Staff

Administrative Assistant: Terry Fisher
585-275-3686
tmfi@troi.cc.rochester.edu

Secretary: Christine Massaro
585-273-4901
wipe@troi.cc.rochester.edu

WORKING PAPERS

This is a list of RCER Working Papers from 1996 to the present. For a list of the papers from 1991 to 1995, click here . See below for ordering information.

[2009 |2008 |2007 |2006 |2005 | 2004 |2003 | 2002 | 2001 |2000 |1999 |1998 |1997 |1996 ]

Working Papers for 2009
#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 Thomson, William , 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 Guner, Nezih , May 2009, PDF Version.
#549	"Bertrand competition in markets with fixed costs," Saporiti, Alejandro and Colomaz, Germán, May 2009, PDF Version. Revised version of #541
#548	"Accounting for Global Dispersion of Current Accounts," Chang, Yongsung, and Kim, Sun-Bin Kim, and Lee, Jaewoo , May 2009, PDF Version.
#547	"Comparative Advantage and Unemployment," Bils, Mark, Chang, Yongsung, and Kim, Sun-Bin Kim, May 2009, PDF Version.
#545	"Borrowing-proofness," Thomson, William, January 2009, PDF Version.
Working Papers for 2008
#544	"Tough Love and Intergenerational Altruism," Bhatt, Vipul, and Ogaki, Masao , November 2008, PDF Version.
#543	"Heterogeneity and Cyclical Unemployment," Bils, Mark, Chang, Yongsung, and Kim, Sun-Bin, October 2008, PDF Version.
#542	"Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?," An, Sungbae, Chang, Yongsung, and Kim, Sun-Bin, September 2008, PDF Version.
#541	"Bertrand's price competition in markets with fixed costs," Saporiti, Alejandro and Colomaz, Germán, September 2008, PDF Version.
#540	"Comparative Advantage in Cyclical Unemployment," Bils, Mark , Chang, Yongsung and Kim, Sun-Bin, January 2008, PDF Version.
Working Papers for 2007 (back to top)
#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 Thomson, William, 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. Revised version of #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. Revised version of #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, and Igor Kopylov, March 2006, PDF Version. Original Version of #533
#524	"Nash Equilibria in Quantum Games," Landsberg, 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. Revised version of #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. Revised version of #507
#518	"Non-Bayesian Updating: a Theoretical Framework," Epstein, Larry G., Jawwad Noor, and Alvaro Sandroni, July 2005, PDF Version.
#517	"Structural Spurious Regressions and A Hausman-type Cointegration Test," Choi, Chi-Young, Ling Hu, and Masao Ogaki, May 2005, PDF Version.
#516	"Looking Back: Marriage, Divorce and Out-of-Wedlock Births," Aiyagari, S.Rao, Jeremy Greenwood, and Nezih Guner, May 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, April 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. Original Version of #519
#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 the Exchange Rates and the Term Structure of Interest Rates," Lim, Hyoung-Seok, and Masao Ogaki, November 2003, PDF Version.
#503	"Engines of Liberation," Greenwood, Jeremy, Ananth Seshadri, and Mehmet Yorukoglu, October 2003, PDF Version.
#502	"Structural Error Correction Models : Instrumental Variables Method 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?," Fatih Guvenen, March 2003. PDF Version.
Working Papers for 2002 (back to top)
#498	"An Axiomatic Model of non-Bayesian Updating," Epstein, Larry, October 2002, PDF Version. Original Version of #521
#497	"Learning under Ambiguity," Epstein, Larry, and Martin Schneider, October 2002, PDF Version. Original Version of #527
#496	"IID : Independently and Indistinguishably Distributed," Epstein, Larry and Martin Schneider, October 2002, PDF Version.
#495	"Pairwise Comparison Estimation of Censored Transformation Models," Khan, Shakeeb, and Elie Tamer, October 2002, PDF Version.
#494	"Individual Accountability in Teams," Marx, Leslie M., and Francesco Squintani, June 2002, PDF Version.
#493	"Optimal Lending Contracts and Firm Dynamics," Albuquerque, Rui, and Hugo Hopenhayn, June 2002, PDF Version.
#492	"A Theory of Financing Constraints and Firm Dynamics," Clementi, Gian 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 Mariage, 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 US 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, July 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 Misalignement 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 T.Rebelo, January 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.
#461	"Hedging and Financial Fragilities 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.
#457	"Measuring the Rate of Technological Progress in Structures," Gort, Michael, Jeremy Greenwood, and Peter Rupert, October 1998.
#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.
#454	"On The Dynamics of Trade Reform," Albuquerque, Rui, and Sergio Rebelo, July 1998.
#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.
#450	"Constrained Egalitarianism: A New Solution For Claims Problems," Chun, Youngsub, James Schummer, and William Thomson, July 1998.
#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.
#447	"Turnpikes," McKenzie, Lionel W., January 1998.
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.
#445	"On the Axiomatic Method Part I: A User's Guide," Thomson, William , November 1997.
#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.
#442	"Semiparametric Efficient Estimation in Time Series," Hodgson, Douglas J., August 1997.
#441	"What Happens When Countries Peg Their Exchange Rates? (The Real Side of Monetary Reforms," Rebelo, Sergio, August 1997.
#440	"The Bricks of an Empire 1415-1999: 585 Years of Portuguese Emigration," das Neves, Joao Cesar, and Stanley L. Engerman, June 1997.
#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.
#437	"Skilled Labor-Augmenting Technical Progress in U.S. Manufacturing," Kahn, James A., and Jong-soo Lim, February 1997.
Working Papers for 1996 (back to top)
#436	"Effect of the Federal Individual Income Tax on Marriage and Divorce Decisions," Clarke, George R. G., and Robert P. Strauss, November 1996.
#435	"The Third Industrial Revolution," Greenwood, Jeremy, October 1996. Abstract.
#434	"Education, Political Instability, and Growth," Kahn, James A., October 1996.
#433	"Finite Horizons, Political Economy, and Growth," Kahn, James A., and Jong-Soo Lim, October 1996.
#432	"Vertical Markets in International Trade," Jones, Ronald W., October 1996.
#431	"Monotonic Extensions on Economic Domains," Thomson, William, September 1996.
#430	"Aggregate Employment Fluctuations with Microeconomic Asymmetries," Campbell, Jeffrey R., and Jonas D.M. Fisher, September 1996.
#429	"1974," Greenwood, Jeremy, and Mehmet Yorukoglu, September 1996. Abstract.
#428	"What Inventory Behavior Tells Us About Business Cycles?," Bills, Mark, and James A. Kahn, September 1996.
#427	"On the Optimality of Interest Rate Smoothing," Rebelo, Sergio, and Danyang Xie, September 1996.
#426	"A Strong Incompatibility Between Efficiency and Equity in Non-Convex Economies," Maniquet, François, August 1996.
#425	"Technology for Sale," Beladi, Hamid, Ronald W. Jones, and Sugata Marjit, August 1996.
#424	"Assessing the Effects of School Resources on Student Performance: An Update," Hanushek, Eric A., August 1996.
#423	"Two Derivations of the Uniform Rule and an Application to Bankruptcy," Schummer, James, and William Thomson, July 1996.
#422	"Policy Variability and Economic Growth," Hopenhayn, Hugo, and Maria E. Muniagurria, July 1996.
#421	"Optimal Unemployment Insurance," Hopenhayn, Hugo, and Juan Pablo Nicolini, July 1996.
#420	"Long-Run Implications of Investment Specific Technological Change," Greenwood, Jeremy, Zvi Hercowitz, and Per Krusell, June 1996. Abstract
#419	"Collinearity and Two-step Estimatino of Sample Selection Models: Problems, Origins, and Remedies," Leung, Siu Fai, and Shihti Yu, June 1996.
#418	"Consistent Allocation Rules," Thomson, William, June 1996. Abstract.
#417	"Writing Papers," Thomson, William, June 1996.
#416	"Robust Semiparametric Estimation in the Presence of Heterogeneity of Unknown Form," Hodgson, Douglas J., April 1996.
#415	"Macroeconomic Effects of Employment Reallocation," Campbell, Jeffrey R., and Kenneth N. Kuttner, March 1996.
#414	"Matching Human Capital and Displacement," Chari, V. V., and Hugo A. Hopenhayn, February 1996. -- back to top--

Ordering Information

Three (3) papers per year will be provided free of charge. Each additional paper will require a $5.00 service fee which must be enclosed with your order. All checks must be in US funds and drawn on a US bank.

If you wish to order more than three papers , you must mail a paper form with payment. If you are ordering no more than your first three papers for this year, you may use either the paper form, or our electronic form

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