Browsing Working Papers by Title
Now showing items 142-161 of 319
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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 ...
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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. ...