Title:Hierarchies of Conditional Beliefs and Interactive Epistemology in Dynamic Games
Author(s):BATTIGALLI, Pierpaolo; SINISCALCHI, MarcianoDate:1999Type of Publication:ArticleAbstract:The epistemic analysis of solution concepts for dynamic games involves statements about the players' beliefs conditional upon different histories of play, their conditional beliefs about each other's conditional beliefs, ...
Title:High exchange-rate volatility and low pass-through
Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, SylvainDate:2008Type of Publication:ArticleAbstract:Two specifications of an open-economy model are shown to generate high exchange-rate volatility and low exchange-rate pass-through (ERPT). In the model, price discrimination causes ERPT to be incomplete in both the short ...
Title:Horizontal Equity
Author(s):GALBIATI, Roberto; VERTOVA, PietroDate:2008Type of Publication:ArticleAbstract:The principle of horizontal equity (HE) is considered as a basic principle to follow in order to design and evaluate a redistributive policy. However, the theoretical debate has not yet clarified what exactly horizontal ...
Title:Imitation and Selective Matching in Reputational Games
Author(s):VIGNOLO, ThierryDate:2010Type of Publication:ArticleAbstract:This paper investigates imitation and selective matching in reputational games with an outside option. We identify two classes of such games, ultimatum and trust games. By selective matching we mean that short-run players ...
Title:The Impact of Income Shocks on Health: Evidence from Cohort Data
Author(s):ADDA, Jérôme; BANKS, James; VON GAUDECKER, Hans-MartinDate:2009-01-01Type of Publication:ArticleAbstract:We study the effect of permanent income innovations on health for a prime-aged population. Using information on more than half a million individuals sampled over a 25-year period in three different cross-sectional surveys ...
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 ...