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Now showing items 21-30 of 32
The Effects of Periodic Quotas Limiting the Stock of Imports of Durables
(Université de Montréal. Département de sciences économiques., 2002)
Analyses of trade quotas typically assume that the quota restricts the flow of
some nondurable good. Many real-world quotas, however, restrict the stock of durable
imports. We consider the cases where (1) anyone is free ...
Nonparametric Instrumental Regression
(Université de Montréal. Département de sciences économiques., 2002)
The focus of the paper is the nonparametric estimation of an instrumental regression function P defined by conditional moment restrictions stemming from a structural econometric model : E[Y-P(Z)|W]=0 and involving endogenous ...
Some Implications of the Zero Lower Bound on Interest Rates for the Term Structure and Monetary Policy
(Université de Montréal. Département de sciences économiques., 2002)
In an economy where cash can be stored costlessly (in nominal terms), the
nominal interest rate is bounded below by zero. This paper derives the implications of
this nonnegativity constraint for the term structure and ...
In Defense of Welfarism
(Université de Montréal. Département de sciences économiques., 2002)
This paper characterizes welfarist social evaluation in a multi-profile setting where, in addition to multiple utility profiles, it is assumed that there are several profiles of non-welfare information. We prove new versions ...
Habit Formation and the Persistence of Monetary Shocks
(Université de Montréal. Département de sciences économiques., 2002)
This paper studies the persistent effects of monetary shocks on output.
Previous empirical literature documents this persistence, but standard general
equilibrium models with sticky prices fail to generate output responses ...
Does the Barro-Gordon Model Explain the Behavior of US Inflation? a Reexamination of the Empirical Evidence
(Université de Montréal. Département de sciences économiques., 2002)
This paper tests the predictions of the Barro-Gordon model using US data on
inflation and unemployment. To that end, it constructs a general game-theoretical model
with asymmetric preferences that nests the Barro-Gordon ...
Arrow's Theorem in Spatial Environments
(Université de Montréal. Département de sciences économiques., 2002)
In spatial environments, we consider social welfare functions satisfying Arrow's requirements. i.e., weak Pareto and independence of irrelevant alternatives. When the policy space os a one-dimensional continuum, such a ...
Fair Production and Allocation of an Excludable Nonrival Good
(Université de Montréal. Département de sciences économiques., 2002)
We study fairness in economies with one private good and one partially
excludable nonrival good. A social ordering function determines for each profile of
preferences an ordering of all conceivable allocations. We propose ...
Efficient and Non-Deteriorating Choice
(Université de Montréal. Département de sciences économiques., 2002)
We analyze collective choice procedures with respect to their rationalizability by means of profiles of individual preference orderings. A selection function is a generalization of a choice function where selected alternatives ...
Finance and Growth : Empirical Evidence from Developing Countries, 1960-1990
(Université de Montréal. Département de sciences économiques., 2002)
This paper examines the empirical relationship between financial intermediation and economic growth using cross-country and panel data regressions for 69 developing countries for the 1960-1990 period. The main results are ...