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WORKING PAPERS


This is a list of RCER Working Papers. See below for ordering information.


[ 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999
| 1998 | 1997 |1996 |1995 |1994 |1993 |1992 |1991 |1990 |1989 |1988 |1987 |1986 |1985



Working Papers for 2014 (back to top)

#583"Individual and Aggregate Labor Supply in a Heterogeneous Agent Economy with Intensive and Extensive Margins,"
Chang, Yongsung, Sun-Bin Kim, Kyooho Kwon, and Richard Rogerson, PDF Version.
#582"Labor Market Uncertainty and Portfolio Choice Puzzles,"
Chang, Yongsung, Jay H. Hong, and Marios Karabarbounis, June 2014, PDF Version.
#581"Borrowing Constraints, College Aid, and Intergenerational Mobility,"
Hanushek, Eric, Leung, Charles Ka Yui and Kuzey Yilmaz, March 2014, PDF Version.
#580"Choice-theoretic Solutions for Strategic Form Games,"
Duggan, John, Michel Le Breton, March 2014, PDF Version.
#579"How Sticky Wages In Existing Jobs Can Affect Hiring,"
Bils, Mark, Yongsung Chang, Sun-Bin Kim, January 2014, PDF Version.

Working Papers for 2013 (back to top)

#578"Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: an update,"
Thomson, William, August 2013, PDF Version.
#577"Granger Causality from Exchange Rates to Fundamentals: What Does the Bootstrap Test Show Us?,"
Ko, Hsiu-Hsin and Masao Ogaki, February 2013, PDF Version.

Working Papers for 2012 (back to top)

#576"On the Optimality of Exclusion in Multi-dimensional Screening,"
Barelli, Paulo, Suren Basov, Mauricio Bugarin and Ian King, December 2012, PDF Version.
Original version #571
#575"New variable-population paradoxes for resource allocation,"
Thomson, William, September 2012, PDF Version.
#574"Public Housing Units vs. Housing Vouchers: Accessibility, Local Public Goods, and Welfare,"
Leung, Charles Ka Yui, Sinan Sarpca and Kuzey Yilmaz, September 2012, PDF Version.
#573"On the axiomatics of resource allocation: Interpreting the consistency principle,"
Thomson, William, September 2012, PDF Version.
#572"Quantifying the Impact of Financial Development on Economic Development,"
Greenwood, Jeremy, Juan M. Sanchez and Cheng Wang, March 2012, PDF Version.
#571"The Robustness of Exclusion in Multi-dimensional Screening,"
Barelli, Paulo, Suren Basov, Mauricio Bugarin and Ian King, February 2012, PDF Version.
#570"Noisy Stochastic Games,"
Duggan, John, February 2012, PDF Version.
Original version #562

Working Papers for 2011 (back to top)

#569"From Shame to Game in One Hundred Years: A Macroeconomic Model of the Rise in Premarital Sex and its De-Stigmatization,"
Fernández-Villaverde, Jesús, Jeremy Greenwood, and Nezih Guner November 2011, PDF Version.
#568"Admissibility and Event-Rationality,"
Barelli, Paulo and Spyros Galanis, October 2011, PDF Version.
#567"Extremal Choice Equilibrium: Existence and Purification with Infinite-Dimensional Externalities,"
Barelli, Paulo and John Duggan, October 2011, PDF Version.
#566"Labor-Market Heterogeneity, Aggregation, and the Policy-(In)variance of DSGE Model Parameters,"
Chang, Yongsung, Sun-Bin Kim , and Frank Schorfheide , September 2011, PDF Version.
#565"Transition Dynamics in the Neoclassical Growth Model: The Case of South Korea,"
Chang, Yongsung and Andreas Hornstein, July 2011, PDF Version.
#564"Asymmetric Phase Shifts in the U.S. Industrial Production Cycles,"
Chang, Yongsung and Sunoong Hwang, July 2011, PDF Version.
#563"General Conditions for Existence of Maximal Elements via the Uncovered Set,"
Duggan, John, July 2011, PDF Version.
#562"Noisy Stochastic Games,"
Duggan, John, June 2011, PDF Version.
Newer version #570
#561"Measurement Without Theory: A Response to Bailey and Collins,"
Greenwood, Jeremy, Ananth Seshadri, and Guillaume Vandenbroucke, February 2011, PDF Version.
#560"Interpreting Labor Supply Regressions in a Model of Full and Part-Time Work,"
Chang, Yongsung, Sun-Bin Kim, Kyooho Kwon, and Richard Rogerson, February 2011, PDF Version.
#559"Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach,"
Greenwood, Jeremy and Karen A. Kopecky, January 2011, PDF Version.

Working Papers for 2010 (back to top)

#558"The Price of Egalitarianism,"
Chang, Yongsung and Sun-Bin Kim, October 2010, PDF Version.
#557" Keeping Your Options Open,"
Forand, Jean Guillaume, October 2010, PDF Version.
#556"Labor-Market Heterogeneity, Aggregation, and the Lucas Critique,"
Chang, Yongsung, Sun-Bin Kim, and Frank Schorfheide, September 2010, PDF Version.
#555"Borrowing-Proofness of the Lindahl Rule in Kolm Triangle Economies,"
Thomson, William, July 2010, PDF Version.

Working Papers for 2009 (back to top)

#554"Bargaining and the theory of Cooperative Games: John Nash and Beyond,"
Thomson, William, September 2009, PDF Version.
#553"Being a Graduate Student in Economics,"
Thomson, William, August 2009, PDF Version.
#552"Let Them Cheat!,"
Velez, Rodrigo and William Thomson, August 2009, PDF Version.
#551"Noncooperative Foundations of Stable Sets in Voting Games,"
Anesi, Vincent, May 2009, PDF Version.
#550"Social Change: The Sexual Revolution,"
Greenwood, Jeremy and Nezih Guner, May 2009, PDF Version.
#549"Bertrand Competition in Markets With Fixed Costs,"
Saporiti, Alejandro and German Coloma, May 2009, PDF Version.
#548"Accounting for Global Dispersion of Current Accounts,"
Chang, Yongsung, Sun-Bin Kim, and Jaewoo Lee, May 2009, PDF Version.
#547"Comparative Advantage and Unemployment,"
Bils, Mark, Yongsung Chang, and Sun-Bin Kim, May 2009, PDF Version.
#546"Family Violence and Football: The Effect of Unexpected Emotional Cues on Violent Behavior,"
Card, David and Gordon B. Dahl, October 2009, PDF Version.
#545"Borrowing-Proofness,"
Thomson, William, January 2009, PDF Version.

Working Papers for 2008 (back to top)

#544"Tough Love and Intergenerational Altruism,"
Bhatt, Vipul and Masao Ogaki, November 2008, PDF Version.
#543"Heterogeneity and Cyclical Unemployment,"
Bils, Mark, Yongsung Chang, and Sun-Bin Kim, October 2008, PDF Version.
#542"Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?,"
An, Sungbae, Yongsung Chang, and Sun-Bin Kim, September 2008, PDF Version.
#541"Bertrand's Price Competition in Markets With Fixed Costs,"
Saporiti, Alejandro and German Coloma, September 2008, PDF Version.

Working Papers for 2007 (back to top)

#540"Comparative Advantage in Cyclical Unemployment,"
Bils, Mark, Yongsung Chang, and Sun-Bin Kim, June 2007, PDF Version.
#539"Fair Allocation Rules,"
Thomson, William, December 2007, PDF Version.
#538"Lorenz Rankings of Rules for the Adjudication of Conflicting Claims,"
Thomson, William, December 2007, PDF Version.
#537"Cost Allocation and Airport Problems,"
Thomson, William, December 2007, PDF Version.
#536"On Properties of Division Rules Lifted by Bilateral Consistency,"
Hokari, Toru and William Thomson, December 2007, PDF Version.
#535"Two Families of Rules for the Adjudication of Conflicting Claims,"
Thomson, William, December 2007, PDF Version.
#534"Living With Risk,"
Epstein, Larry G., February 2007, PDF Version.
#533"An Axiomatic Model of 'Cold Feet',"
Epstein, Larry G. and Igor Kopylov, January 2007, PDF Version.
Original version #525
#532"Globalization and Country-Specific Service Links,"
Golub, Stephen S., Ronald W. Jones, and Henryk Kierzkowski, January 2007, PDF Version.

Working Papers for 2006 (back to top)

#531"Operators for the Adjudication of Conflicting Claims,"
Thomson, William and Chun-Hsien Yeh, June 2006, PDF Version.
#530"A Characterization of a Family of Rules for the Adjudication of Conflicting Claims,"
Thomson, William, April 2006, PDF Version.
#529"The Two-Agent Claims-Truncated Proportional Rule Has No Consistent Extension: A Constructive Proof,"
Thomson, William, April 2006, PDF Version.
#528"On the Existence of Consistent Rules to Adjudicate Conflicting Claims: A Constructive Geometric Approach,"
Thomson, William, April 2006, PDF Version.
#527"Learning Under Ambiguity,"
Epstein, Larry G. and Martin Schneider, April 2006, PDF Version.
Original version #497
#526"Children Crying at Birthday Parties. Why? Fairness and Incentives for Cake Division,"
Thomson, William, April 2006, PDF Version.
#525"Cognitive Dissonance and Choice,"
Epstein, Larry G. and Igor Kopylov, March 2006, PDF Version.
Newer version #533
#524"Nash Equilibria in Quantum Games,"
Landsburg, Steven E., February 2006, PDF Version.

Working Papers for 2005 (back to top)

#523"The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations,"
Burstein, Ariel, Martin Eichenbaum, and Sergio Rebelo, December 2005, PDF Version.
#522"Real Business Cycle Models: Past, Present and Future,"
Rebelo, Sergio, December 2005, PDF Version.
#521"An Axiomatic Model of Non-Bayesian Updating,"
Epstein, Larry G., September 2005, PDF Version.
Original version #498
#520"Modern Business Cycle Analysis,"
Greenwood, Jeremy, July 2005, PDF Version.
#519"Ambiguity, Information Quality and Asset Pricing,"
Epstein, Larry G. and Martin Schneider, July 2005, PDF Version.
#518"Non-Bayesian Updating: A Theoretical Framework,"
Epstein, Larry G. and Jawwad Noor, July 2005, PDF Version.
#517"Looking Back: Marriage, Divorce and Out-of-Wedlock Births,"
Aiyagari, Rao S., Jeremy Greenwood, and Nezih Gunner, May 2005, PDF Version.
#516"Structural Spurious Regressions and a Hausman-Type Cointegration Test,"
Choi, Chi-Young, Ling Hu, and Masao Ogaki, April 2005, PDF Version.
#515"Coarse Contingencies,"
Epstein, Larry G. and Massimo Marinacci, April 2005, PDF Version.
#514"Modelling Exchange Rate Passthrough After Large Devaluations,"
Burstein, Ariel, Martin Eichenbaum, and Sergio Rebelo, March 2005, PDF Version.

Working Papers for 2004 (back to top)

#513"Large Devaluations and the Real Exchange Rate,"
Burstein, Ariel, Martin Eichenbaum, and Sergio Rebelo, November 2004, PDF Version.
#512"Convergence under Replication of Rules to Adjudicate Conflicting Claims,"
Chun, Youngsub and William Thomson, November 2004, PDF Version.
#511"A New Solution to the Problem of Adjudicating Conflicting Claims,"
Dominguez, Diego and William Thomson, November 2004, PDF Version.
#510"Divide-and-Permute,"
Thomson, William, November 2004, PDF Version.
#509"Detecting Mean Reversion in Real Exchange Rates from a Multiple Regime STAR Model,"
Bec, Frederique, Melika Ben Salem, and Marine Carrasco, September 2004, PDF Version.
#508"Chi-square Tests for Parameter Stability,"
Carrasco, Marine, September 2004, PDF Version.
#507"Ambiguity, Information Quality, and Asset Pricing,"
Epstein, Larry G. and Martin Schneider, May 2004, PDF Version.
#506"Engines of Liberation - Additional Notes,"
Greenwood, Jeremy and Ananth Seshadri, January 2004, PDF Version.

Working Papers for 2003 (back to top)

#505"Non-Bayesian Updating: A Theoretical Framework,"
Epstein, Larry G. and Alvaro Sandroni, December 2003, PDF Version.
#504"A Theory of Exchange Rates and the Term Structure of Interest Rates,"
Lim, Hyoung-Seok and Masao Ogaki, December 2003, PDF Version.
#503"Engines of Liberation,"
Greenwood, Jeremy, Ananth Seshadri, and Mehmet Yorukoglu, November 2003, PDF Version.
#502"Structural Error Correction Models : Instrumental Variables Methods and an Application to an Exchange Rate Model,"
Kim, Jaebeom, Masao Ogaki, and Minseok Young, October 2003, PDF Version.
#501"Government Finance in the Wake of Currency Crises,"
Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo, May 2003, PDF Version.
#500"Risk Taking by Entrepreneurs,"
Hopenhayn, Hugo A. and Galina Vereshchagina, April 2003, PDF Version.
#499"A Parsimonious Macroeconomic Model for Asset Pricing: Habit Formation or Cross-sectional Heterogeneity?,"
Guvenen, Fatih, February 2003, PDF Version.

Working Papers for 2002 (back to top)

#498"An Axiomatic Model of Non-Bayesian Updating,"
Epstein, Larry G., October 2002, PDF Version.
Newer version #521
#497"Learning Under Ambiguity,"
Epstein, Larry G. and Martin Schneider, October 2002, PDF Version.
Newer version #527
#496"IID : Independently and Indistinguishably Distributed,"
Epstein, Larry G. and Martin Schneider, October 2002, PDF Version.
#495"Pairwise Comparison Estimation of Censored Transformation Models,"
Khan, Shaken and Ely Tamer, October 2002, PDF Version.
#494"Individual Accountability in Teams,"
Marx, Leslie M. and Francesco Squinting, June 2002, PDF Version.
#493"Optimal Lending Contracts and Firm Dynamics,"
Albuquerque, Rue and Hugo Hopenhayn, June 2002, PDF Version.
#492"A Theory of Financing Constraints and Firm Dynamics,"
Clement, Gain Luca and Hugo Hopenhayn, June 2002, PDF Version.
#491"Reconciling Conflicting Evidence on the Elasticity of Intertemporal Substitution: A Macroeconomic Perspective,"
Guvenen, M. Fatih, May 2002, PDF Version.
#490"Does Stockholding Provide Perfect Risk Sharing?,"
Guvenen, M. Fatih, May 2002, PDF Version.
#489"More on Marriage, Fertility and the Distribution of Income,"
Greenwood, Jeremy, Nezih Gunner, and John A. Knowles, March 2002, PDF Version.
#488"Mobility and the Return to Education: Testing a Roy Model With Multiple Markets,"
Dahl, Gordon B., February 2002, PDF Version.
#487"The U.S. Demographic Transition,"
Greenwood, Jeremy and Ananth Seshadri, January 2002, PDF Version.
#486"Why Are Rates of Inflation So Low After Large Devaluations?,"
Burstein, Ariel, Martin Eichenbaum, and Sergio Rebelo, January 2002, PDF Version.

Working Papers for 2001 (back to top)

#485"Recursive Multiple-Priors,"
Epstein, Larry G. and Martin Schneider, August 2001, PDF Version.
#484"Backward Induction and Model Deterioration,"
Squintani, Francesco, May 2001, PDF Version.
#483"A Theoretical and Empirical Study of Individual Perceptions of the Criminal Justice System,"
Lochner, Lance, June 2001, PDF Version.
#482"On the Fiscal Implications of Twin Crises,"
Burnside, Craig, Martin Eichenbaum, and Sergio T. Rebelo, May 2001, PDF Version.
#481"Efficient Investment in Children,"
Aiyagari, S. Rao, Jeremy Greenwood, and Ananth Seshadri, May 2001, PDF Version.
#480"A Few Humble Observations on Overconfidence and Equilibrium,"
Squintani, Francesco, April 2001, PDF Version.
#479"Equilibrium Unemployment,"
Gomes, Joao, Jeremy Greenwood, and Sergio Rebelo, February 2001, PDF Version.
#478"Two-Person Dynamic Equilibrium Under Ambiguity,"
Epstein, Larry G. and Jianjun Miao, January 2001, PDF Version.
#477"Optimal Contracts under Generalized Verifiability Correspondences,"
Squintani, Francesco, January 2001, PDF Version.

Working Papers for 2000 (back to top)

#476"Signaling Quality by Delaying Sales,"
Squintani, Francesco, October 2000, PDF Version.
#475"Accounting for Growth,"
Greenwood, Jeremy and Boyan Jovanovic, July 2000, PDF Version.
#474"Ambiguity, Risk and Asset Returns in Continuous Time,"
Chen, Zengjing and Larry G. Epstein, July 2000, PDF Version.
#473"Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based-Stabilizations,"
Burstein, Ariel T., Joao C. Neves, and Sergio Rebelo, May 2000, PDF Version.
#472"Higher Education Subsidies and Heterogeneity A Dynamic Analysis,"
Caucutt, Elizabeth M. and Krishna B. Kumar, May 2000, PDF Version.
#471"Macroeconomic Impacts of the Korean Financial Crisis: Comparison With the Cross-country Patterns,"
Lee, Jong-Wha and Changyong Rhee, May 2000, PDF Version.
#470"Measuring the Degree of Currency Misalignment Using Offshore Forward Exchange Rates: The Case of the Korean Financial Crisis ,"
Park, Daekun and Changyong Rhee, May 2000, PDF Version.
#469"The Core of Large Differentiable TU-Games,"
Epstein, Larry G. and Massimo Marinacci, April 2000, PDF Version.
#468"On the Fundamentals of Self-Fulfilling Speculative Attacks,"
Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo, February 2000, PDF Version.
#467"Resuscitating Real Business Cycles,"
King, Robert G. and Sergio T. Rebelo, January 2000, PDF Version.
#466"Women on Welfare: A Macroeconomic Analysis,"
Greenwood, Jeremy, Nezih Guner, and John A. Knowles, January 2000, PDF Version.

Working Papers for 1999 (back to top)

#465"Education, Work, and Crime: Theory and Evidence,"
Lochner, Lance, October 1999, PDF Version.
#464"Are Probabilities Used in Markets?,"
Epstein, Larry G., August 1999, PDF Version.
#463"Bidding Rings in Repeated Auctions,"
Skrzypacz, Andrzej and Hugo Hopenhayn, July 1999, PDF Version.
#462"On the State of the Union,"
Aiyagari, S. Rao, Jeremy Greenwood, and Nezih Guner, June 1999, PDF Version.
#461"Hedging and Financial Fragility in Fixed Exchange Rate Regimes,"
Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo, May 1999, PDF Version.
#460"The IT Revolution and the Stock Market,"
Greenwood, Jeremy and Boyan Jovanovic, January 1999, PDF Version.
#459"The First Conferences on the Theory of Economic Growth,"
McKenzie, Lionel, January 1999, PDF Version.

Working Papers for 1998 (back to top)

#458"Prospective Deficits and the Asian Currency Crisis,"
Burnside, Craig, Martin Eichenbaum, and Sergio Rebelo, November 1998, PDF Version.
#457"Measuring the Rate of Technological Progress in Structures,"
Gort, Michael, Jeremy Greenwood, and Peter Rupert, October 1998, PDF Version.
#456"Subjective Probabilities On Subjectively Unambiguous Events,"
Epstein, Larry G. and Jiankang Zhang, October 1998, PDF Version.
#455"Economies With Public Goods: An Elementary Geometric Exposition,"
Thomson, William, August 1998, PDF Version.
#454"On the Dynamics of Trade Reform,"
Albuquerque, Rui and Sergio Rebelo, July 1998, PDF Version.
#453"A Definition of Uncertainty Aversion,"
Epstein, Larry G., July 1998, PDF Version.
#452"A Revelation Principle for Competing Mechanisms,"
Epstein, Larry G. and Michael Peters, July 1998, PDF Version.
#451"Guidelines on Writing Referee Reports,"
Thomson, William, July 1998, PDF Version.
#450"Constrained Egalitarianism: A New Solution For Claims Problems,"
Chun, Youngsub, James Schummer, and William Thomson, July 1998, PDF Version.
#449"The Role of Investment-Specific Technological Change in the Business Cycle,"
Greenwood, Jeremy, Zvi Hercowitz, and Per Krusell, May 1998, PDF Version.
#448"Consistency and Its Converse: An Introduction,"
Thomson, William, February 1998, PDF Version.
#447"Turnpikes,"
McKenzie, Lionel W., January 1998, PDF Version.

Working Papers for 1997 (back to top)

#446"On the Axiomatic Method Part II: Its Scope and Recent Applications to Game Theory and Resource Allocation,"
Thomson, William, November 1997, PDF Version.
#445"On the Axiomatic Method Part I: A User's Guide,"
Thomson, William, November 1997, PDF Version.
#444"The Replacement Problem,"
Cooley, Thomas F., Jeremy Greenwood, and Mehmet Yorukoglu, August 1997, PDF Version.
#443"On the Determinants of Economic Growth,"
Rebelo, Sergio, August 1997, PDF Version.
#442"Semiparametric Efficient Estimation in Time Series,"
Hodgson, Douglas J., August 1997, PDF Version.
#441"What Happens When Countries Peg Their Exchange Rates? (The Real Side of Monetary Reforms),"
Rebelo, Sergio, August 1997, PDF Version.
#440"The Bricks of an Empire 1415-1999: 585 Years of Portuguese Emigration,"
das Neves, Joao Cesar and Stanley L. Engerman, June 1997, PDF Version.
#439"Optimal Dynamic Lending Contracts With Imperfect Enforceability,"
Albuquerque, Rui and Hugo A. Hopenhayn, April 1997, PDF Version.
#438"Beyond Balanced Growth,"
Kongsamut, Piyabha, Sergio Rebelo, and Danyang Xie, April 1997, PDF Version.
#437"Skilled Labor-Augmenting Technical Progress in U.S. Manufacturing,"
Kahn, James A. and Jong-soo Lim, February 1997, PDF Version.

Working Papers for 1996 (back to top)

#436"Effects of the Federal Individual Income Tax on Marriage and Divorce Decisions,"
Clarke, George R. G. and Robert P. Strauss, November 1996, PDF Version.
#435"The Third Industrial Revolution,"
Greenwood, Jeremy, October 1996, PDF Version.
#434"Education, Political Instability, and Growth,"
Kahn, James A., October 1996, PDF Version.
#433"Finite Horizons, Political Economy, and Growth,"
Kahn, James A. and Jong-soo Lim, October 1996, PDF Version.
#432"Vertical Markets in International Trade,"
Jones, Ronald W., October 1996, PDF Version.
#431"Monotonic Extensions on Economic Domains,"
Thomson, William, September 1996, PDF Version.
#430"Aggregate Employment Fluctuations With Microeconomic Asymmetries,"
Campbell, Jeffrey R. and Jonas D.M. Fisher, September 1996, PDF Version.
#429"1974,"
Greenwood, Jeremy and Mehmet Yorukoglu, September 1996, PDF Version.
#428"What Inventory Behavior Tells Us About Business Cycles,"
Bills, Mark and James A. Kahn, September 1996, PDF Version.
#427"On the Optimality of Interest Rate Smoothing,"
Rebelo, Sergio and Danyang Xie, September 1996, PDF Version.
#426"A Strong Incompatibility Between Efficiency and Equity in Non-Convex Economies,"
Maniquet, Francois, August 1996, PDF Version.
#425"Technology for Sale,"
Beladi, Hamid, Ronald W. Jones, and Sugata Marjit, August 1996, PDF Version.
#424"Assessing the Effects of School Resources on Student Performance: An Update,"
Hanushek, Eric A., August 1996, PDF Version.
#423"Two Derivations of the Uniform Rule and an Application to Bankruptcy,"
Schummer, James and William Thomson, July 1996, PDF Version.
#422"Policy Variability and Economic Growth,"
Hopenhayn, Hugo and Maria E. Muniagurria, July 1996, PDF Version.
#421"Optimal Unemployment Insurance,"
Hopenhayn, Hugo and Juan Pablo, July 1996, PDF Version.
#420"Long-Run Implications of Investment Specific Technological Change,"
Greenwood, Jeremy, Zvi Hercowitz, and Per Krusell, June 1996, PDF Version.
#419"Co linearity and Two-step Estimation of Sample Selection Models: Problems, Origins, and Remedies,"
Leung, Suit Fai and Shifty Yu, June 1996, PDF Version.
#418"Consistent Allocation Rules,"
Thomson, William, June 1996, PDF Version.
#417"Writing Papers,"
Thomson, William, June 1996, PDF Version.
#416"Robust Semiparametric Estimation in the Presence of Heterogeneity of Unknown Form,"
Hodgson, Douglas J., April 1996, PDF Version.
#415"Macroeconomic Effects of Employment Reallocation,"
Campbell, Jeffrey R. and Kenneth N. Suttner, March 1996, PDF Version.
#414"Matching Human Capital and Displacement,"
Chari, V. V. and Hugo A. Hopenhayn, February 1996, PDF Version.

Working Papers for 1995 (back to top)

#413"Axiomatic Analyses of Bankruptcy and Taxation Problems: A Survey,"
Thomson, William, October 1995, PDF Version.
#412"Sectoral Solow Residuals,"
Burnside,, A. Craig, Martin S. Eichenbaum, and Sergio T. Rebelo, October 1995, PDF Version.
#411"Schooling, Labor Force Quality, and Economic Growth,"
Hanushek, Eric and Dogwood Kim, September 1995, PDF Version.
#410"Adaptive Estimation of Error Correction Models,"
Hodgson, Douglas J., September 1995, PDF Version.
#409"Adaptive Estimation of Cointegrated Models: Simulation Evidence and an Application to the Forward Exchange Market,"
Hodgson, Douglas J., September 1995, PDF Version.
#408"Adaptive Estimation of Cointegrating Regressions With ARMA Errors,"
Hodgson, Douglas J., September 1995, PDF Version.
#407"Entry, Exit, Technology, and Business Cycles,"
Campbell, Jeffrey R., September 1995, PDF Version.
#406"Financial Markets in Development, and the Development of Financial Markets,"
Greenwood, Jeremy and Bruce D. Smith, August 1995, PDF Version.
#405"Real Effects of Exchange-Rate-Based Stabilization: An Analysis of Competing Theories,"
Rebelo, Sergio and Carlos A. Végh, June 1995, PDF Version.
#404"Measuring Intertemporal Substitution: The Role of Durable Goods,"
Ogaki, Masao and Carmen M. Reinhart, May 1995, PDF Version.
#403"The Replacement Principle in Economies With Indivisible Goods,"
Thomson, William, May 1995, PDF Version.
#402"Capital Utilization and Returns to Scale,"
Burnside, Craig, Martin Eichenbaum, and Sergio T. Rebelo, May 1995, PDF Version.
#401"Fundamental Nonconvexities in Arrovian Markets and a Coasian Solution to the Problem of Externalities,"
Boyd III, John H. and John P. Conley, May 1995, PDF Version.
#400"Axiomatic Analysis of Resource Allocation,"
Moulin, Hervé and William Thomson, March 1995, PDF Version.
#399"Income and Wealth Heterogeneity in the Macoeconomy,"
Krusell, Per and Anthony A. Smith Jr., March 1995, PDF Version.
#398"The Competitive Equilibrium Turnpike II,"
McKenzie, Lionel W., March 1995, PDF Version.
#397"Aggregation and the Estimated Effects of School Resources,"
Hanushek, Eric A., Steven G. Rivkin, and Lori L. Taylor, February 1995, PDF Version.

Working Papers for 1994 (back to top)

#396"Concepts of Implementation,"
Thomson, William, December 1994, PDF Version.
#395"Equilibrium, Trade, and Capital Accumulation,"
McKenzie, Lionel W., December 1994, PDF Version.
#394"The Cyclical Behavior of Job Creation and Job Destruction: A Sectoral Model,"
Greenwood, Jeremy, Glenn M. MacDonald, and Guang-Jia Zhang, November 1994, PDF Version.
#393"The Competitive Equilibrium Turnpike,"
McKenzie, Lionel W., November 1994, PDF Version.
#392"The Existence of Steady States in Multisector Capital Accumulation Models With Recursive Preferences,"
Boyd III, John H., November 1994, PDF Version.
#391"Repairing the Safety Net: Is the EITC the Right Patch?,"
Bird, Edward J., October 1994, PDF Version.
#390"International Trade and Business Cycles,"
Baxter, Marianne, September 1994, PDF Version.
#389"Children as Income Producing Assets: The Case of Teen Illegitimacy and Government Transfers,"
Clarke, George R. G. and Robert P. Strauss, August 1994, PDF Version.
#388"Understanding the 20th Century Explosion in U.S. School Costs,"
Hanushek, Eric A. and Steven G. Rivkin, August 1994, PDF Version.
#387"Interdependent Preferences and Status in Consumption: Empirical Evidence,"
Bush, Clarence A., July 1994, PDF Version.
#386"Seemingly Unrelated Singular Systems of Equations,"
Bush, Clarence A., July 1994, PDF Version.
#385"Interdependent Preferences and Status: A Taxonomy of Demand,"
Bush, Clarence A., July 1994, PDF Version.
#384"Generalized Inverse Estimation of Partial Elasticities of Substitution: A Complete Demand System With Exclusion Restrictions and Autoregressive Errors,"
Bush, Clarence A., July 1994, PDF Version.
#383"Tariffs and Aggregate Economic Activity: Lessons from the Great Depression,"
Crucini, Mario J. and James Kahn, July 1994, PDF Version.
#382"Business Cycles in a Small Open Economy,"
Correia, Isabel, João C. Neves, and Sergio Rebelo, June 1994, PDF Version.
#381"Uncertain Lifetime and Saving,"
Leung, Sui Fai, June 1994, PDF Version.
#380"Cooperative Models in Bargaining,"
Thomson, William, May 1994, PDF Version.
#379"Real Exchange Rates and Nontradables,"
Kakkar, Vikas and Masao Ogaki, May 1994, PDF Version.
#378"Rethinking the Univariate Approach to Unit Root Testing: Using Covariates to Increase Power,"
Hansen, Bruce E., May 1994, PDF Version.
#377"On the Contribution of Human Capital to Growth: Theory, Identification, and Evidence,"
Kahn, James and Jong-Soo Lim, April 1994, PDF Version.
#376"Refinements of the No-Envy Solution in Economies With Indivisible Goods,"
Tadenuma, Koichi and William Thomson, April 1994, PDF Version.
#375"Population-Monotonic Allocation Rules,"
Thomson, William, March 1994, PDF Version.
#374"Policy, Technology Adoption and Growth,"
Easterly, William, Robert King, and Ross Levine, March 1994, PDF Version.
#373"The Endogenous Formation of a City: Population Agglomeration and Marketplaces in a Location-Specific Production Economy,"
Berliant, Marcus and Hideo Konishi, March 1994, PDF Version.
#372"Singularity Theory and Core Existence in the Spatial Model,"
Banks, Jeffrey R., March 1994, PDF Version.
#371"Effective Federal Individual Income Tax Functions: An Exploratory Empirical Analysis,"
Gouveia, Miguel and Robert P. Strauss, January 1994, PDF Version.

Working Papers for 1993 (back to top)

#370"On the Existence of Nonoptimal Equilibria,"
Greenwood, Jeremy and Gregory W. Huffman, December 1993, PDF Version.
#369"The Core and Competitive Equilibria in Finite Economies,"
McKenzie, Lionel W., December 1993, PDF Version.
#368"Technology Choice, Overtaking and Comparative Advantage,"
Ohyama, Michihiro and Ronald W. Jones, December 1993, PDF Version.
#367"Inter-Industry Mobility and the Cyclical Upgrading of Labor,"
Bils, Mark and Kenneth J. McLaughlin, December 1993, PDF Version.
#366"Dynamic Deterrence Theory,"
Leung, Siu Fai, November 1993, PDF Version.
#365"A New Regression Specification Error Test,"
Leung, Siu Fai and Shihti Yu, November 1993, PDF Version.
#364"Unit Roots in Macroeconometrics: A Survey,"
Ogaki, Masao, October 1993, PDF Version.
#363"The Rate of Time Preference, the Intertemporal Elasticity of Substitution, and the Level of Wealth,"
Ogaki, Masao and Andrew Atkeson, October 1993, PDF Version.
#362"Population-Monotonic Solutions in Public Good Economies With Single-Peaked Preferences,"
Ching, Stephen and William Thomson, October 1993, PDF Version.
#361"Short-Run Independence of Monetary Policy Under Pegged Exchange Rates and Effects of Money on Exchange Rates and Interest Rates,"
Stockman, Alan C. and Lee E. Ohanian, September 1993, PDF Version.
#360"Divide and Permute and the Implementation of Solutions to the Problem of Fair Division,"
Thomson, William, September 1993, PDF Version.
#359"Does R&D Contribute to Economic Growth in Developing Countries?,"
Birdsall, Nancy and Changyong Rhee, August 1993, PDF Version.
#358"Bankruptcy and Expected Utility Maximization,"
Dutta, Prajit K., August 1993, PDF Version.
#357"Optimal Management of an R&D Budget,"
Dutta, Prajit K., August 1993, PDF Version.
#356"Moral Hazard,"
Dutta, Prajit K. and Roy Radner, August 1993, PDF Version.
#355"On the Cyclical Allocation of Risk,"
Gomme, Paul and Jeremy Greenwood, August 1993, PDF Version.
#354"Who Chooses to Teach (and Why)?,"
Hanushek, Eric A. and Richard R. Pace, August 1993, PDF Version.
#353"Switching Costs and the Gittins Index,"
Banks, Jeffrey S. and Rangarajan K. Sundaram, July 1993, PDF Version.
#352"Long-Lived Principals, Short-Lived Agents,"
Banks, Jeffrey and Rangarajan K. Sundaram, July 1993, PDF Version.
#351"Games of Fair Division,"
Tadenuma, Koichi and William Thomson, July 1993, PDF Version.
#350"The International Diversification Puzzle is Worse Than You Think,"
Baxter, Marianne and Urban J. Jermann, May 1993, PDF Version.
#349"CCR: A User Guide,"
Ogaki, Masao, April 1993, PDF Version.
#348"GMM: A User Guide,"
Ogaki, Masao, April 1993, PDF Version.
#347"Household Production in Real Business Cycle Theory,"
Greenwood, Jeremy, Richard Rogerson, and Randall Wright, April 1993, PDF Version.
#346"Achieving a General Consumption Set in an Infinite Model of Competitive Equilibrium,"
McKenzie, Lionel W., March 1993, PDF Version.
#345"Dropping Out of School: Further Evidence on the Role of School Quality in Developing Countries,"
Hanushek, Eric A. and Victor, March 1993, PDF Version.
#344"Selection in Insurance Markets,"
Landsburg, Steven E., March 1993, PDF Version.
#343"The Methodology of Normative Economics,"
Landsburg, Steven E., March 1993, PDF Version.
#342"Are Consumer Durables Important For Business Cycles?,"
Baxter, Marianne, February 1993, PDF Version.
#341"The Replacement Principle in Private Good Economies With Single-Peaked Preferences,"
Thomson, William, January 1993, PDF Version.
#340"The Replacement Principle in Public Good Economies With Single-Peaked Preferences,"
Thomson, William, January 1993, PDF Version.

Working Papers for 1992 (back to top)

#339"Information Aggregation and Strategic Trading in Speculative Markets,"
Dutta, Prajit K. and Ananth Madhaven, December 1992, PDF Version.
#338"Price Continuity Rules and Insider Trading,"
Dutta, Prajit K. and Ananth Madhaven, December 1992, PDF Version.
#337"On the Choice Between Sample Selection and Two-Part Models,"
Leung, Sui Fai and Shihti Yu, December 1992, PDF Version.
#336"Financial Market Linkages and the International Transmission of Fiscal Policy,"
Baxter, Marianne, November 1992, PDF Version.
#335"Residual-Based Tests for Cointegration in Models With Regime Shifts,"
Gregory, Allan W. and Bruce E. Hansen, November 1992, PDF Version.
#334"Existence of Equilibrium With Nonconvexities and Finitely Many Agents,"
Berliant, Marcus and Kari Dunz, October 1992, PDF Version.
#333"Taxation, Financing, and Corporate Investment in Plant and Equipment: A Macro-Econometric Model of Corporate Real and Financial Decisions,"
Nadeau, Serge J. and Robert P. Strauss, October 1992, PDF Version.
#332"Risk Aversion and International Markets: Does Asset Trade Smooth Income?,"
Feeney, JoAnne and Ronald W. Jones, September 1992, PDF Version.
#331"Regression With Non-Stationary Variances,"
Hansen, Bruce E., September 1992, PDF Version.
#330"Cotrending and the Stationarity of the Real Interest Rate,"
Chapman, David A. and Masao Ogaki, September 1992, PDF Version.
#329"Consistent Extensions,"
Thomson, William, August 1992, PDF Version.
#328"Risk, Seasonality and School Attendance: Evidence from Rural India,"
Jacoby, Hanan and Emmanuel Skoufias, August 1992, PDF Version.
#327"The Design of Bank Loan Contracts, Collateral, and Renegotiation,"
Gorton, Gary and James Kahn, July 1992, PDF Version.
#326"Liquidity of Secondary Capital Markets: Allocative Efficiency and the Maturity Composition of the Capital Stock,"
Bencivenga, Valerie R., Bruce D. Smith, and Ross M. Starr, June 1992, PDF Version.
#325"Do Open Market Operations Matter? Theory and Evidence from the Second Bank of the United States,"
Highfield, Richard A., Maureen O'Hara, and Bruce Smith, June 1992, PDF Version.
#324"Four Econometric Fashions and the Kalman Filter Alternative,"
Bomhoff, Eduard J., June 1992, PDF Version.
#323"Uncertain Lifetime, the Theory of the Consumer, and the Life Cycle Hypothesis,"
Leung, Siu Fai, June 1992, PDF Version.
#322"Autoregressive Conditional Density Estimation,"
Hansen, Bruce E., June 1992, PDF Version.
#321"An Economic Analysis of the Age-Crime Profile,"
Leung, Siu Fai, April 1992, PDF Version.
#320"Uniform Tariffs in General Equilibrium--A Simple Model,"
Marjit, Sugata, April 1992, PDF Version.
#319"Self-financing Educational Investments: The Quality Imperative in Developing Countries,"
Hanushek, Eric A., João Batista Gomes-Neto, and Ralph W. Harbison, March 1992, PDF Version.
#318"Educational Wage Differentials in Korea,"
Kwark, Noh-Sun and Changyong Rhee, March 1992, PDF Version.
#317"Non-Cooperative, Cooperative and Delegative R&D,"
Marjit, Sugata and Marianne Baxter, March 1992, PDF Version.
#316"Business Cycles and the Asset Structure of Foreign Trade,"
Baxter, Marianne and Mario Crucini, March 1992, PDF Version.
#315"Testing for Heteroskedasticity,"
Pagan, A. R. and Y. Pak, February 1992, PDF Version.
#314"An Introduction to the Generalized Method of Moments,"
Ogaki, Masao, February 1992, PDF Version.
#313"Superior Technology and LDC Firms,"
Marjit, Sugata and Hamid Beladi, January 1992, PDF Version.
#312"International Trade Endogenous Production Structures,"
Jones, Ronald W. and Sugata Marjit, January 1992, PDF Version.
#311"Factor Scarcity, Factor Abundance and Attitudes Towards Protection: The 3 x 3 Model,"
Jones, Ronald W., January 1992, PDF Version.
#310"Foreign Capital and Protectionism,"
Beladi, Hamid and Sugata Marjit, January 1992, PDF Version.
#309"A Competitive General Equilibrium Model of Technology Transfer, Innovation and Obsolescence,"
Marjit, Sugata, January 1992, PDF Version.
#308"To Transfer or Not to Transfer the Best Technology Under Threat of Entry--The Case of Price Competition,"
Kabiraja, Tarun and Sugata Marjit, January 1992, PDF Version.
#307"Multinational Entry, Expropriation and Contract Compliance Under a Boycott Threat,"
Moitra, Bhaswar and Sugata Marjit, January 1992, PDF Version.
#306"Health and Schooling: Evidence and Policy Implications for Developing Countries,"
Gomes-Neto, João Batista, Eric A. Hanushek, and Raimundo Helio Leite, January 1992, PDF Version.

Working Papers for 1991 (back to top)

#305"Consumption, Income, and Cointegration: Further Analysis,"
Han, Hsiang-Ling and Masao Ogaki, December 1991, PDF Version.
#304"A Consistent Test for the Null of Stationarity Against the Alternative of a Unit Root,"
Kahn, Jame A. and Masao Ogaki, December 1991, PDF Version.
#303"Wealth-Varying Intertemporal Elasticities of Substitution: Evidence from Panel and Aggregate Data,"
Atkeson, Andrew and Masao Ogaki, November 1991, PDF Version.
#302"Population-Monotonic Solutions to the Problem of Fair Division When Preferences are Single-Peaked,"
Thomson, William, November 1991, PDF Version.
#301"Resource-Monotonic Solutions to the Problem of Fair Division When Preferences are Single-Peaked,"
Thomson, William, November 1991, PDF Version.
#300"Optimal Principal Agent Contracts for a Class of Incentive Schemes: A Characterization and the Rate of Approach to Efficiency,"
Dutta, Prajit K. and Roy Radner, November 1991, PDF Version.
#299"The Folk Theorem for Discounted Repeated Games: A New Condition,"
Abreu, Dilip and Prajit K. Dutta, November 1991, PDF Version.
#298"A Foundation of Location Theory: Existence of Equilibrium, the Welfare Theorems and Core,"
Berliant, Marcus and Karl Dunz, October 1991, PDF Version.
#297"State and Federal Tax Equity: Estimates Before and After the Tax Reform Act of 1986,"
Berliant, Marcus and Robert P. Strauss, October 1991, PDF Version.
#296"Inference When a Nuisance Parameter is Not Identified Under the Null Hypothesis,"
Hansen, Bruce E., September 1991, PDF Version.
#295"The Causes and Effects of Grade Repetition: Evidence from Brazil,"
Gomes-Neto, João Batista and Eric A. Hanushek, September 1991, PDF Version.
#294"Consistent Allocation Rules in Atomless Economies,"
Thomson, William and Lin Zhou, September 1991, PDF Version.
#293"A Folk Theorem for Stochastic Games,"
Dutta, Prajit K., August 1991, PDF Version.
#292"Currency Elasticity and Banking Panics: Theory and Evidence,"
Champ, Bruce, Bruce D. Smith, and Stephen D. Williamson, August 1991, PDF Version.
#291"Horizontal and Vertical Equity: A Theoretical Framework and Empirical Results for the Federal Individual Income Tax 1966-1987,"
Berliant, Marcus C. and Robert P. Strauss, August 1991, PDF Version.
#290"Intermediation and the Equilibrium Allocation of Investment Capital: Implications for Economic Development,"
Boyd, John H. and Bruce D. Smith, August 1991, PDF Version.
#289"The Equilibrium Allocation of Investment Capital in the Presence of Adverse Selection and Costly State Verification,"
Boyd, John H. and Bruce D. Smith, August 1991, PDF Version.
#288"On the Political Economy of Income Taxation,"
Berliant, Marcus and Miguel Gouveia, August 1991, PDF Version.
#287"Government Borrowing Using Bonds With Randomly Determined Returns: Welfare Improving Randomization in the Context of Deficit Finance,"
Smith, Bruce D. and Anne P. Villamil, July 1991, PDF Version.
#286"Finite Horizon Optimization: Sensitivity and Continuity in Multi-Sectoral Models,"
Dutta, Prajit, July 1991, PDF Version.
#285"A Time Series Analysis of Real Wages, Consumption, and Asset Returns Under Optimal Labor Contracting: A Cointegration-Euler Equation Approach,"
Cooley, Thomas F. and Masao Ogaki, June 1991, PDF Version.
#284"Borrowing Constraints and School Attendance: Theory and Evidence from a Low Income Country,"
Jacoby, Hanan, June 1991, PDF Version.
#283"Adverse Selection and Moral Hazard in a Repeated Elections Model,"
Banks, Jeffrey S. and Rangarajan K. Sundaram, June 1991, PDF Version.
#282"Fundamental Value and Investment: Micro Data Evidence,"
Rhee, Changyong and Wooheon Rhee, June 1991, PDF Version.
#281"Inference in Cointegrated Models Using VAR Prewhitening to Estimate Shortrun Dynamics,"
Park, Joon Y. and Masao Ogaki, June 1991, PDF Version.
#280"Seemingly Unrelated Canonical Cointegrating Regressions,"
Park, Joon Y. and Masao Ogaki, June 1991, PDF Version.
#279"The Likelihood Ratio Test Under Non-Standard Conditions: Testing the Markov Trend Model of GNP,"
Hansen, Bruce E., May 1991, PDF Version.
#278"Two Index Theorems for Bandit Problems,"
Banks, Jeffrey S. and Rangarajan K. Sundaram, May 1991, PDF Version.
#277"Denumerable-Armed Bandits,"
Banks, Jeffrey S. and Rangarajan K. Sundaram, May 1991, PDF Version.
#276"Financial Markets, Specialization, and Learning by Doing,"
Cooley, Thomas F. and Bruce D. Smith, May 1991, PDF Version.
#275"Swedish Business Cycles: 1861-1988,"
Englund, Peter, Torsten Persson, and Lars E.O. Svensson, April 1991, PDF Version.
#274"Currency Convertibility: When and How? A Contribution to the Bulgarian Debate,"
Bomhoff, Eduard J., April 1991, PDF Version.
#273"Stability of Velocity in the G-8 Countries: A Kalman Filter Approach,"
Bomhoff, Eduard J., April 1991, PDF Version.
#272"Collusion, Discounting and Dynamic Games,"
Dutta, Prajit K., April 1991, PDF Version.
#271"A Job Search Model of Efficiency Wage Theory,"
Park, Daekeun and Changyong Rhee, March 1991, PDF Version.
#270"Dynamic Insider Trading,"
Dutta, Prajit and Annath Madhavan, March 1991, PDF Version.
#269"On the Parametric Continuity of Dynamic Programming Problems,"
Dutta, Prajit, Mukul Majumdar, and Rangarajan Sundaram, March 1991, PDF Version.
#268"The Allocation of Capital and Time Over the Business Cycle,"
Greenwood, Jeremy and Zvi Hercowitz, February 1991, PDF Version.
#267"Maximizing or Minimizing Expected Returns Prior to Hitting Zero,"
Dutta, Prajit, February 1991, PDF Version.
#266"The Welfare Costs of Moderate Inflations,"
Cooley, Thomas F. and Gary D. Hansen, February 1991, PDF Version.
#265"Tax Distortions in a Neoclassical Monetary Economy,"
Cooley, Thomas F. and Gary D. Hansen, February 1991, PDF Version.
#264"What Do Discounted Optima Converge To? A Theory of Discount Rate Asymptotics in Economic Models,"
Dutta, Prajit, January 1991, PDF Version.
#263"A Theory of Stopping Time Games With Applications to Product Innovations and Asset Sales,"
Dutta, Prajit and Aldo Rustichini, January 1991, PDF Version.
#262"Innovation and Product Differentiation,"
Dutta, Prajit, Saul Lach, and Aldo Rustichini, January 1991, PDF Version.
#261"How to Make the Fine Fit the Corporate Crime? An Analysis of Static and Dynamic Optimal Punishment Theories,"
Leung, Sui Fai, January 1991, PDF Version.
#260"The Business Cycle With Nominal Contracts,"
Cho, Jang-Ok and Thomas F. Cooley, January 1991, PDF Version.
#259"(s,S) Equilibria in Stochastic Games With an Application to Product Innovations,"
Dutta, Prajit and Aldo Rustichini, January 1991, PDF Version.
#258"Limit Integration Theorems for Monotone Functions With Applications to Dynamic Programming,"
Dutta, Prajit and Mukul Majumdar, January 1991, PDF Version.

Working Papers for 1990 (back to top)

#257"The Fair Allocation of an Indivisible Good When Monetary Compensations are Possible,"
Tadenuma, Kiochi and William Thomson, December 1990, PDF Version.
#256"Are there Cultural Effects on Savings?: Cross Sectional Evidence,"
Rhee, Byung-Kun and Changyong Rhee, December 1990, PDF Version.
#255"Tastes and Technologies in a Two-Country Model of the Business Cycle: Explaining International Comovements,"
Stockman, Alan C. and Linda L. Tesar, November 1990, PDF Version.
#254"The Existence of Competitive Equilibrium Over an Infinite Horizon With Production and General Consumption Sets,"
Boyd, John H. and Lionel W. McKenzie, November 1990, PDF Version.
#253"Competitive Diffusion,"
Jovanovic, Boyan and Glenn M. MacDonald, October 1990, PDF Version.
#252"On the Fair Division of a Heterogeneous Commodity,"
Berliant, Marcus, Karl Dunz, and William Thomson, October 1990, PDF Version.
#251"A Theory of Optimal Denominations for Government Liabilities,"
Cooley, Thomas F. and Bruce D. Smith, October 1990, PDF Version.
#250"Fiscal Policy, Specialization, and Trade in the Two-Sector Model: The Return of Ricardo?,"
Baxter, Marianne, October 1990, PDF Version.
#249"Aggregation of Intratemporal Preferences Under Complete Markets,"
Ogaki, Masao, September 1990, PDF Version.
#248"Australian Stock Market Volatility: 1875-1987,"
Kearns, P. and A.R. Pagan, September 1990, PDF Version.
#247"Estimating Linear Quadratic Model With Integrated Processes,"
Gregory, Allan W., Adrian Pagan, and Gregor W. Smith, September 1990, PDF Version.
#246"On the Concept of Economic Freedom,"
Jones, Ronald W. and Alan C. Stockman, September 1990, PDF Version.
#245"Productive Externalities and Cyclical Volatility,"
Baxter, Marianne and Robert G. King, September 1990, PDF Version.
#244"Fiscal Policy in General Equilibrium,"
Baxter, Marianne and Robert G. King, September 1990, PDF Version.
#243"Indivisible Assets, Equilibrium, and the Value of Intermediary Output,"
Cooley, Thomas F. and Bruce D. Smith, September 1990, PDF Version.
#242"How Different Can Strategic Models Be? Non-Existence, Chaos and Underconsumption in Markov-Perfect Equilibria,"
Dutta, Prajit and Rangarajan K. Sundaram, September 1990, PDF Version.
#241"Stochastic Games of Resource Allocation: Existence Theorems for Discounted and Undiscounted models,"
Dutta, Prajit and Rangarajan K. Sundaram, September 1990, PDF Version.
#240"Engel's Law and Saving,"
Atkeson, Andrew and Masao Ogaki, September 1990, PDF Version.
#239"A Class of Bandit Problems Yielding Myopic Optimal Strategies,"
Banks, Jeffrey S. and Rangarajan K. Sundaram, September 1990, PDF Version.
#238"Debt, Asymmetric Information, and Bankruptcy,"
Kahn, James A., August 1990, PDF Version.
#237"The Life-Cycle of a Competitive Industry: Theory and Measurement,"
Jovanovic, Boyan and Glenn M. Macdonald, August 1990, PDF Version.
#236"A Specification Test for a Model of Engel's Law and Saving,"
Ogaki, Masao and Andrew Atkeson, July 1990, PDF Version.
#235"Incumbents, Challenges, and Bandits: Bayesian Learning in a Dynamic Choice Model,"
Banks, Jeffrey S. and Rangarajan K. Sundaram, July 1990, PDF Version.
#234"Incentive Compatible Income Taxation, Individual Revenue Requirements and Welfare,"
Berliant, Marcus and Miguel Gouveia, June 1990, PDF Version.
#233"The Stock Market, Profit and Investment,"
Blanchard, Oliver, Changyong Rhee, and Lawrence Summers, June 1990, PDF Version.
#232"Choosing the Lesser Evil-Self Immiserization as a Strategic Choice,"
Sugata, Margit and Kunal Sengupta, June 1990, PDF Version.
#231"Monotonic and Consistent Solutions to the Problem of Fair Allocation When Preferences are Single Peaked,"
Thomson, William, May 1990, PDF Version.
#230"A Powerful, Simple Test for Cointegration Using Cochrane-Orcutt,"
Hansen, Bruce E., May 1990, PDF Version.
#229"Rigid Wages,"
McLaughlin, Kenneth, May 1990, PDF Version.
#228"Engel's Law and Cointegration,"
Ogaki, Masao, April 1990, PDF Version.
#227"World Real Interest Rates,"
Barro, Robert and Xavier Sala-i-Martin, April 1990, PDF Version.
#226"Regression Theory when Variances are Non-Stationary,"
Hansen, Bruce E., April 1990, PDF Version.
#225"Public Policy and Economic Growth: Developing Neoclassical Implications,"
King, Robert G. and Sergio T. Rebelo, March 1990, PDF Version.
#224"Explaining Saving/ Investment Correlations,"
Baxter, Marianne and Mario J. Crucini, March 1990, PDF Version.
#223"The Seasonal and Cyclical Behavior of Inventories,"
Kahn, James A., February 1990, PDF Version.
#222"Interest Rate Rules and Nominal Determinacy,"
Boyd, John H. and Michael Dotsey, February 1990, PDF Version.
#221"The Stolper-Samuelson Theorem: Links to Dominant Diagonals,"
Jones, Ronald W., Sugata Marjit, and Tapan Mitra, February 1990, PDF Version.
#220"The Stolper-Samuelson Theorem, the Leamer Triangle, and the Produced Mobile Factor Structure,"
Jones, Ronald W. and Sugata Marjit, February 1990, PDF Version.
#219"Equal Sacrifice and Incentive Compatible Income Taxation,"
Berliant, Marcus and Miguel Gouveia, 1990, PDF Version.
#218"Sectoral Employment and Cyclical Fluctuations in an Adverse Selection Model,"
Smith, Bruce D., January 1990, PDF Version.
#217"Alonso's Discrete Population Model of Land Use: Efficient Allocations and Competitive Equiibria,"
Berliant, Marcus and Masahisa Fujita, January 1990, PDF Version.
#216"I'm Not a High Quality Firm--But I Play One on T.V: A Model of Signaling Product Quality,"
Hertzendorf, Mark N., January 1990, PDF Version.
#215"Two-Sided Uncertainty in the Monopoly Agenda Setter Model,"
Banks, Jeffrey S., January 1990, PDF Version.
#214"Deficits, Inflation, and the Banking System in Developing Countries: The Optimal Degree of Financial Repression,"
Bencivenga, Valerie R. and Bruce D. Smith, January 1990, PDF Version.

Working Papers for 1989 (back to top)

#213"General Properties of Equilibrium Behavior in a Class of Asymmetric Information Games,"
Banks, Jeffrey S., January 1989, PDF Version.
#212"A Chi-Square Test for a Unit Root,"
Kahn, James A. and Masao Ogaki, January 1990, PDF Version.
#211"Endogenous Formation of a City Without Externalities or Market Imperfections,"
Berliant, Marcus and Ping Wang, December 1989, PDF Version.
#210"Money and Business Cycles: A Real Business Cycle Interpretation,"
Plosser, Charles I., December 1989, PDF Version.
#209"A Cointegration Approach to Estimating Preference Parameters,"
Ogaki, Masao, December 1989, PDF Version.
#208"Intertemporal Asset-Pricing Relationships in Barter and Monetary Economies: An Empirical Analysis,"
Finn, Mary G., Dennis L. Hoffman, and Don E. Schlagenhauf, December 1989, PDF Version.
#207"Value and Capital in the Equilibrium Business Cycle Program,"
King, Robert G., December 1989, PDF Version.
#206"Transitional Dynamics and Economic Growth in the Neoclassical Model,"
King, Robert G. and Sergio T. Rebelo, November 1989, PDF Version.
#205"Low Frequency Filtering and Business Cycles,"
King, Robert G. and Sergio T. Rebelo, October 1989, PDF Version.
#204"Real Business Cycles and the Test of the Adelmans,"
King, Robert G. and Charles I. Plosser, October 1989, PDF Version.
#203"Multiple and Sunspot Equilibria Under Interest Rate and Money Supply Rules,"
Smith, Bruce D., October 1989, PDF Version.
#202"Adverse Selection in the Overlapping Generations Model,"
Azariadis, Costas and Bruce D. Smith, October 1989, PDF Version.
#201"Economic Growth in a Cross Section of Countries,"
Barro, Robert J., September 1989, PDF Version.
#200"Dynamic Inefficiency in an Economy With Land,"
Rhee, Changyong, August 1989, PDF Version.
#199"A Simple Estimator for Simultaneous Models With Censored Endogenous Regressors,"
Vella, Frank, August 1989, PDF Version.
#198"Understanding Real Business Cycles,"
Plosser, Charles I., August 1989, PDF Version.
#197"Full Insurance in Presence of Aggregate Uncertainty,"
Mace, Barabara, August 1989, PDF Version.
#196"Communication and Efficiency in Coordination Games,"
Banks, Jeffrey S. and Randall Calvert, August 1989, PDF Version.
#195"Trade and Protection in Vertically Related Markets,"
Jones, Ronald W. and Barabara J. Spencer, August 1989, PDF Version.
#194"Vertical Foreclosure and International Trade Policy,"
Jones, Ronald W. and Barabara J. Spencer, August 1989, PDF Version.
#193"Transversality Condition and Optimality in a Class of Infinite Horizon Continuous Time Economic Models,"
Leung, Sui Fai, August 1989, PDF Version.
#192"The Consistency Principle,"
Thomson, William, August 1989, PDF Version.
#191"Market Equilibria With Non-Profit Firms,"
Phelps, Charles E. and Itai Sened, June 1989, PDF Version.
#190"Entry and Exit in Perfect Competition: Part 1: Theory,"
Jovanovic, Boyan and Glenn M. Macdonald, June 1989, PDF Version.
#189"Bargaining Problems With Claims,"
Chun, Youngsub and William Thomson, June 1989, PDF Version.
#188"The Cyclical Behaviour of Prices,"
Cooley, Thomas F. and Lee E. Ohanian, May 1989, PDF Version.
#187"New Classicals and Keyneysians, or the Good Guys and the Bad Guys,"
Barro, Robert J., May 1989, PDF Version.
#186"Government Spending in a Simple Model of Endogenous Growth,"
Barro, Robert J., May 1989, PDF Version.
#185"The Stock Market and Investment,"
Barro, Robert J., May 1989, PDF Version.
#184"Intertemporal Substitution and Lambda-Constant Comparative Statics,"
McLaughlin, Kenneth J., April 1989, PDF Version.
#183"Repeated Games, Finite Automata, and Complexity,"
Banks, Jeffrey S. and Rangarajan K. Sundaram, April 1989, PDF Version.
#182"New Predictions from the Economics of Unionism,"
MacDonald, Glenn M. and Christopher Robinson, March 1989, PDF Version.
#181"Nonparametric Hazard Estimation With Time Varying Discrete Covariates,"
Leung, Sui Fai and Wing Hung Wong, March 1989, PDF Version.
#180"Migration Between Home Country and Diaspora: An Economic Analysis,"
Hercowitz, Zvi and David Pines, March 1989, PDF Version.
#179"Output Growth, The Real Wage, and Employment Fluctuations,"
Hercowitz, Zvi and Michael Sampson, March 1989, PDF Version.
#178"No-Envy, Consistency and Monotonicity in Economies With Indivisibility,"
Thomson, William and Koichi Tadenuma, March 1989, PDF Version.
#177"Cooperative Models of Bargaining,"
Thomson, William, February 1989, PDF Version.
#176"Real Expectations : A Harmony Theoretic Approach to Decision Making Under Uncertainty,"
El-Gamal, Mahmoud, February 1989, PDF Version.
#175"Credible Borrowing Constraints With Renegotiable Debt,"
Kahn, James A., February 1989, PDF Version.
#174"Testing for Contracting Effects on Employment,"
Bils, Mark , January 1989, PDF Version.
#173"Externalities and Asymmetric Information,"
Greenwood, Jeremy and R. Preston McAfee, January 1989, PDF Version.
#172"The Tragedy of the Commons? A Characterization of Stationary Perfect Equilibrium in Dynamic Games,"
Data, Prajit and Rangarajan K. Sundaram, January 1989, PDF Version.
#171"Rational Response to Unprecedented Policies: The 1979 Change in Federal Reserve Operating Procedures,"
Baxter, Marianne, January 1989, PDF Version.
#170"The Indirect and Direct Substitution Effects,"
Ogaki, Masao, December 1988, PDF Version.
#169"Business Cycles, Stylized Facts, and the Exchange Rate Regime: Evidence from the United States,"
Baxter, Marianne, December 1988, PDF Version.
#168"Why is Production More Volatile than Sales? Theory and Evidence on the Stockout-Avoidance Motive for Inventory-Holding,"
Kahn, James A., December 1988, PDF Version.

Working Papers for 1988 (back to top)

#170"The Indirect and Direct Substitution Effects,"
Ogaki, Masao, December 1988, PDF Version.
#169"Business Cycles, Stylized Facts, and the Exchange Rate Regime: Evidence from the United States,"
Baxter, Marianne, December 1988, PDF Version.
#168"Why is Production More Volatile than Sales? Theory and Evidence on the Stockout-Avoidance Motive for Inventory-Holding,"
Kahn, James A., December 1988, PDF Version.
#167"Dynamic Real Trade Models: New Directions for Open Economy Macroeconomics,"
Baxter, Marianne, December 1988, PDF Version.
#166"Multipliers in Equilibrium Business Cycle Models,"
Baxter, Marianne and Robert G. King, November 1988, PDF Version.
#165"The Positive Economics of Methodology (Revised 10/89),"
Kahn, James A., Steven E. Landsburg, and Alan C. Stockman, November 1988, PDF Version.
#164"Tax Analysis in a Dynamic Stochastic Model: On Measuring Harberger Triangles and Okun Gaps,"
Greenwood, Jeremy and Gregory W. Huffman, November 1988, PDF Version.
#163"Efficiency Bound Calculations for a Time Series Model With Conditional Hereoskedasticity,"
Heaton, John C. and Masao Ogaki, November 1988, PDF Version.
#162"Diagnostic Tests for Models Based on Individual Data: A survey,"
Pagan, Adrian and Frank Vella, October 1988, PDF Version.
#161"Exchange Rates, the Current Account, and Monetary Policy,"
Stockman, Alan C., October 1988, PDF Version.
#160"Competitive Diffusion,"
Jovanovic, Boyan and Glenn M. Macdonald, September 1988, PDF Version.
#159"Some Consequences of Credit Rationing in an Endogenous Growth Model,"
Bencivenga, Valerie R. and Bruce D. Smith, September 1988, PDF Version.
#158"Symmetric Stochastic Games of Resource Extraction: The Existence of Non-Randomized Stationary Equilibrium,"
Mazumdar, Mukul K. and Rangarajan K. Sundaram, September 1988, PDF Version.
#157"A Test of the Harris Ergodicity of Stationary Dynamical Economic Models,"
Domowitz, Ian and Mahmoud El-Gamal, September 1988, PDF Version.
#156"Raw Materials, Processing Activities and Protectionism,"
Jones, Ronald W. and Barabara J. Spencer, September 1988, PDF Version.
#155"The Inflation Tax in a Real Business Cycle Model,"
Cooley, Thomas F. and Gary D. Hansen, August 1988, PDF Version.
#154"Savings, Investment and International Capital Flows,"
Tesar, Linda L., August 1988, PDF Version.
#153"Specialization, Transactions Technologies, and Money Growth,"
Cole, Harold and Alan C. Stockman, August 1988, PDF Version.
#152"Moral Hazard, Imperfect Risk Sharing, and the Behaviour of Asset Returns,"
Kahn, James A., August 1988, PDF Version.
#151"Asymptotic Likelihood Based Prediction Functions,"
Cooley, Thomas F. and William R. Parke, August 1988, PDF Version.
#150"A Business Cycle Model With Private Information,"
Smith, Bruce D., August 1988, PDF Version.
#149"A Model of Nominal Contracts,"
Smith, Bruce D., August 1988, PDF Version.
#148"The Ricardian Approach to Budget Deficits,"
Barro, Robert J., August 1988, PDF Version.
#147"Simple Methods of Estimation and Inference for Systems Characterized by Deterministic Chaos,"
El-Gamal, Mahmoud, August 1988, PDF Version.
#146"Appraising the Options for International Trade in Services,"
Jones, Ronald W. and Frances Ruane, July 1988, PDF Version.
#145"The Role of Services in Production And International Trade: A Theoretical Framework,"
Jones, Ronald W. and Henryk Kierzkowski, July 1988, PDF Version.
#144"Foreign Monopoly and Optimal Tariffs for the Small Open Economy,"
Jones, Ronald W. and Shumpei Takemori, July 1988, PDF Version.
#143"Wage Sensitivity Rankings and Temporal Convergence,"
Jones, Ronald W. and Peter Neary, July 1988, PDF Version.
#142"Co-Movements in Relative Commodity Prices and International Capital Flows: A Simple Model,"
Jones, Ronald W., July 1988, PDF Version.
#141"Rent Sharing in an Equilibrium Model of Matching and Turnover,"
McLaughlin, Kenneth J., June 1988, PDF Version.
#140"Business Cycles and the Exchange Rate System: Some International Evidence,"
Baxter, Marianne and Alan C. Stockman, June 1988, PDF Version.
#139"Approximating Suboptimal Dynamic Equilibria: An Euler Equation Approach,"
Baxter, Marianne, June 1988, PDF Version.
#138"Self-Fullfilling Expectations, Speculative Attacks and Capital Controls,"
Dellas, Harris and Alan C. Stockman, June 1988, PDF Version.
#137"Some Simulation Studies of Non-Parametric Estimators,"
Hong, Y. and Adrian Pagan, June 1988, PDF Version.
#136"Characterizing the Nash Bargaining Solution Without Pareto-Optimality,"
Terje, Lensberg and William Thomson, May 1988, PDF Version.
#135"Non-Parametric Estimation and the Risk Premium,"
Pagan, Adrian and Y. Hong, May 1988, PDF Version.
#134"Nash Solution and Uncertain Disagreement Points,"
Chun, Youngsub and William Thomson, May 1988, PDF Version.
#133"A Refinement and Extension of the No-Envy Concept,"
Diamantaras, Dimitrios and William Thomson, May 1988, PDF Version.
#132"Employment and Hours Over the Business Cycle,"
Cho, Jank-ok and Thomas F. Cooley, May 1988, PDF Version.
#131"Financial Development. Growth, and the Distribution of Income,"
Greenwood, Jeremy and Boyan Jovanovic, May 1988, PDF Version.
#130"Government Spending in a Simple Model of Endogenous Growth,"
Barro, Robert J., May 1988, PDF Version.
#129"Post-Sample Prediction Tests for Generalized Method of Moment Estimators,"
Stockman, Dennis and Adrian Pagan, April 1988, PDF Version.
#128"Real Exchange Rate Variability Under Pegged and Floating Nominal Exchange Rate Systems: An Equilibrium Theory,"
Stockman, Alan C., April 1988, PDF Version.
#127"Equilibrium Marketing Strategies: Is there Advertising, in Truth?,"
Horstmann, Ignatius J. and Glenn M. Macdonald, March 1988, PDF Version.
#126"What Can be Done With Bad School Performance Data?,"
Hanushek, Eric A. and Lori Taylor, March 1988.
#125"Unemployment, the Variability of Hours, and the Persistence of "Disturbances": A Private Information Approach,"
Smith, Bruce D., March 1988, PDF Version.
#124"Financial Intermediation and Endogenous Growth,"
Bencivenga, Valerie R. and Bruce D. Smith, March 1988, PDF Version.
#123"Capital Accumulation in the Theory of Long Run Growth,"
Romer, Paul M., March 1988, PDF Version.
#122"Bank Runs in Open Economies and the International Transmission of Panics,"
Garber, Peter M. and Vittorio U. Grilli, March 1988, PDF Version.
#121"Financial Deregulation, Monetary Policy, and Central Banking,"
King, Robert G. and Marvin Goodfriend, February 1988, PDF Version.
#120"International Financial Intermediation and Aggregate Fluctuations Under Alternative Exchange Rate regimes,"
Greenwood, Jeremy and Stephen D. Williamson, February 1988, PDF Version.
#119"Interest on Reserves and Sunspot Equilibria: Friedman's Proposal Reconsidered,"
Smith, Bruce D., February 1988, PDF Version.
#118"Adverse Selection, Aggregate Uncertainty, and the Role for Mutual Insurance Companies,"
Smith, Bruce D. and Michael J. Stutzer, February 1988, PDF Version.

Working Papers for 1987 (back to top)

#117"Monotonic Allocation Mechanisms In Economics With Public Goods,"
Thomson, William, December 1987, PDF Version.
#116"Monotonic Allocation Mechanisms,"
Thomson, William, December 1987, PDF Version.
#115"Bargaining Solutions and Stability of Groups,"
Chun, Youngsub and William Thomson, December 1987, PDF Version.
#114"Program Targeting Options and the Elderly,"
Hanushek, Eric A. and Roberton Williamson, December 1987, PDF Version.
#113"The Econometric Analysis of Models With Risk Terms,"
Pagan, Adrian and Aman Ullah, December 1987, PDF Version.
#112"Inflation and Stock Returns With Complete Markets,"
Cooley, Thomas F. and Jon Sonstelie, November 1987, PDF Version.
#111"Fiscal Policies and the Dollar/Pound Exchange Rate,"
Grilli, Vittorio U., November 1987, PDF Version.
#110"Microfoundations of Indivisible Labor,"
Grilli, Vittorio U. and Richard Rogerson, November 1987, PDF Version.
#109"Exchange Rate Variability and Asset Trade,"
Persson, Torsten and Lars E. O. Svensson, November 1987, PDF Version.
#108"Social Contracts as Assets: A Possible Solution to the Time-Consistency Problem,"
Ktlikoff, Laurence J., Torsten Persson, and Lars E.O. Svensson, November 1987, PDF Version.
#107"Credibility of Macroeconomic Policy,"
Persson, Torsten, November 1987, PDF Version.
#106"Predictive Efficiency for Simple Nonlinear Models,"
Cooley, Thomas F., William R. Parke, and Siddhartha Chib, October 1987, PDF Version.
#105"Recurrent Advertising,"
Horstmann, Ignatius J. and Glenn M. Macdonald, October 1987, PDF Version.
#104"On the Inconsistency of the MLE in Certain Heteroskedastic Regression Models,"
Pagan, Adrian and H. Sabau, October 1987, PDF Version.
#103"The Quit-Layoff Distinction in a Joint Wealth Maximizing Approach to Labor Turnover,"
McLaughlin, Kenneth J., October 1987, PDF Version.
#102"Legal Restrictions, "Sunspots", and Cycles,"
Smith, Bruce D., October 1987, PDF Version.
#101"Bank Panics, Suspensions, and Geography: Some Notes on the "Contagion of Fear" in Banking,"
Smith, Bruce D., October 1987, PDF Version.
#100"Money and Inflation in the American Colonies: Further Evidence on the Failure of the Quantity Theory,"
Smith, Bruce D., October 1987, PDF Version.
#99"Axioms Concerning Uncertain Disagreement Points for Two-Person Bargaining Problems,"
Chun, Youngsub, September 1987, PDF Version.
#98"Supply and Equilibrium in an Economy With Land and Production,"
Berliant, Marcus and Hou-Wen Jeng, September 1987, PDF Version.
#97"The Trade-off Between Child Quantity and Quality: Some Empirical Evidence,"
Hanushek, Eric A., September 1987, PDF Version.
#96"Endogenous Financial Structure in an Economy With Private Information,"
Kahn, James A., August 1987, PDF Version.
#95"On Welfare Theory and Urban Economics,"
Berliant, Marcus, Yorgos Y. Papageoriou, and Ping Wang, August 1987, PDF Version.
#94"Twenty Years After: Econometrics , 1966-1986,"
Pagan, Adrian, August 1987, PDF Version.
#93"On Modelling the Natural Rate of Unemployment With Indivisible Labor,"
Greenwood, Jeremy and Gregory W. Huffman, July 1987, PDF Version.
#92"Aspects of Tournament Models,"
McLaughlin, Kenneth J., July 1987, PDF Version.
#91"Do Wages Vary In Cities? An Empirical Study of Urban Labor Markets,"
Hanushek, Eric A., June 1987, PDF Version.
#90"Empirical Examinations of the Information Sets of Economic Agents,"
Gottfries, Nils and Torsten Persson, June 1987, PDF Version.
#89"Rational Expectations Models With Censored Variables,"
Baxter, Marianne, June 1987, PDF Version.
#88"Trade in Risky Assets,"
Svensson, Lars E. O., May 1987, PDF Version.
#87"Can Everyone Benefit from Growth? Three Difficulties,"
Moulin, Herve and William Thomson, May 1987, PDF Version.
#86"The Cyclicality of Labor Turnover: A Joint Wealth Maximizing Hypothesis,"
McLaughlin, Kenneth J., May 1987, PDF Version.
#85"Rent Sharing and Turnover in a Model With Efficiency Units of Human Capital,"
McLaughlin, Kenneth J., May 1987, PDF Version.
#84"Equilibrium in Cooperative Games of Policy Formulation,"
Cooley, Thomas F. and Bruce D. Smith, May 1987, PDF Version.
#83"Cyclical Pricing of Durable Luxuries,"
Bils, Mark, May 1987, PDF Version.
#82"Interest Rate Smoothing,"
Barro, Robert J., May 1987, PDF Version.
#81"The Equilibrium Approach to Exchange Rates,"
Stockman, Alan C., April 1987, PDF Version.
#80"Interest Rate Smoothing and Price Level Trend Stationarity,"
Goodfriend, Marvin, April 1987, PDF Version.
#79"Stochastic Trends and Economic Fluctuations,"
King, Robert, Charles I. Plosser, and James Stock, April 1987, PDF Version.
#78"The Economics of Rising Stars,"
McDonald, Glenn M., April 1987, PDF Version.
#77"Bargaining Problems With Uncertain Disagreement Points,"
Chun, Youngsub and William Thomson, April 1987, PDF Version.
#76"Notions With Equal Opportunities,"
Thomson, William, April 1987, PDF Version.
#75"The Product-Cycle Hypothesis and the Heckscher-Ohlin-Samuelson Theory of International Trade,"
Margit, Sugata, April 1987, PDF Version.
#74"Social Security, Liquidity, and Early Retirement,"
Kahn, James A., March 1987, PDF Version.
#73"The Quit-Layoff Distinction: Growth Effects,"
McLaughlin, Kenneth J., February 1987, PDF Version.
#72"On the Continuum Approach of Spatial and Some Local Public Goods or Product Differentiation Models,"
Berliant, Marcus and Thijs ten Raa, January 1987, PDF Version.
#71"Why a Stubborn Conservative Would Run a Deficit: Policy With Time Consistent Preferences,"
Persson, Torsten and Lars E. O. Svensson, January 1987, PDF Version.

Working Papers for 1986 (back to top)

#70"Growth Based on Increasing Returns Due to Specialization,"
Romer, Paul M., January 1986, PDF Version.
#69"Money and Market Incompleteness in Overlapping Generations Models,"
Baxter, Marianne, January 1987, PDF Version.
#68"Recursive Utility and Optimal Capital Accumulation, I: Existence,"
Becker, Robert A., John H. Boyd, and Bom Yong Sung, January 1987, PDF Version.
#67"Inventories and the Volatility of Production,"
Kahn, James A., December 1986, PDF Version.
#66"Further Evidence on the Relation Between Fiscal Policy and the Term Structure,"
Plosser, Charles I., December 1986, PDF Version.
#65"The Quit-Layoff Distinction: Empirical Regularities,"
McLaughlin, Kenneth J., December 1986, PDF Version.
#64"Increasing Returns, Speciaization and External Economies: Growth as Described by Allyn Young,"
Romer, Paul M., December 1986, PDF Version.
#63"A Note on Income Taxation and the Core,"
Berliant, Marcus, December 1986, PDF Version.
#62"Symmetries, Equilibria, and the Value Function,"
Boyd, John H., December 1986, PDF Version.
#61"Who Leaves Whom in Durable Trading Matches,"
McLaughlin, Kenneth J., October 1986, PDF Version.
#60"Recursive Utility and the Ramsey Problem,"
Boyd, John H., October 1986, PDF Version.
#59"Information Production, Evaluation Risk, and Optimal Contracts,"
Hargraves, Monica and Paul M. Romer, September 1986, PDF Version.
#58"On the Nature of Unempoyment in Economies With Efficiency Risk Sharing,"
Rogerson, Richard and Randall Wright, September 1986, PDF Version.
#57"Time Consistency of Fiscal and Monetary Policy,"
Persson, Mats, Torsten Persson, and Lars E.O. Svensson, September 1986, PDF Version.
#56"Indivisible Labor, Experience, and Intertemporal Allocations,"
Grilli, Vittorio U. and Richard Rogerson, September 1986, PDF Version.
#55"Nonlabor Supply Responses to the Income Maintenance Experiments,"
Hanushek, Eric A., August 1986, PDF Version.
#54"The Welfare Theorems and Economies With Land and a Finite Number of Traders,"
Berliant, Marcus and Karl Dunz, July 1986, PDF Version.
#53"The Tulipmania Legend,"
Garber, Peter M., July 1986, PDF Version.
#52"Secrecy, Speculation, and Policy (Revised),"
King, Robert G., August 1986, PDF Version.
#51"Job Mobility in Market Equilibrium,"
MacDonald, Glenn M., August 1986, PDF Version.
#50"Nominal Surprises, Real Factors and Propagation Mechanisms,"
King, Robert G. and Charles I. Plosser, July 1986, PDF Version.
#49"Money and Business Cycles: Comments on Bernanke and Related Literature,"
King, Robert G., July 1986, PDF Version.
#48"Exchange Rate a Policy, Wage Formation, and Credibility,"
Horn, Henrik and Torsten Persson, June 1986, PDF Version.
#47"An Operational Theory of Monopoly Union-Competetive Firm Interaction,"
MacDonald, Glenn M. and Chris Robinson, June 1986, PDF Version.
#46"Formula Budgeting: The Economics and Analytics of Fiscal Policy Under Rules,"
Hanushek, Eric A., June 1986, PDF Version.
#45"Ski-Lift Pricing, With Appilications to Labor and Other Markets,"
Barro, Robert J. and Paul M. Romer, May 1986, PDF Version.
#44"Job Mobility and the Information Content of Equilibrum Wages: Part 1,"
MacDonald, Glenn M., June 1986, PDF Version.
#43"An Operational Theory of Monopoly Union-Competetive Firm Interaction,"
MacDonald, Glenn M. and Chris Robinson, June 1986, PDF Version.
#42"Smooth Valuation Functions and Determinacy With Infinitely Lived Consumers,"
Kehoe, Timothy J., David K. Levine, and Paul M. Romer, April 1986, PDF Version.
#41"Sector Disturbances, Government Policies, and Industrial Output in Seven European Countries,"
Stockman, Alan C., April 1986, PDF Version.
#40"Employment Relations in Dual Labor Markets,"
Oi, Walter Y., April 1986, PDF Version.
#39"The Economics of Schooling: Production and Efficiency in Public Schools,"
Hanushek, Eric A., April 1986, PDF Version.
#38"Investment, Capacity Utilization and the Real Business Cycle,"
Greenwood, Jeremy and Zwi Hercowitz, April 1986, PDF Version.
#37"Large-Scale Tax Reform: The Example of Employer Paid Health Insurance Premiums,"
Phelps, Charles E., March 1986, PDF Version.
#36"Fiscal Policies and International Financial Markets,"
Stockman, Alan C., March 1986, PDF Version.
#35"Price Contracts, Output, and Monetary Disturbances,"
Stockman, Alan C., March 1986, PDF Version.
#34"Risk Sharing, Indivisible Labor, and Aggregate Fluctuations,"
Rogerson, Richard, February 1986, PDF Version.
#33"Oil Price Shocks and the Dispersion Hypothesis,1900-1980,"
Lougani, Prakash, January 1986, PDF Version.

Working Papers for 1985 (back to top)

#32"Sticky Goods Prices, Flexible Asset Prices, Monopolistic Competetion, and Monetary Policy,"
Svensson, Lars E. O., September 1985, PDF Version.
#31"Pricing in a Customer Market,"
Bils, Mark, September 1985, PDF Version.
#30"The Cyclical Behaviour of Marginal Cost and Price (Revised),"
Bils, Mark, November 1985, PDF Version.
#29"The Solidarity Axiom for Quasi-Linear Social Choice Problems,"
Chun, Youngsub, November 1985, PDF Version.
#28"Investment Banking Contracts in a Speculative Attack Environment: Evidence from the 1890's,"
Grilli, Vittorio U., November 1985, PDF Version.
#27"Increasing Returns and Long Run Growth,"
Romer, Paul M., October 1985, PDF Version.
#26"A Reformulation of the Economic Theory of Fertility,"
Becker, Gary S. and Robert J. Barro, October 1985, PDF Version.
#25"Exchange Controls, Capital Controls, and International Financial Markets,"
Stockman, Alan C. and Hernandez Alejandro, September 1985, PDF Version.
#24"On the Indeterminacy of Capital Accumulation Paths,"
Boldrin, Michele and Luigi Montrucchio, August 1985, PDF Version.
#23"The Dyanamic Behaviour of College Enrollment Rates: The Effect of Baby Booms and Busts,"
Alsalam, Nabeel, October 1985, PDF Version.
#22"International Borrowing and Time-Consistent Fiscal Policy,"
Persson, Torsten and Lars E. O. Svensson, August 1985, PDF Version.
#21"The Effect of Cohort Aize on Earnings: An Examination of Substitution Relationships,"
Alsalam, Nabeel, September 1985, PDF Version.
#20"Credible Pricing and the Possibility of Harmful Regulation,"
Woroch, Glenn A., September 1985, PDF Version.
#19"Monotonically Decreasing Natural Resource: Prices Under Perfect Foresight,"
Romer, Paul M. and Hiroo Sasaki, February 1985, PDF Version.
#18"Regulatory Risk, Investment, and Welfare,"
Woroch, Glenn A., July 1985, PDF Version.
#17"Reputation in a Model of Monetary Policy With Incomplete Information,"
Barro, Robert J., July 1985, PDF Version.
#16"A Positive Analysis of Multiproduct Firms in Market Equilibrium,"
MacDonald, Glenn M. and Alan D. Slivinski, July 1985, PDF Version.
#15"Minute by Minute: Efficiency, Normality, and Randomness in Intradaily Asset Prices,"
Feinstone, Lauren, June 1985, PDF Version.
#14"Average Marginal Tax Rates from Social Security and the Individual Income Tax,"
Barro, Robert J. and Chaipat Sahasakul, June 1985, PDF Version.
#13"Cake Eating, Chattering and Jumps: Existence Results for Variational Problems,"
Romer, Paul M., May 1985, PDF Version.
#12"Recent Developments in the Theory of Rules Versus Discretion,"
Barro, Robert J., May 1985, PDF Version.
#11"Hours Per Worker, Employment, Unemployment and Duration of Employment: An Equilibrium Model,"
Rogerson, Richard, April 1985, PDF Version.
#10"Indivisible Labour, Lotteries and Equilibrium,"
Rogerson, Richard, April 1985, PDF Version.
#9"An Equilibrium Model of Involuntary Unemployment,"
Rogerson, Richard, April 1985, PDF Version.
#8"Recursive Competitive Equilibrium With Nonconvexities: An Equilibrium Model of Hours Per Worker and Employment,"
Rogerson, Richard, April 1985, PDF Version.
#7"The Emergence of Dynamic Complexities in Models of Optimal Growth: The Role of Impatience,"
Boldrin, Michele and Luigi Montrucchio, April 1985, PDF Version.
#6"Two aspects of the Axiomatic Theory of Bargaining,"
Thomson, William, April 1984, PDF Version.
#5"Monotonicity Properties of Bargaining Solutions When Applied to Economics,"
Chun, Youngsub and William Thomson, April 1985, PDF Version.
#4"The Theory of International Factor Flows: The Basic Model,"
Jones, Ronald W., Isaias Coeho, and Stephen T. Easton, March 1985, PDF Version.
#3"Capital Flows, Investment, and Exchange Rates,"
Stockman, Alan C. and Lars E. O. Svensson, March 1985, PDF Version.
#2"Tax Effects and Transaction Costs for Short Term Market Discount Bonds,"
Romer, Paul M., March 1985, PDF Version.
#1"Government Spending, Interest Rates, Prices and Budget Deficits in the UK, 1730-1918*,"
Barro, Robert J., March 1985, PDF Version.

 



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