Browsing Working Papers by Title
Now showing items 94-113 of 319
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(Vanderbilt University. Dept. of Economics, 2004-01)We consider a general equilibrium economy with public goods and externalities. Following Boyd and Conley (1997), we treat externality markets directly instead of indirectly through Arrovian commodities. Because such direct ...
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(Vanderbilt University, 2002)Wright (1990) presents evidence on the factor content of trade that indicates the United States tended to export goods that were raw materials intensive. Using factor per unit of output ratios derived from the United States ...
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(Vanderbilt University, 2002)"Most-favored-nation" (hereafter, MFN) clauses have been used in analyses of international trade, durable goods monopoly pricing, and franchise contracting to address a repeat player's time-inconsistency problem. Recent ...
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(Vanderbilt University, 2002)This paper examines the racial gap in infant mortality rates from 1920 to 1970. Using state-level panel data with information on income, urbanization, women's education, and physicians per capita, we can account for a large ...
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(Vanderbilt University, 2009)Investment of U.S. firms responds asymmetrically to Tobin's Q: Investment of established firms -- `intensive' investment -- reacts negatively to Q whereas investment of new firms -- `extensive' investment -- responds ...
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(Vanderbilt University, 2000)This paper develops a two country endogenous growth model with accumulation of both physical and human capital. We establish the existence of two country balanced growth equilibria in which physical and human capital grow ...
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(Vanderbilt University, 2000)This paper establishes a growth model where firms and residents in polluted areas bargain cooperatively to settle environmental concerns. While economic development affects the extent of the negotiation outcomes, the ...
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(Vanderbilt University, 2002)This paper develops an overlapping-generations model of finance and growth with intrinsic heterogeneity in loanable fund conversion ability, where agents make occupational choice between becoming entrepreneurs and becoming ...
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(Vanderbilt University, 2002)We build a model consisting of a borrowing firm, a lending institution (bank), and a third party influencing loan decision-making (auditor/government regulator) where a low-type firm can bribe the auditor to file an ...
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(Vanderbilt University, 2007)We build a model in which financial intermediaries provide insurance to households against idiosyncratic liquidity shocks. Households can invest in financial markets directly if they pay a cost. In equilibrium, the ability ...
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(Vanderbilt University, 2000)What happens when liquidity increases in credit markets and more funds are channeled from borrowers to lenders? We examine this question in a general equilibrium model where financial matchmakers help borrowers (firms) and ...
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(Vanderbilt University, 2001)This paper brings together two strands of the economic literature -- that on the finance-growth nexus and that on capital market integration -- and explores key issues surrounding each strand through both institutional/country ...
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(Vanderbilt University, 2000)In this article, the joint use of an income tax and public provision of education as instruments to achieve the government's distributional objectives are considered. Individuals differ in innate labour productivity and ...
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(Vanderbilt University, 2005)This paper studies the evolution of European fiscal policies and the attempts at budgetary consolidation through three periods: the pre-Maastricht phase (to 1991); the run up to monetary union (1992-97), and finally the ...
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(Vanderbilt University, 2000)We examine the effect of "split-award" statutes (wherein the State takes a share of a punitive damages award) on equilibrium settlements and the incentives to go to trial. We find that split-award statutes simultaneously ...
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(Vanderbilt University, 2001)This article considers the ranking of profiles of opportunity sets on the basis of their equality. A version of the Pigou-Dalton transfer principle that is appropriate for the measurement of opportunity inequality is ...
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(Vanderbilt University, 2002)This article investigates the impact on economic performance of the timing of moves in a policy game between the government and the central bank for a government with both distributional and stabilization objectives. It ...
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(Vanderbilt University, 2009)The degree to which explicit inflation targets contribute to the success of price stabilization policies has not been conclusively established. To assess the impact of announced inflation targets on the effectiveness of ...
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(Vanderbilt University, 2006)Childhood obesity is a significant public health problem that also has economic consequences. Medical research suggests that nutritional interventions at a young age can influence nutritional behavior and reduce childhood ...
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(Vanderbilt University, 2006)This article considers measures of individual welfare change for projects that change the state distribution of prices and incomes. For a consumer whose preferences satisfy the expected utility hypothesis, we investigate ...