Browsing Department of Economics by Title

Now showing items 273-292 of 328

    • Subgame Perfect Cooperation in an Extensive Game 
      Wooders, Myrna; Chander, Parkash (Vanderbilt University, 2010)
      Abstract: This paper brings together two of the most important solution concepts of game theory –subgame-perfect Nash equilibrium of a non-cooperative game and the core of a cooperativegame. Our approach rests on two ...
    • Substitution and Risk Aversion: Is Risk Aversion Important for Understanding Asset Prices? 
      Eden, Benjamin (Vanderbilt University, 2004)
      This paper uses a recursive time-non-separable expected utility function to separate between the intertemporal elasticity of substitution (IES) and a measure of relative risk aversion to bets in terms of money (RAM). Risk ...
    • Substitution, Risk Aversion and Asset Prices: An Expected Utility Approach 
      Eden, Benjamin (Vanderbilt University, 2008)
      The standard power utility function is widely used to explain asset prices. It assumes that the coefficient of relative risk aversion is the inverse of the elasticity of substitution. Here I use the Kihlstrom and Mirman ...
    • Syphilis Cycles 
      Aaland, David; Finoff, David; Huang, Kevin X.D. (Vanderbilt University, 2010)
      Abstract: Syphilis has re-emerged as a global public health issue. In lesser developed countries, millions of people are contracting the disease, which can be fatal without access to proper treatment. In developed countries, ...
    • Tariffs and the Great Depression Revisited 
      Crucini, Mario J.; Kahn, James (Vanderbilt University, 2003)
      In this paper we revisit the issues addressed in Crucini and Kahn (1996) in the light of recent research on the Great Depression. In that paper we had argued that particular features of the Hawley-Smoot tariffs could have ...
    • Tax Competition Reconsidered 
      Dhillon, Amrita; Wooders, Myrna; Zissimos, Ben (Vanderbilt University, 2006)
      In a classic model of tax competition, we show that the level of public good provision and taxation in a decentralized equilibrium can be efficient or inefficient with either too much, or too little public good provision. ...
    • Technology and the Stock Market: 1885-1998 
      Jovanovic, Boyan; Rousseau, Peter L. (Vanderbilt University, 2000)
      Using 114 years of U.S. stock market data we try to relate movements in stock prices to changes in technology. We find Measures of technological progress explain 37% of the 3.9% annual growth in the stock market over the ...
    • Technology Shocks, Q, and the Propensity to Merge 
      Han, Lihong; Rousseau, Peter L. (Vanderbilt University, 2009)
      Data on U.S. mergers and aquisitions from 1987 to 2006 indicate that firms with high market-to-book values (i.e., Tobin's Q) tend to merge with firms that have lower Q's, but that target Q's are on average higher than those ...
    • Temptation and Self-Control: Some Evidence and Applications 
      Huang, Kevin X.D.; Liu, Zheng; Zhu, John Q. (Vanderbilt University, 2007)
      This paper studies the empirical relevance of temptation and self-control using household-level data from the Consumer Expenditure Survey. We construct an infinite-horizon consumption-savings model that allows, but does ...
    • Testing for a Unit Root against Transitional Autoregressive Models 
      Park, Joon Y.; Shintani, Mototsugu (Vanderbilt University, 2005)
      This paper considers the test of a unit root in transitional autoregressive models. In particular, we develop the asymptotic theory of the inf-t test for the null hypothesis of a unit root in a wide class of nonlinear ...
    • The Advantages of Association: Know-How Sharing and Innovation Adoption in Four Brazilian Cities 
      Zissimos, Isleide R. (Vanderbilt University, 2011)
      This paper investigates the role of social learning in the diffusion of different types of innovation in four urban areas of Brazil. A unique database of small sized firms in 19 economic sectors is used to show evidence ...
    • The College Football Association Television Broadcase Cartel 
      Siegfried, John J.; Burba, Molly Gardner (Vanderbilt University, 2003)
      The College Football Association (CFA) sold rights to broadcast live games of its members from 1984 through 1995. It competed directly with the Big Ten and Pac Ten universities that sold an alternative broadcast package. ...
    • The Cost of Heterogeneity in a Monetary Union 
      Hallett, Andrew Hughes; Weymark, Diana N. (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, ...
    • The Economic Effects of Slum Clearance and Urban Renewal in the United States 
      Collins, William J.; Shester, Katharine L. (Vanderbilt University, 2010)
      The Housing Act of 1949 established a federally subsidized program that helped cities clear areas of existing buildings for redevelopment, rehabilitate deteriorating structures, complete comprehensive city plans, and enforce ...
    • The Economic Impact of Colleges and Universities 
      Siegfried, John J.; Sanderson, Allen R.; McHenry, Peter (Vanderbilt University, 2006)
      This essay describes methodological approaches and pitfalls common to studies of the economic impact of colleges and universities. Such studies often claim local benefits that imply annualized rates of return on local ...
    • The Economics of 'New Blood' 
      Laing, Derek; Palivos, Theodore; Wang, Ping (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 ...
    • The Economics of Cloud Computing 
      Bayrak, Ergin; Conley, John; Wilkie, Simon (Vanderbilt University, 2011)
      Cloud computing brings together several existing technologies including service oriented architecture, distributed grid computing, virtualization, and broadband networking to provide software, infrastructure, and platforms ...
    • The Economics of Regional Economics Associations 
      Siegfried, John J. (Vanderbilt University, 2001)
      Membership and conference attendance trends of regional economics associations are reported and analyzed. Although membership and conference attendance grow steadily at the American Economic Association, both are stagnant ...
    • The Effects of Seed Money and Refunds on Charitable Giving: Experimental Evidence from a University Capital Campaign 
      List, John A.; Lucking-Reiley, David (Vanderbilt University, 2000)
      We test two recent theories on the subject of charitable fundraising in capital campaigns. Andreoni (1998) predicts that publicly announced seed contributions can increase the total amount of charitable giving in a capital ...
    • The Friedman Rule in an Overlapping Generations Model:Social Security in Reverse 
      Eden, Benjamin (Vanderbilt University, 2007)
      The welfare gains from adopting a zero nominal interest policy depend on the implementation details. Here I focus on a government loan program that crowds out lending and borrowing and other money substitutes. Since money ...