WORKING PAPERS

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

[ 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 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 2024 (back to top)
#616	"The Household Equipment Revolution" Effrosyni Adamopoulou, Jeremy Greenwood, Nezih Guner, PDF Version.
#615	"‘You Will:’ A Macroeconomic Analysis of Digital Advertising" Jeremy Greenwood, Yueyuan Ma, and Mehmet Yorukoglu, PDF Version.
Working Papers for 2023 (back to top)
#614	"Does the US Individual Income Tax Display Systemic Racism?" Robert P. Strauss and Miguel Gouveia, PDF Version.
Working Papers for 2022 (back to top)
#613	"The Downward Spiral" Jeremy Greenwood, Nezih Guner, Karen A. Kopecky, PDF Version.
#612	"Synergizing Ventures" Ufuk Akcigit, Emin Dinlersoz, Jeremy Greenwood, Veronika Penciakova, PDF Version.
#611	"Substance Abuse during the Pandemic: Implications for Labor-Force Participation" Jeremy Greenwood, Nezih Guner, Karen Kopecky, PDF Version.
Working Papers for 2021 (back to top)
#610	"Student Misconduct and Learning Outcomes, Evidence from Pennsylvania’s K-12 Building Records: 1999-2018," Robert P. Strauss, PDF Version.
#609	"Financing Ventures," Jeremy Greenwood, Pengfei Han, and Juan M.Sanchez, PDF Version.
#608	"The Great Transition: Kuznets Facts for Family-Economists," Jeremy Greenwood, Nezih Guner, and Ricardo Marto, PDF Version.
#607	"Wealth, Financial Literacy and Behavioral Biases in Japan: the Effect of various Types of Financial Literacy," Shizuka Sekita, Vikas Kakkar, and Masao Ogaki, PDF Version.
Working Papers for 2020 (back to top)
#606	"The Wife's Protector: A Quantitative Theory Linking Contraceptive Technology with the Decline in Marriage," Jeremy Greenwood, Nezih Guner, and Karen A. Kopecky, PDF Version.
Working Papers for 2019 (back to top)
#605	"On the Axiomatics of Resource Allocation: Classifying Axioms and Mapping Out Promising Directions," William Thomson, PDF Version.
Working Papers for 2018 (back to top)
#604	"Equal area rule to adjudicate conflicting claims," William Thomson, PDF Version.
#603	"Labor-Market Wedge under Engel Curve Utility: Cyclical Substitution between Necessities and Luxuries," Yongsung Chang, Andreas Hornstein, and Marios Karabarbounis, PDF Version.
Working Papers for 2017 (back to top)
#602	"Mining Surplus: Modeling James A. Schmitz's Link Between Competition and Productivity," Jeremy Greenwood and David Weiss, PDF Version.
#601	"An Equilibrium Model of the African HIV/AIDS Epidemic," Jeremy Greenwood, Philipp Kircher, Cezar Santos, and Michèle Tertilt, PDF Version.
#600	"Introducing Virtue Ethics into Normative Economics for Models with Endogenous Preferences," Vipul Bhatt, Masao Ogaki, and Yuichi Yaguchi, PDF Version.
#599	"Optimal Taxation with Private Insurance," Yongsung Chang and Yena Park, PDF Version.
#598	"Family Economics Writ Large," Jeremy Greenwood, Nezih Guner, and Guillaume Vandenbroucke, PDF Version.
#597	"The Role of Marriage in Fighting HIV: A Quantitative Illustration for Malawi," Jeremy Greenwood, Philipp Kircher, Cezar Santos, and Michèle Tertilt, PDF Version.
Working Papers for 2016 (back to top)
#596	"The Rise and Fall of Unions in the United States," Emin Dinlersoz, and Jeremy Greenwood, PDF Version.
#595	"What Businesses Attract Unions? Unionization over the Life-Cycle of U.S. Establishments," Emin Dinlersoz, Jeremy Greenwood, and Henry Hyatt, PDF Version.
#594	"Why Doesn't Technology Flow from Rich to Poor Countries?," Harold L. Cole, Jeremy Greenwood, and Juan M. Sanchez, PDF Version.
Working Papers for 2015 (back to top)
#593	"Buy, Keep, or Sell: Economic Growth and the Market for Ideas," Akcigit, Ufuk, Murat Alp Celik, and Jeremy Greenwood, PDF Version.
#592	"For claims problems, another compromise between the proportional and constrained equal awards rules," Thomson, William, PDF Version.
#591	"Marry Your Like: Assortative Mating and Income Inequality," Greenwood, Jeremy, Nezih Guner, Georgi Kocharkov, and Cezar Santos, PDF Version.
#590	"Pareto Weights in Practice: Income Inequality and Tax Reform," Chang, Bo Hyun, Yongsung Chang, and Sun-Bin Kim, PDF Version.
#589	"Technology and the Changing Family: A Unified Model of Marriage, Divorce, Educational Attainment and Married Female Labor-Force Participation," Greenwood, Jeremy, Nezih Guner, Georgi Kocharkov, and Cezar Santos, PDF Version.
Working Papers for 2014 (back to top)
#588	"Effects of the Great East Japan Earthquake on Subjective Well-Being," Ishino, Takuya, Akiko Kamesaka, Toshiya Murai, and Masao Ogaki, PDF Version.
#587	"Merging and splitting endowments in object assignment problems," Bu, Nanyang, Siwei Chen, and William Thomson, PDF Version.
#586	"Non-bossiness," Thomson, William, PDF Version.
#585	"Constrained Efficiency in a Risky Human Capital Model," Park, Yena, PDF Version.
#584	"Compromising between the proportional and constrained equal awards rules," Thomson, William, PDF Version.
#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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