Browsing Working Papers by Title
Now showing items 43-62 of 319
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(Vanderbilt University, 2010)Abstract: The paper investigates the role of the Intertemporal Elasticity of Substitution () in determining the equity premium. This is done in an overlapping generations economy populated by agents that live for 2 periods ...
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(Vanderbilt University, 2002)This paper is concerned with inflation targeting as a potential monetary policy objective in a developing economy. Using data from Nicaragua, it first studies the extent to which the Consumer Price Index (CPI) could be ...
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(Vanderbilt University, 2009)This paper provides sufficient conditions to ensure nonemptiness of approximate cores of many-player games and symmetry of approximate core payoffs (the equal treatment property). The conditions are: (a) essential ...
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(Vanderbilt University, 2005)Is conformity amongst similar individuals consistent with self-interested behavior? We consider a model of incomplete information in which each player receives a signal, interpreted as an allocation to a role, and can make ...
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(Vanderbilt University, 2001)Two aspects of corruption are examined theoretically: its effect on macroeconomic variables, and its determination from the political environment. Corruption is defined in an occupational choice model as the extra fees or ...
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(Vanderbilt University, 2006)Cournot's 1838 model of strategic interaction between competing firms has become the primary workhorse for the analysis of imperfect competition, and shows up in a variety of fields, notably industrial organization and ...
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(Vanderbilt University, 2001)America's adult population is economically illiterate. College economics instruction must shoulder some of the blame for this situation. Forty percent of all college graduates take an economics course. Over 95 percent of ...
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(Vanderbilt University, 2000)This paper develops a dynamic general-equilibrium model with production to examine the inter-relationships between the real and the financial sectors with and without credit market imperfections. Due to the moral hazard ...
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(Vanderbilt University. Dept. of Economics, 2004-01-20)We consider a simple model in which agents are endowed with heterogeneous abilities and differing degrees of honesty. Agents choose either to become criminals or invest in education and become workers instead. The model ...
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(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 ...
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(Vanderbilt University, 2008)Uncertainties associated with the informational content of real-time data and the impact of policy initiatives on expectations have been offered as rationales for gradualism in monetary policy. Our objective is to assess ...
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(Vanderbilt University, 2011)Uncertainties associated with the informational content of real-time data and the impact of policy initiatives on expectations have been offered as rationales for gradualism in monetary policy. Our objective is to assess ...
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(Vanderbilt University, 2000)We examine the role of visibility in influencing government resource allocation across multiple public goods. In an electoral framework, outcomes are defined to be less visible in tasks if it is harder to assess government ...
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(Vanderbilt University, 2006)We utilize a previously untapped data source, Gwendolyn Hall (1999), to examine the market for slaves in Louisiana, both in New Orleans and outside of New Orleans. We are able to study the process of price determination ...
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(Vanderbilt University, 2000)Fundamentally, this paper is about the value of information. Whenever a cost-benefit analysis has to be undertaken using benefits that are estimated from household survey data the size of the survey sample must be specified. ...
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(Vanderbilt University, 2010)Abstract: 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 ...
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(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 ...
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(Vanderbilt University, 2009)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 ...
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(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 ...
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(Vanderbilt University, 2000)Using cross-sectional data on local currency prices of over 1,800 retail goods and services across 13 European countries in the mid 1980's, we characterize the behavior of average relative prices --- `real exchange rates' ...