Now showing items 1-10 of 29
An Equilibrium Model of Sorting in an Urban Housing Market
(NBER Working Paper, 2005)
The absence of the corporation in Islamic law: Origins and persistence
(American Journal of Comparative Law, 2005-09-01)
Classical Islamic law recognizes only natural persons; it does not grant standing to corporations. This article explores why Islamic law did not develop a concept akin to the corporation, or borrow one from another legal ...
On the endogeneity of Cournot-Nash and Stackelberg equilibria: Games of accumulation
(Journal of Economic Theory, 2005-01-01)
We characterize equilibria of games with two properties: (i) Agents have the opportunity to adjust their strategic variable after their initial choices and before payoffs occur; but (ii) they can only add to their initial ...
Are immigrant remittance flows a source of capital for development?
(IMF Staff Papers, 2005-07-06)
There is a general presumption in the literature and among policymakers that immigrant remittances play the same role in economic development as foreign direct investment and other capital flows, but this is an open question. ...
Correcting the errors: Volatility forecast evaluation using high-frequency data and realized volatilities
We develop general model-free adjustment procedures for the calculation of unbiased volatility loss functions based on practically feasible realized volatility benchmarks. The procedures, which exploit recent nonparametric ...
A tale of two market failures: Technology and environmental policy
(Ecological Economics, 2005-08-01)
Market failures associated with environmental pollution interact with market failures associated with the innovation and diffusion of new technologies. These combined market failures provide a strong rationale for a portfolio ...
Misusing history: A minisymposium
(History of Political Economy, 2005-06-01)
Automatic inference of the contemporaneous causal order of a system of equations
(Econometric Theory, 2005-02-01)
Multicointegration and sustainability of fiscal practices
(Economic Inquiry, 2005-09-12)
Using multicointegration methodology, we develop criteria for testing sustainability of fiscal budgeting processes across all states of nature. Criteria are derived from the optimal control literature where levels and rates ...
Survival expectations of the obese: Is excess mortality reflected in perceptions?
(Obes Res, 2005-04)
OBJECTIVE: This study compared self-reported subjective life expectancy (i.e., probability of living to age 75) for normal-weight, overweight, and obese weight groups to examine whether individuals are internalizing information ...