Working papers of the Vanderbilt Economics Department.

Recent Submissions

  • Zissimos, Ben (Vanderbilt University, 2011)
    This paper presents a new theory of trade policy-making based on the possibility of social conflict, and determines the conditions under which it will apply. In a setting where property rights are poorly enforced, the paper ...
  • Eden, Benjamin (Vanderbilt University, 2011)
    The paper analyzes the intermediation role of government under the assumption that it has an advantage over the private sector in collecting uncollateralized loan payments. It isshown that a government loan program may ...
  • Daughety, Andrew F.; Reinganum, Jennifer F. (Vanderbilt University, 2011)
    We show that, in the context of the market for a professional service, adverse selection problems can sufficiently exacerbate moral hazard considerations so that even though all agents are risk neutral, welfare can be ...
  • Stroup, Caleb; Zissimos, Benjamin (Vanderbilt University, 2011)
    This paper shows how, under threat of revolution, a nation's elite are able to maintain political stability and hence ownership of their wealth by creating or expanding a `pampered bureaucracy.' The elite thus divert part ...
  • Daughety, Andrew F.; Reinganum, Jennifer F. Reinganum (Vanderbilt University, 2011)
    This chapter provides a survey of much of the recent theoretical analysis of products liability. We start by describing an idealized model and providing the specific economic assumptions which underpin it. Later sections ...
  • 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 ...
  • Cuff, Katherine; Hong, Sunghoon; Schwartz, Jesse; Weymark, John A. (Vanderbilt University, 2011)
    A necessary and sufficient condition for dominant strategy implementability when preferences are quasilinear is that, for any individual i and any choice of the types of the other individuals, all k-cycles in i's allocation ...
  • Daughety, Andrew F.; Reinganum, Jennifer F. (Vanderbilt University, 2011)
    In the traditional model of the law and economics of torts, harm accrues proportional to use. This has the remarkable implication for products-generated torts that product performance concerns (e.g., issues of care and of ...
  • Rousseau, Peter L.; Stroup, Caleb (Vanderbilt University, 2011)
    We trace directors through time and across firms to study whether acquirers' exposure to non-public information about potential targets through board service histories affects the market for corporate control. In a sample ...
  • Rei, Claudia (Vanderbilt University, 2011)
    This paper focuses on the implications of organizational control on the race for economic leadership across merchant empires. Poor organizational choices reduce incentives to invest, which in turn stifle technological ...
  • Conley, John P.; Crucini, Mario J.; Driskill, Robert A.; Onder, Ali Sina (Vanderbilt University, 2011)
    We investigate how increases in publication delays have affected the life-cycle of publications of recent Ph.D. graduates in economics. We construct a panel dataset of 14,271 individuals who were awarded Ph.D.s between ...
  • Crucini, Mario J.; Shintani, Mototsugu; Tsuruga, Takayuki (Vanderbilt University, 2011)
    We introduce the real exchange rate volatility curve as a useful device to understand the relationship between price stickiness and the fluctuations in Law of One Price deviations. In the presence of both nominal and real ...
  • Groenert, Valeska; Zissimos, Ben (Vanderbilt University, 2011)
    We show that, in competition between a developed country and a developing country over environmental standards and taxes, the developing country may have a `second-mover advantage.' In our model, firms do not unanimously ...
  • Berka, Martin; Crucini, Mario J.; Wang, Chih-Wei (Vanderbilt University, 2011)
    Cole and Obstfeld (1991) exposited a classic result where equilibrium movements in the terms of trade could make ex ante risk-sharing arrangements unnecessary: a unity elasticity of substitution across goods and production ...
  • 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 ...
  • Saggi, Kamal; Roy, Santanu (Vanderbilt University, 2011)
    This paper shows that parallel import policy can act as an instrument of strategic trade policy. We demonstrate this result in two-country international duopoly where a domestic monopolist competes with a rival firm in the ...
  • Eden, Benjamin (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. ...
  • Saggi, Kamal (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 ...
  • Roy, Santanu; Saggi, Kamal (Vanderbilt University, 2011)
    In a North-South vertically differentiated duopoly, we derive equilibrium government policies towards parallel imports (PIs). By incorporating strategic interaction at the policy-setting stage and the product market, the ...
  • Saggi, Kamal; Limao, Nuno (Vanderbilt University, 2011)
    Developing countries now account for a significant fraction of both world trade and two thirds of the membership of the World Trade Organization (WTO). However, many are still individually small and thus have a limited ...

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