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The Dynamic (In)efficiency of Monetary Policy by Committee
(Université de Montréal. Département de sciences économiques., 2006)
This paper develops a model where the value of the monetary policy instrument is selected by a heterogenous committee engaged in a dynamic voting game. Committee members differ in their institutional power and, in certain ...
Fair Allocation of Production Externalities: Recent Results
(Université de Montréal. Département de sciences économiques., 2005)
We survey recent axiomatic results in the theory of cost-sharing. In this litterature, a method computes the individual cost shares assigned to the users of a facility for any profile of demands and any monotonic cost ...
Social Choice: Recent Developments
(Université de Montréal. Département de sciences économiques., 2006)
In the past quarter century, there has been a dramatic shift of focus in social choice theory, with structured sets of alternatives and restricted domains of the sort encountered in economic problems coming to the fore. ...
Why Have Aggregate Skilled Hours Become So Cyclical Since the Mid-1980's?
(Université de Montréal. Département de sciences économiques., 2005)
This paper documents and discusses a dramatic change in the cyclical behavior of aggregate hours worked by individuals with a college degree (skilled workers) since the mid-1980’s. Using the CPS outgoing rotation data set ...
Les protestants sont plus idolophobes qu’iconoclastes!
(2009)
Cet article synthétise la théologie protestante des images en montrant qu’elle
vise à prévenir l’idolâtrie. Il rappelle que l’iconoclasme de la Réforme a été
sélectif. Il souligne l’existence de peintres protestants, de ...
Asymptotic Distribution of a Simple Linear Estimator for VARMA Models in Echelon Form
(Université de Montréal. Département de sciences économiques., 2005)
In this paper, we study the asymptotic distribution of a simple two-stage (Hannan-Rissanen-type) linear estimator for stationary invertible vector autoregressive moving average (VARMA) models in the echelon form representation. ...
Dynamic Measures of Individual Deprivation
(Université de Montréal. Département de sciences économiques., 2005)
We introduce and axiomatize a one-parameter class of individual deprivation measures. Motivated by a suggestion of Runciman, we modify Yitzhaki’s index by multiplying it by a function that is interpreted as measuring the ...
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 ...
Exact Multivariate Tests of Asset Pricing Models with Stable Asymmetric Distributions
(Université de Montréal. Département de sciences économiques., 2005)
In this paper, we propose exact inference procedures for asset pricing models that can be formulated in the framework of a multivariate linear regression (CAPM), allowing for stable error distributions. The normality ...
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 ...