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Now showing items 1-20 of 159
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(University of Oregon, Dept of Economics, 2000-07-01)Some firms voluntarily abstain from using child labor, presumably in response to concerns about the welfare of overseas child workers. These firms do not, however, support banning the imports of competitors’ products ...
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(University of Oregon, Dept. of Economics, 2001-11-29)A striking implication of the replacement of adaptive expectations by Rational Expectations was the "Lucas Critique," which showed that expectation parameters, and endogenous variable dynamics, depend on policy parameters. ...
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(University of Oregon, Dept. of Economics, 2002-11-08)We review the recent work on interest rate setting, which emphasizes the desirability of designing policy to ensure stability under private agent learning. Appropriately designed expectations based rules can yield optimal ...
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(University of Oregon, Dept of Economics, 2006-07-31)This paper develops a simple two-country, two-good model of international trade and borrowing that suppresses all previous sources of current account dynamics. Under rational expectations, international debt follows a ...
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(University of Oregon, Dept of Economics, 2006-06-22)This paper develops an adaptive learning formulation of an extension to the Ball, Mankiw and Reis (2005) sticky information model that incorporates endogenous inattention. We show that, following an exogenous increase in ...
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(University of Oregon, Dept of Economics, 2007-02-18)We consider the impact of anticipated policy changes when agents form expectations using adaptive learning rather than rational expectations. To model this we assume that agents combine limited structural knowledge with ...
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(University of Oregon, Dept. of Economics, 2003-12)Certain sociodemographic groups often seem to be relatively more concentrated near environmental hazards than in the surrounding community. It is well-known that snapshot cross-sectional statistical analyses cannot reveal ...
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(University of Oregon, Dept of Economics, 2003-03-17)Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized ...
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(University of Oregon, Dept of Economics, 2006-11-13)This paper advocates a theory of expectation formation that incorporates many of the central motivations of behavioral finance theory while retaining much of the discipline of the rational expectations approach. We provide ...
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(University of Oregon, Dept. of Economics, 2003-02-01)We study bank-based and market-based financial systems in an endogenous growth model. Lending to firms is fraught with moral hazard as owner-managers may reduce investment profitability to enjoy private benefits. Bank ...
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(University of Oregon, Dept. of Economics, 2002-07-20)We study the development of bargaining behavior in children age seven through 18, using ultimatum and dictator games. We find that bargaining behavior changes substantially with age and that most of this change appears to ...
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(University of Oregon, Dept of Economics, 2005-10-27)The analysis contrasts results of two recently expounded micro-level data approaches to derive robust intertemporal characterizations of redistributional effects of income tax schedules; the fixed-income procedure of Kasten, ...
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(University of Oregon, Dept of Economics, 2010-09)Why are some countries mired in poverty and ill health? Can policy facilitate their transition to sustained growth and better living standards? We offer answers using a dynamic model of disease and development. Endogenous ...
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(University of Oregon, Dept of Economics, 2006-08-28)Under rational expectations and risk neutrality the linear projection of exchange rate change on the forward premium has a unit coefficient. However, empirical estimates of this coefficient are significantly less than ...
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(University of Oregon, Dept of Economics, 2005-06-02)The literature on capital controls has (at least) four very serious apples-to-oranges problems: (i) There is no unified theoretical framework to analyze the macroeconomic consequences of controls; (ii) there is significant ...
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(University of Oregon, Dept of Economics, 2005-11)The literature on capital controls has (at least) four very serious apples-to-oranges problems: (i) There is no unified theoretical framework to analyze the macroeconomic consequences of controls; (ii) there is significant ...
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(University of Oregon, Dept. of Economics, 2002-08-20)We examine rewards and punishments in a simple proposer-responder game. The proposer first makes an offer to split a fixed-sized pie. According to the 2×2 design, the responder is or is not given a costly option of increasing ...
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(University of Oregon, Dept. of Economics, 2003-03)Anecdotal evidence suggests that new CEOs with foreign backgrounds direct their firms to become more international in their operations. We examine this hypothesis formally using data on U.S. S&P-500 manufacturing firms ...
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(University of Oregon, Dept of Economics, 2006-02)This paper proposes and tests a simple joint explanation for i) increases in marital and nonmarital birth rates in the United States over recent decades, ii) the dramatic rise in the share of nonmarital births, and iii) ...
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(University of Oregon, Dept of Economics, 2007-05)The authors employ a newly developed method to disentangle age, period and cohort effects on nonmarital fertility ratios (NFR) from 1972 to 2002 for U.S. women aged 20-44 – with a focus on three specific cohort factors: ...
Now showing items 1-20 of 159