Browsing Working Papers by Title
Now showing items 216-235 of 319
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(Vanderbilt University, 2000)We use data from the manuscript census of manufacturing to estimate the effects of the length of the working day on output and wages. We find that the elasticity of output with respect to daily hours was positive but less ...
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(Vanderbilt University, 2006)In this paper we examine the behavior of a firm that produces a product with a privately-observed safety attribute; that is, consumers cannot observe directly the product¬πs safety. The firm may, at a cost, disclose its ...
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(Vanderbilt University, 2002)Many real business cycle models lack a significant propagation mechanism. Consequently most of the serial correlation in output is inherited from the serial correlation in the exogenous shocks. A simple model is presented ...
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(Vanderbilt University, 2006)Protests take place for a variety of reasons. In this paper we focus on protests that have a well defined objective, that is in conflict with the objectives of the government. Hence the success or failure of a protest ...
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(Vanderbilt University, 2007)We show that, in a setting where tax competition promotes efficiency, variation in the extent to which firms can use public goods to reduce costs brings about a reduction in the intensity of tax competition. This in turn ...
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(Vanderbilt University. Dept. of Economics, 2004-06)Comparative static properties of the solution to an optimal nonlinear income tax problem are provided for a model in which the government both designs an income tax schedule for redistributive purposes and provides a public ...
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(Vanderbilt University, 2000)Sellers in eBay auctions have the opportunity to choose both a public minimum bid amount and a secret reserve price. We ask, empirically, whether the seller is made better or worse off by setting a secret reserve above a ...
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(Vanderbilt University, 2004)We propose a methodology for constructing operational indices of inflation pressure, the monetary authority's effort to reduce this pressure, and the degree to which inflation pressure is alleviated. We begin with model ...
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(Vanderbilt University, 2001)This paper examine long-run trends in racial differences in home ownership rate and in the value of owner-occupied housing. In contrast to our previous work, we include female-headed households in the analysis. This extension ...
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(Vanderbilt University, 2000)This paper uses census IPUMS data to analyze trends in racial differences in home ownership and housing values and to examine the connection between residential segregation and the housing status of blacks relative to ...
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(Vanderbilt University, 2000)This paper begins by documenting racial convergence in the value of owner-occupied housing from 1940 to 1990. Most of this convergence occurred before 1970, as black and white home owners became more similar in terms of ...
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(Vanderbilt University, 2001)This paper describes conditions under which one investment project dominates a second project in terms of net present value, irrespective of the choice of the discount rate. The resulting partial ordering of projects has ...
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(Vanderbilt University. Dept. of Economics, 2004-02)In this paper we examine the consequences of having a Central Bank whose preferences are state contingent. This has variously been identified in the literature as a Central Bank that is "rationally inattentive", "risk ...
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(Vanderbilt University, 2007)Empirical evidence suggests that it may cost time, effort, and resources to properly implement a saving plan, though such cost may differ across individual consumers. We document seven facts on macroeconomic consumption ...
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(Vanderbilt University, 2000)In empirical studies of simultaneous-move games, such as sealed-bid auctions, researchers frequently wish to estimate quantities which depend on interactions between the strategies of different players. Examples include ...
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(Vanderbilt University, 2006)This paper argues that, because governments are able to relax tax competition through public good differentiation, traditionally high-tax countries have continued to set taxes at a relatively high rate even as markets have ...
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(Vanderbilt University, 2002)This paper studies a class of dynamic games, called repeated games with asynchronous moves, where not all players may revise their actions in every period. With state-dependent backwards induction, we introduce the concept ...
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(Vanderbilt University, 2009)This paper studies price setting within a chain of grocery stores, using a scanner database that contains observations of retail prices for 435 products within 75 stores over 121 weeks. We find price dispersion within the ...
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(Vanderbilt University, 2000)We use data from the manuscript censuses of manufacturing for 1850, 1860, 1870, and 1880 to study the dispersion of average monthly wages across establishments. We find a marked increased in wage inequality over the period, ...
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(Vanderbilt University, 2005)We introduce a no-risky-arbitrage price (NRAP) condition for asset market models allowing both unbounded short sales and externalities such as trading volume. We then demonstrate that the NRAP condition is sufficient for ...