Browsing Faculté des arts et des sciences – Département de sciences économiques by Title
Now showing items 1023-1042 of 1523
-
Monetary Policy by Committee:Consensus, Chairman Dominance or Simple Majority?
(Université de Montréal. Département de sciences économiques., 2008-02)This paper studies the theoretical and empirical implications of monetary policy making by committee under three different voting protocols. The protocols are a consensus model, where super-majority is required for a policy change; an agenda-setting ... -
Monetary policy in sudden stop-prone economies
(Université de Montréal. Département de sciences économiques., 2018-06)In a model featuring sudden stops and pecuniary externalities, I show that the ability to use capital controls has radical implications for the conduct of monetary policy. Absent capital controls, following an inflation targeting regime is nearly ... -
Monetary Policy When Wages Are Downwardly Rigid: Friedman Meets Tobin
(Université de Montréal. Département de sciences économiques., 2009-11)In a monetary economy with downwardly rigid wages, the central banker should target a low, but strictly positive, inflation rate. -
Monte Carlo Tests with Nuisance Parameters: A General Approach to Finite-Sample Inference and Nonstandard Asymptotics
(Université de Montréal. Département de sciences économiques., 2005)The technique of Monte Carlo (MC) tests [Dwass (1957), Barnard (1963)] provides an attractive method of building exact tests from statistics whose finite sample distribution is intractable but can be simulated (provided it does not involve nuisance ... -
Moral Hazard and Marshallian Inefficiency: Evidence from Tunisia
(Université de Montréal. Département de sciences économiques., 1996)In the presence of moral hazard, received agency theory predicts the Marshallian inefficiency of agricultural tenancy contracts, meaning that inputs per hectare on sharecropped land will differ from that on owned land. in this paper, we test for the ... -
Moral Hazard and State-Dependent Utility Function
(Université de Montréal. Département de sciences économiques., 1980) -
More On Prices Versus Quantities
(Université de Montréal. Département de sciences économiques., 1975-02) -
Multi-Profile Intergenerational Social Choice
(Université de Montréal. Département de sciences économiques., 2008-06)Ferejohn and Page transplanted a stationarity axiom from Koopmans’ theory of impatience into Arrow’s social choice theory with an infinite horizon and showed that the Arrow axioms and stationarity lead to a dictatorship by the first generation. We prove ... -
Multi-Profile Intertemporal Social Choice
(Université de Montréal. Département de sciences économiques., 2012-08)We provide a brief survey of some literature on intertemporal social choice theory in a multi-profile setting. As is well-known, Arrow’s impossibility result hinges on the assumption that the population is finite. For infinite populations, there exist ... -
Multidimensional Poverty and Material Deprivation
(Université de Montréal. Département de sciences économiques., 2009-08)We examine the measurement of multidimensional poverty and material deprivation following the counting approach. In contrast to earlier contributions, dimensions of well-being are not forced to be equally important but different weights can be assigned ... -
Multiple Public Goods and Lexicographic Preferences Replacement Principle
(Université de Montréal. Département de sciences économiques., 2001)We study the problem of locating two public goods for a group of agents with single-peaked preferences over an interval. An alternative specifies a location for each public good. In Miyagawa (1998), each agent consumes only his most preferred public ... -
Multivariate Cointegration in the Presence of Structural Breaks: the Case of Money Demand in Mexico
(Université de Montréal. Département de sciences économiques., 1995) -
The Myth of Demonetarization of Gold
(Université de Montréal. Département de sciences économiques., 2010-10)The aim of this paper is to discuss the crisis of the international financial system and the necessity of reforming it by new anchor or benchmark for the international currency, a money-commodity. The need for understanding the definition of a numéraire ... -
Natural-Resource Exploitation with Costly Enforcement of Property Rights
(Université de Montréal. Département de sciences économiques., 1997)This paper proposes a model of natural-resource exploitation when private ownership requires costly enforcement activities. For a given wage rate, it is shown how enforcement costs can increase with labor's average productivity on a resource site. As ... -
Nearly Serial Sharing Methods
(Université de Montréal. Département de sciences économiques., 2004)A group of agents participate in a cooperative enterprise producing a single good. Each participant contributes a particular type of input; output is nondecreasing in these contributions. How should it be shared? We analyze the implications of the axiom ...