labor Markets," Oi, Walter Y., April 1986, PDF Version. |
| #39 | "The Economics of Schooling: Production and Efficiency in Public Schools," Hanushek, Eric A., April 1986, PDF Version. |
| #38 | "Investment, Capacity Utilization and the Real Business Cycle," Greenwood, Jeremy and Zwi Hercowitz, April 1986, PDF Version. |
| #37 | "Large-Scale Tax Reform: The Example of Employer Paid Health Insurance Premiums," Phelps, Charles E., March 1986, PDF Version. |
| #36 | "Fiscal Policies and International Financial Markets," Stockman, Alan C., March 1986, PDF Version. |
| #35 | "Price Contracts, Output, and Monetary Disturbances," Stockman, Alan C., March 1986, PDF Version. |
| #34 | "Risk Sharing, Indivisible Labor, and Aggregate Fluctuations," Rogerson, Richard, February 1986, PDF Version. |
| #33 | "Oil Price Shocks and the Dispersion Hypothesis,1900-1980," Lougani, Prakash, January 1986, PDF Version. |
Working Papers for 1985 (back to top) | |
| #32 | "Sticky Goods Prices, Flexible Asset Prices, Monopolistic Competetion, and Monetary Policy," Svensson, Lars E. O., September 1985, PDF Version. |
| #31 | "Pricing in a Customer Market," Bils, Mark, September 1985, PDF Version. |
| #30 | "The Cyclical Behaviour of Marginal Cost and Price (Revised)," Bils, Mark, November 1985, PDF Version. |
| #29 | "The Solidarity Axiom for Quasi-Linear Social Choice Problems," Chun, Youngsub, November 1985, PDF Version. |
| #28 | "Investment Banking Contracts in a Speculative Attack Environment: Evidence from the 1890's," Grilli, Vittorio U., November 1985, PDF Version. |
| #27 | "Increasing Returns and Long Run Growth," Romer, Paul M., October 1985, PDF Version. |
| #26 | "A Reformulation of the Economic Theory of Fertility," Becker, Gary S. and Robert J. Barro, October 1985, PDF Version. |
| #25 | "Exchange Controls, Capital Controls, and International Financial Markets," Stockman, Alan C. and Hernandez Alejandro, September 1985, PDF Version. |
| #24 | "On the Indeterminacy of Capital Accumulation Paths," Boldrin, Michele and Luigi Montrucchio, August 1985, PDF Version. |
| #23 | "The Dyanamic Behaviour of College Enrollment Rates: The Effect of Baby Booms and Busts," Alsalam, Nabeel, October 1985, PDF Version. |
| #22 | "International Borrowing and Time-Consistent Fiscal Policy," Persson, Torsten and Lars E. O. Svensson, August 1985, PDF Version. |
| #21 | "The Effect of Cohort Aize on Earnings: An Examination of Substitution Relationships," Alsalam, Nabeel, September 1985, PDF Version. |
| #20 | "Credible Pricing and the Possibility of Harmful Regulation," Woroch, Glenn A., September 1985, PDF Version. |
| #19 | "Monotonically Decreasing Natural Resource: Prices Under Perfect Foresight," Romer, Paul M. and Hiroo Sasaki, February 1985, PDF Version. |
| #18 | "Regulatory Risk, Investment, and Welfare," Woroch, Glenn A., July 1985, PDF Version. |
| #17 | "Reputation in a Model of Monetary Policy With Incomplete Information," Barro, Robert J., July 1985, PDF Version. |
| #16 | "A Positive Analysis of Multiproduct Firms in Market Equilibrium," MacDonald, Glenn M. and Alan D. Slivinski, July 1985, PDF Version. |
| #15 | "Minute by Minute: Efficiency, Normality, and Randomness in Intradaily Asset Prices," Feinstone, Lauren, June 1985, PDF Version. |
| #14 | "Average Marginal Tax Rates from Social Security and the Individual Income Tax," Barro, Robert J. and Chaipat Sahasakul, June 1985, PDF Version. |
| #13 | "Cake Eating, Chattering and Jumps: Existence Results for Variational Problems," Romer, Paul M., May 1985, PDF Version. |
| #12 | "Recent Developments in the Theory of Rules Versus Discretion," Barro, Robert J., May 1985, PDF Version. |
| #11 | "Hours Per Worker, Employment, Unemployment and Duration of Employment: An Equilibrium Model," Rogerson, Richard, April 1985, PDF Version. |
| #10 | "Indivisible Labour, Lotteries and Equilibrium," Rogerson, Richard, April 1985, PDF Version. |
| #9 | "An Equilibrium Model of Involuntary Unemployment," Rogerson, Richard, April 1985, PDF Version. |
| #8 | "Recursive Competitive Equilibrium With Nonconvexities: An Equilibrium Model of Hours Per Worker and Employment," Rogerson, Richard, April 1985, PDF Version. |
| #7 | "The Emergence of Dynamic Complexities in Models of Optimal Growth: The Role of Impatience," Boldrin, Michele and Luigi Montrucchio, April 1985, PDF Version. |
| #6 | "Two aspects of the Axiomatic Theory of Bargaining," Thomson, William, April 1984, PDF Version. |
| #5 | "Monotonicity Properties of Bargaining Solutions When Applied to Economics," Chun, Youngsub and William Thomson, April 1985, PDF Version. |
| #4 | "The Theory of International Factor Flows: The Basic Model," Jones, Ronald W., Isaias Coeho, and Stephen T. Easton, March 1985, PDF Version. |
| #3 | "Capital Flows, Investment, and Exchange Rates," Stockman, Alan C. and Lars E. O. Svensson, March 1985, PDF Version. |
| #2 | "Tax Effects and Transaction Costs for Short Term Market Discount Bonds," Romer, Paul M., March 1985, PDF Version. |
| #1 | "Government Spending, Interest Rates, Prices and Budget Deficits in the UK, 1730-1918*," Barro, Robert J., March 1985, PDF Version. |
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