Browsing Working Papers by Title
Now showing items 135-154 of 319
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(Vanderbilt University, 2001)In virtually all theoretical studies of inflation targeting, the announced inflation target is treated as being fully credible. However, inflation targeting policies have typically been implemented after protracted periods ...
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(Vanderbilt University, 2009)A large body of evidence links financial development to economic growth, yet the channels through which inflation affects this relationship and its stability have been less thoroughly explored. We take an econometric and ...
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(Vanderbilt University, 2005)The problem of monetary policy delegation is formulated as a two-stage non-cooperative game between the government and the central bank. The solution to this policy game determines the optimal combination of central bank ...
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(Vanderbilt University, 2000)This paper explores a new aspect of the relationship between backwardness and growth, "information spillover". If solving problems is a source of economic growth, then knowing which problems have been solved is per se ...
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(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 ...
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(Vanderbilt University, 2006)This paper is a non-technical review of research developments in the international real business cycle literature. International business cycle facts are summarize with particular attention to the sources of output variance ...
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(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 ...
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(Vanderbilt University, 2006)What are the "liquidity services" provided by ìover-pricedî assets? How do international seigniorage payments affect the choice of monetary policies? Does a country gain when other hold its ìover-pricedî ...
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(Vanderbilt University, 2000)Australia, Canada, Germany, and the United States experienced a substantial decline in undergraduate degrees in economics from 1992 through 1996, followed immediately by a modest recovery. This cycle does not conform to ...
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(Vanderbilt University, 2004)Head Start is a comprehensive, early childhood development program designed to augment the human capital and health capital levels of disadvantaged children. Grossman's (1972) health capital model suggests that early ...
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(Vanderbilt University. Dept. of Economics, 2004-04)There is a presumption in the literature that price or exchange rate uncertainty, or uncertainty in the monetary conditions underlying them, will have a negative effect on investment. Some argue that this negative effect ...
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(Vanderbilt University, 2007)In sticky price models with endogenous investment, virtually all monetary policy rules that set a nominal interest rate in response solely to future inflation induce real indeterminacy of equilibrium. Applying the ...
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(Vanderbilt University, 2000)Most studies of family structure and child outcomes conclude that stepchildren fare little better than children in single-parent families, and substantially worse than children in intact families. Is this because adults ...
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(Vanderbilt University, 2009)This paper shows that the WTO's Article XXIV increases the likelihood of free trade, but may worsen world welfare when free trade is not reached and customs unions (CUs) form. We consider a model of many countries. Article ...
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(Vanderbilt University, 2002)This paper examines inter-generational persistence in child labor by developing a dynamic model and exploring its implications empirically in Brazil. We begin by building a simple overlapping generations model of the ...
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(Vanderbilt University, 2001)A positive Lyapunov exponent is one practical definition of chaos. We develop a formal test for chaos in a noisy system based on the consistent standard errors of the nonparametric Lyapunov exponent estimators. When our ...
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(Vanderbilt University, 2000)Traditionally, a society's literacy has been measured by the 'literacy rate' or the percent of the adult population that is literate. The present paper maintains that the distribution on literates across households also ...
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(Vanderbilt University, 2000)The Panic of 1837 stands among the most severe banking crises in U.S. history, marking the start of a business downturn from which the nation would not recover for six years. Given the serious consequences of the panic for ...
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(Vanderbilt University, 2006)Abstract: This article provides an overview of the main events in the life of John Harsanyi and a summary of his research on decision-theoretic foundations for utilitarianism, cooperative bargaining theory, games of ...
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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 ...