Browsing Department of Economics by Title
Now showing items 163-182 of 328
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(Vanderbilt University, 2000)Despite wide recognition of their significant role in explaining sustained growth and economic development, uncompensated knowledge spillovers have not yet been fully modeled with a microeconomic foundation. The main purpose ...
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(Vanderbilt University. Dept. of Economics, 2004-01)This paper reports results from a survey of the labor market experience of the 2001-02 class of Ph.D. economists. We estimate that 850 economics Ph.D.s were awarded by U.S. universities in 2001-02, down about 100 from five ...
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(Vanderbilt University, 2008)This study explores theoretical and macroeconomic implications of the self-confirming equilibrium in a standard growth model. When rational expectations are replaced by adaptive expectations, we prove that the self-confirming ...
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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)U.S. Treasury securities are nominal assets that are subject to two sources of risk: inflation risk, and bond-supply risk. Inflation risk is well-known, but supply risk has received little attention. For reasons we shall ...
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(Vanderbilt University, 2009)Why do people hold dollar denominated assets when higher rate of return alternatives are available? Can a country collect seigniorage payments from other countries in the long run? Does the supplier of the international ...
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(Vanderbilt University, 2007)I use price dispersion to model liquidity. Buyers may be rationed at the low price. An asset is more liquid if it is used relatively more in low price transactions and the probability that it will buy at the low price is ...
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(Vanderbilt University, 2011)I study the real effects of bubbles in a price-settingenvironment. Bubbles cause price dispersion and overinvestment in assets that are overvalued. And when they pop some goods are not sold and capacity is not fully utilized. ...
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(Vanderbilt University, 2000)This paper develops an endogenous growth model with labor market matching and technology adoption. While labor market search and entry frictions lengthen technology diffusion, exogenous technology arrival may creatively ...
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(Vanderbilt University, 2009)The equivalence of markets and games concerns the relationship between two sorts of structures that appear fundamentally different -- markets and games. Shapley and Shubik (1969) demonstrates that: (1) games derived from ...
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(Vanderbilt University, 2011)This paper analyzes economic linkages between the exhaustion and protection of intellectual property. We consider a North-South model, where a firm that enjoys monopoly status in the North by virtue of an intellectual ...
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(Vanderbilt University, 2001)We explore the interplay of market structure and government trade policy in the context of a heterogenous goods duopoly model (allowing for goods to be substitutes or complements) wherein governments simultaneously and ...
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(Vanderbilt University, 2003)In this paper we examine the nexus between product markets and the legal system. We examine a model wherein oligopolists produce differentiated products that also have a safety attribute. Consumption of these products may ...
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(Vanderbilt University, 2007)We explore how the incentives of a plaintiff and her attorney, when considering filing suit and bargaining over settlement, can differ between those suits associated with stand-alone torts cases and those suits involving ...
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(Vanderbilt University, 2006)Using a sample of 26 U.S. economics Ph.D. programs in Fall 2003, we estimate that only about 12 percent of the U.S. and Canadian students accepted for doctoral study did not enroll in any U.S. economics Ph.D. program in ...
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(Vanderbilt University, 2003)This paper presents and examines a new algorithm for solving a score equation for the maximum likelihood estimate in certain problems of practical interest. The method circumvents the need to compute second order derivatives ...
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(Vanderbilt University, 2005)This article reconsiders the Harsanyi-Sen debate concerning whether Harsanyi is justified in interpreting his Aggregation and Impartial Observer Theorems as providing axiomatizations of utilitarianism. Sen's criticism and ...
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(Vanderbilt University, 2003)Data from Okinawa's monetary union with the United States in 1958 and with Japan in 1972 are used to obtain a quantitative indication of how monetary union might affect the behavior of nominal and real shocks across two ...
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(Vanderbilt University, 2006)Abstract: In this article, we introduce an index of ex ante exchange market pressure (EMP) that can be used as a benchmark against which to measure the effectiveness of sterilized intervention. Ex ante EMP is the change ...
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(Vanderbilt University, 2005)We consider the classic puzzle of why people turn out for elections in substantial numbers even though formal analysis strongly suggests that rational agents would not vote. If one assumes that voters do not make systematic ...