Title:Preferred Point Geometry and the Local Differential Geometry of the Kullback-Leibler Divergence
Author(s):CRITCHLEY, Frank; MARRIOTT, Paul; SALMON, MarkDate:1994Type of Publication:ArticleAbstract:A new preferred point geometric structure for statistical analysis, closely related to Amari's alpha-geometries, is introduced. The added preferred point structure is seen to resolve the problem that divergence measures ...
Title:Price Smoothing Policies - A Welfare Analysis
Author(s):CANOVA, FabioDate:1992Type of Publication:ArticleAbstract:In post-WWII experience U.S. monetary authorities have attempted to eliminate seasonal fluctuations in prices and nominal interest rates. Developments in financial markets and recently discovered empirical regularities ...
Title:Price Variation Antagonism and Firm Pricing Policies
Author(s):COURTY, Pascal; PAGLIERO, MarioDate:2010Type of Publication:ArticleAbstract:Pricing schemes that vary prices in response to demand shocks may antagonize consumers and reduce demand. At the same time, consumers may take advantage of the opportunities offered by price changes. Overall, the net impact ...
Title:The Pro-Competitive Effect of Campaign Limits in Non-Majoritarian Elections
Author(s):IARYCZOWER, Matias; MATTOZZI, AndreaDate:2012Type of Publication:ArticleAbstract:We study a model of elections in non-majoritarian systems that captures the link between competition in policies and competition in campaign spending. We argue that the overall competitiveness of the political arena depends ...
Title:Productivity, Seniority and Wages: New Evidence from Personnel Data
Author(s):ICHINO, Andrea; FLABBI, LucaDate:2001Type of Publication:ArticleAbstract:Wages may be observed to increase with seniority because of firm-specific human capital accumulation or because of self-selection of better workers in longer jobs. In both these cases, the upward sloping wage profile in ...
Title:Profits, Risk, and Uncertainty in Foreign-Exchange Markets
Author(s):CANOVA, Fabio; MARRINAN, JaneDate:1993Type of Publication:ArticleAbstract:This paper examines the properties of nominal profits from speculation in dollar-dominated forward contracts using a representative agent cash-in-advance model, modified to allow for heteroscedasticity in the exogenous ...
Title:Putting Things in Order: Trade Dynamics and Product Cycles
Author(s):FEENSTRA, Robert; ROSE, Andrew K.Date:2000Type of Publication:ArticleAbstract:We develop a procedure to rank-order objects using censored panel data sets. We illustrate this by ranking countries and commodities using disaggregated American import data and find evidence that countries and commodities ...
Title:Realized GARCH: A joint model for returns and realized measures of volatility
Author(s):HANSEN, Peter Reinhard; HUANG, Zhuo; SHEK, Howard HowanDate:2012Type of Publication:ArticleAbstract:We introduce a new framework, Realized GARCH, for the joint modeling of returns and realized measures of volatility. A key feature is a measurement equation that relates the realized measure to the conditional variance of ...
Title:Recent Developments in International Finance: A Guide to Research
Author(s):STEIN, Jerome L.; PALADINO, GiovannaDate:1997Type of Publication:ArticleAbstract:This is a critical evaluation of the state of the art in International Finance. Several points of reference are selected: The Mundell-Fleming-Branson (MFP) paradigm, the monetary model with purchasing power parity (PPP) ...
Title:Recent Results on Belief, Knowledge and the Epistemic Foundations of Game Theory.
Author(s):BATTIGALLI, Pierpaolo; BONANNO, GiacomoDate:1999Type of Publication:ArticleAbstract:We provide a self-contained, selective overview of the literature on the role of knowledge and beliefs in game theory. We focus on recent results on the epistemic foundations of solution concepts, including correlated ...