Title:New Technology in Schools: Is there a Payoff?
Author(s):MACHIN, Stephen; MCNALLY, Sandra; SILVA, OlmoDate:2007Type of Publication:ArticleAbstract:Despite its high relevance to current policy debates, estimating the causal effect of Information and Communication Technology (ICT) investment on educational standards remains fraught with difficulties. We exploit a change ...
Title:Noise Trader Risk in Financial-Markets
Author(s):DELONG, J. Bradford; SHLEIFER, Andrei; SUMMERS, Lawrence H.; WALDMANN, RobertDate:1990Type of Publication:Article
Title:Noise Trading and Exchange Rate Regimes
Author(s):JEANNE, Olivier; ROSE, Andrew K.Date:2002Type of Publication:ArticleAbstract:Policy-makers often justify their choice of fixed exchange rate regimes as a shelter against nonfundamental influences in the foreign exchange market. This paper proposes a framework, based on endogenous noise trading, ...
Title:A Note on Testing Restrictions for the Cointegration Parameters of a VAR with I(2)
Variables
Author(s):JOHANSEN, Soren; LUETKEPOHL, HelmutDate:2005Type of Publication:ArticleAbstract:We give a brief introduction to the vector autoregressive model for cointegrated I(2) variables and show how some plausible economic relations can be formulated in the I(2) framework in such a way that likelihood ratio ...
Title:Oligopoly Limit Pricing - Strategic Substitutes, Strategic Complements
Author(s):MARTIN, StephenDate:1995Type of Publication:ArticleAbstract:Conditions are outlined under which it is a sequential equilibrium for firms to forgo current profit to reduce the likelihood of entry, if firms are uncertain about rivals' costs. The assumptions about out-of-equilibrium ...
Title:On B-robust Instrumental Variable Estimation of the Linear Model with Panel Data
Author(s):WALDMANN, Robert; WAGENVOORT, Rien J.L.M.Date:2002Type of Publication:ArticleAbstract:The aim of this paper is to demonstrate how to acquire robust consistent estimates of the linear model when the fundamental orthogonality condition is not fulfilled. With this end in view, we develop two estimation procedures: ...
Title:On the Computation and Efficiency of A Hbp-Gm Estimator Some Simulation Results
Author(s):HINLOOPEN, Jeroen; WAGENVOORT, Rien J.L.M.Date:1997Type of Publication:ArticleAbstract:We propose and test a specific correction factor which improves both the resampling and projection algorithm for approximating the minimum volume ellipsoid (MVE) estimator. Simulations show that a high-breakdown-point GM ...
Title:On the Evolutionary Selection of Sets of Nash Equilibria
Author(s):SCHLAG, Karl H.; BALKENBORG, DieterDate:2006Type of Publication:ArticleAbstract:It is well established for evolutionary dynamics in asymmetric games that a pure strategy combination is asymptotically stable if and only if it is a strict Nash equilibrium. We use an extension of the notion of a strict ...
Title:On the Evolutionary Selection of Sets of Nash Equilibria
Author(s):BALKENBORG, Dieter; SCHLAG, Karl H.Date:2007Type of Publication:ArticleAbstract:It is well established for evolutionary dynamics in asymmetric games that a pure strategy combination is asymptotically stable if and only if it is a strict Nash equilibrium. We use an extension of the notion of a strict ...
Title:On the Existence of A Beliefs Social Equilibrium
Author(s):FERNANDEZ DE CORDOBA MARTOS, GonzaloDate:1997Type of Publication:ArticleAbstract:This paper presents a result on the existence of a beliefs social equilibrium. This is a preliminary step to find a definition of equilibrium in economics that explicitly takes account of beliefs. (C) 1997 Elsevier Science S.A.
Title:On the Predictability of Time-Varying VAR and DSGE Models
Author(s):BEKIROS, Stelios D.; PACCAGNINI, AlessiaDate:2012Type of Publication:ArticleAbstract:Over the last few years, there has been a growing interest in DSGE modelling for predicting macroeconomic fluctuations and conducting quantitative policy analysis. Hybrid DSGE models have become popular for dealing with ...