Title:Imperfect Competition in Agricultural Markets: evidence from Ethiopia
Author(s):OSBORNE, TheresaDate:2005Type of Publication:ArticleAbstract:Drawing upon unique transaction-level data from rural Ethiopia, this paper tests for general forms of imperfect competition among rural wholesale traders. These traders are key to the grain distribution system as they ...
Title:The Importance of Industrial Policy in Quality-Ladder Growth Models
Author(s):GIORDANI, Paolo; ZAMPARELLI, LucaDate:2008Type of Publication:ArticleAbstract:We extend the class of quality-ladder growth models (Grossman and Helpman, 1991, Segerstrom, 1998 and others), to encompass an economy with asymmetric fundamentals. In contrast to the standard framework, in our model ...
Title:Income-Distribution and Infant-Mortality
Author(s):WALDMANN, RobertDate:1992Type of Publication:ArticleAbstract:Comparing two countries in which the poor have equal real incomes, the one in which the rich are wealthier is likely to have a higher infant mortality rate. This anomalous result does not appear to spring from measurement ...
Title:Incomplete Information about Social Preferences Explains Equal Division and Delay in Bargaining
Author(s):KOHLER, StefanDate:2012Type of Publication:ArticleAbstract:Two deviations of alternating-offer bargaining behavior from economic theory are observed together, yet have been studied separately. Players who could secure themselves a large surplus share if bargainers were purely ...
Title:Indeterminacy with Non-Separable Utility
Author(s):BENNETT, Rosalind L.; FARMER, Roger E. A.Date:2000Type of Publication:ArticleAbstract:J. Benhabib and R. E. A. Farmer (1904, J. Econ Theory 63, 19-41) showed that a single sector growth model in the presence of increasing returns-to-scale may display an indeterminate equilibrium if the demand and supply ...
Title:Individual Risk and Mutual Insurance
Author(s):CASS, David; CHICHILNISKY, G.; WU, H-M.Date:1996Type of Publication:ArticleAbstract:This paper examines how, in the presence of individual risk, economic efficiency can be achieved without an unrealistically large number of contingent claims. Market uncertainty is specified in such a way that general types ...
Title:Industry Structure and the Dynamics of Price Adjustment
Author(s):BANERJEE, Anindya; RUSSELL, BillDate:2001Type of Publication:ArticleAbstract:Using annual US data for gross domestic product originating by sector between 1947 and 1997 it is shown that a negative long-run relationship between inflation and the markup is present across the sectors as well as in the ...
Title:Inflation, relative price variability and the markup: evidence from the United States and the United Kingdom
Author(s):BANERJEE, Anindya; MIZEN, Paul; RUSSELL, BillDate:2007Type of Publication:ArticleAbstract:This paper links two separate empirical literatures on inflation, relative price variability (RPV) and the price–cost markup. Measures constructed from annual and quarterly data for the US and UK are used to examine the ...
Title:Interactive Beliefs, Epistemic Independence and Strong Rationalizability
Author(s):BATTIGALLI, Pierpaolo; SINISCALCHI, MarcianoDate:1999Type of Publication:ArticleAbstract:We use a universal, extensive form interactive beliefs system to provide an epistemic characterization of a weak and a strong notion of rationalizability with independent beliefs. The weak solution concept is equivalent ...
Title:Interest Rate Targeting and the Dynamics of Short-Term Rates
Author(s):BALDUZZI, P; BERTOLA, Giuseppe; FORESI, S; KLAPPER, LDate:1998Type of Publication:ArticleAbstract:A feature of U.S. monetary policy has been active targeting of overnight fed funds rates. We show that during a period of tight targeting (1989-1996) term fed funds spreads from the target displayed pronounced volatility ...