Cowles Foundation Discussion Papers

From Cowles Foundation for Research in Economics, Yale University
Yale University, Box 208281, New Haven, CT 06520-8281 USA.
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1660: Testing for Non-Nested Conditional Moment Restrictions Using Unconditional Empirical Likelihood

Taisuke Otsu, Myung Hwan Seo and Yoon-Jae Whang

1659: Smoothing Local-to-Moderate Unit Root Theory

Peter Phillips, Tassos Magdalinos and Liudas Giraitis

1658: Semiparametric Cointegrating Rank Selection

Xu Cheng and Peter Phillips

1657: Structural Nonparametric Cointegrating Regression

Qiying Wang and Peter Phillips

1656: Long Memory and Long Run Variation

Peter Phillips

1655: Unit Root and Cointegrating Limit Theory When Initialization Is in the Infinite Past

Peter Phillips and Tassos Magdalinos

1654: Local Limit Theory and Spurious Nonparametric Regression

Peter Phillips

1653: Unit Root Model Selection

Peter Phillips

1652: Nonlinearity and Temporal Dependence

Xiaohong Chen, Lars Hansen and Marine Carrasco

1652: Nonlinearity and Temporal Dependence

Xiaohong Chen, Lars Hansen and Marine Carrasco

1651: The Impact of a Hausman Pretest on the Size of Hypothesis Tests

Patrik Guggenberger

1650: Estimation of Nonparametric Conditional Moment Models With Possibly Nonsmooth Generalized Residuals

Xiaohong Chen and Demian Pouzo

1650: Estimation of Nonparametric Conditional Moment Models With Possibly Nonsmooth Generalized Residuals

Xiaohong Chen and Demian Pouzo

1650: Estimation of Nonparametric Conditional Moment Models with Possibly Nonsmooth Moments

Xiaohong Chen and Demian Pouzo

1649: Limit Theorems for Functionals of Sums that Converge to Fractional Brownian and Stable Motions

P. Jeganathan

1648: Derivatives Markets for Home Prices

Robert Shiller

1647: The Virtues and Vices of Equilibrium and the Future of Financial Economics

J. Farmer and John Geanakoplos

1646: Emerging Markets in an Anxious Global Economy

Ana Fostel and John Geanakoplos

1645: Understanding Sectoral Labor Market Dynamics: An Equilibrium Analysis of the Oil and Gas Field Services Industry

Patrick Kline

1644: Semiparametric Efficiency in GMM Models of Nonclassical Measurement Errors, Missing Data and Treatment Effects

Xiaohong Chen, Han Hong and Alessandro Tarozzi

1643: A ‘Dual’-Improved Shortcut to the Long Run

Kareen Rozen

1642: Foundations of Intrinsic Habit Formation

Kareen Rozen

1642: Foundations of Intrinsic Habit Formation

Kareen Rozen

1641: Conflict Leads to Cooperation in Nash Bargaining

Kareen Rozen

1640: Efficient Estimation of Semiparametric Conditional Moment Models with Possibly Nonsmooth Residuals

Xiaohong Chen and Demian Pouzo

1639: Communication and Learning

Luca Anderlini, Dino Gerardi and Roger Lagunoff

1639: Do Local Economic Development Programs Work? Evidence from the Federal Empowerment Zone Program

Matias Busso and Patrick Kline

1637: A Positive Theory of Income Taxation Where Politicians Focus upon Swing and Core Voters

John Roemer

1636: Optimal Resource Extraction Contracts under Threat of Expropriation

Eduardo Engel and Ronald Fischer

1635: Estimating Exchange Rate Equations Using Estimated Expectations

Ray Fair

1634: Estimating Term Structure Equations Using Macroeconomic Variables

Ray Fair

1633: Affective Decision Making: A Behavioral Theory of Choice

Anat Bracha and Donald J. Brown

1633: Affective Decision Making: A Behavioral Theory of Choice

Anat Bracha and Donald J. Brown

1632: Low Interest Rates and High Asset Prices: An Interpretation in Terms of Changing Popular Models

Robert Shiller

1631: Inference for Parameters Defined by Moment Inequalities Using Generalized Moment Selection

Donald Andrews and Gustavo Soures

1630: Understanding Recent Trends in House Prices and Home Ownership

Robert Shiller

1629: Belief Free Incomplete Information Games

Dirk Bergemann and Stephen Morris

1628: The Role of the Common Prior in Robust Implementation

Dirk Bergemann and Stephen Morris

1627: Collective Reputation, Professional Regulation and Franchising

Robert Evans and Timothy Guinnane

1626: On Rate Optimality for Ill-posed Inverse Problems in Econometrics

Xiaohong Chen and Markus Reiss

1625: Pricing without Priors

Dirk Bergemann and Karl Schlag

1624: Reputation Effects and Equilibrium Degeneracy in Continuous-Time Games

Eduardo Faingold and Yuliy Sannikov

1623: Three Minimal Market Institutions with Human and Algorithmic Agents: Theory and Experimental Evidence

Juergen Huber, Martin Shubik and Shyam Sunder

1623: Three Minimal Market Institutions with Human and Algorithmic Agents: Theory and Experimental Evidence

Juergen Huber, Martin Shubik and Shyam Sunder

1622: An Economy with Personal Currency: Theory and Experimental Evidence

Martin Angerer, Juergen Huber, Martin Shubik and Shyam Sunder

1621: Probabilistic Sophistication and Stochastic Monotonicity in the Savage Framework

Simon Grant, Hatice Ozsoy and Ben Polak

1620: Validity of Subsampling and "Plug-in Asymptotic" Inference for Parameters Defined by Moment Inequalities

Donald Andrews and Patrik Guggenberger

1619: Information Acquisition in Interdependent Value Auctions

Dirk Bergemann, Xianwen Shi and Juuso Välimäki

1618: The Basic Public Finance of Public-Private Partnerships

Eduardo Engel, Ronald Fischer and Alexander Galetovic

1617: United States Courts and the Optimal Deterrence of International Cartels: A Welfarist Perspective on Empagran

Alvin K. Klevorick and Alan O. Sykes

1616: Dynamic Marginal Contribution Mechanism

Dirk Bergemann and Juuso Välimäki

1615: Alfred Marshall's Cardinal Theory of Value: The Strong Law of Demand

Donald J. Brown and Caterina Calsamiglia

1615: Marshall's Theory of Value and the Strong Law of Demand

Donald J. Brown and Caterina Calsamiglia

1614: Limit Theory for Explosively Cointegrated Systems

Peter Phillips and Tassos Magdalinos

1613: Exact Distribution Theory in Structural Estimation with an Identity

Peter Phillips

1612: Tilted Nonparametric Estimation of Volatility Functions

Peter Phillips and Ke-Li Xu

1611: Long Run Covariance Matrices for Fractionally Integrated Processes

Peter Phillips and Chang Sik Kim

1610: Historic Turning Points in Real Estate

Robert Shiller

1609: Robust Virtual Implementation

Dirk Bergemann and Stephen Morris

1609: Strategic Distinguishability and Robust Virtual Implementation

Dirk Bergemann and Stephen Morris

1609: Strategic Distinguishability with an Application to Robust Virtual Implementation

Dirk Bergemann and Stephen Morris

1608: Applications of Subsampling, Hybrid, and Size-Correction Methods

Donald Andrews and Patrik Guggenberger

1607: Asymptotics for Stationary Very Nearly Unit Root Processes

Donald Andrews and Patrik Guggenberger

1606: Hybrid and Size-Corrected Subsample Methods

Donald Andrews and Patrik Guggenberger

1605: The Limit of Finite-Sample Size and a Problem with Subsampling

Donald Andrews and Patrik Guggenberger

1605: The Limit of Finite-Sample Size and a Problem with Subsampling

Donald Andrews and Patrik Guggenberger

1604: Price Dynamics on a Stock Market with Asymmetric Information

Bernard De Meyer

1603: Price Stickiness in Ss Models: New Interpretations of Old Results

Ricardo Caballero and Eduardo Engel

1602: Presidential and Congressional Vote-share Equations

Ray Fair

1601: Social Memory and Evidence from the Past

Luca Anderlini, Dino Gerardi and Roger Lagunoff

1600: An Ascending Auction for Independent Values: Uniqueness and Robustness to Strategic Uncertainty

Dirk Bergemann and Stephen Morris

1599: GMM Estimation for Dynamic Panels with Fixed Effects and Strong Instruments at Unity

Chirok Han and Peter Phillips

1598: Information Loss in Volatility Measurement with Flat Price Trading

Peter Phillips and Jun Yu

1597: Maximum Likelihood and Gaussian Estimation of Continuous Time Models in Finance

Peter Phillips and Jun Yu

1596: Simulation-based Estimation of Contingent-claims Prices

Peter Phillips and Jun Yu

1595: Transition Modeling and Econometric Convergence Tests

Peter Phillips and Donggyu Sul

1594: Asymptotic Theory for Local Time Density Estimation and Nonparametric Cointegrating Regression

Qiying Wang and Peter Phillips

1593: A Note on Fairness, Power, Property, and Behind the Veil

Martin Shubik

1592: Games of Connectivity

Pradeep Dubey and Rahul Garg

1591: Competing for Customers in a Social Network

Pradeep Dubey, Rahul Garg and Bernard De Meyer

1590: Identification and Inference of Nonlinear Models Using Two Samples with Arbitrary Measurement Errors

Xiaohong Chen and Yingyao Hu

1589: Outsourcing Induced by Strategic Competition

Yutian Chen, Pradeep Dubey and Debapriya Sen

1588: One-Way Essential Complements

Keith Chen and Barry Nalebuff

1587: Log Periodogram Regression: The Nonstationary Case

Chang Sik Kim and Peter Phillips

1586: A Complete Asymptotic Series for the Autocovariance Function of a Long Memory Process

Offer Lieberman and Peter Phillips

1585: Adaptive Estimation of Autoregressive Models with Time-Varying Variances

Ke-Li Xu and Peter Phillips

1585: Adaptive Estimation of Autoregressive Models with Time-Varying Variances

Ke-Li Xu and Peter Phillips

1584: Efficient Dynamic Auctions

Dirk Bergemann and Juuso Välimäki

1583: Economic Development as Opportunity Equalization

John Roemer

1582: Kantian Allocations

John Roemer

1581: Mixed Oligopoly Equilibria When Firms' Objectives Are Endogenous

Philippe De Donder and John Roemer

1580: Competitive Screening and Market Segmentation

Gerald D. Jaynes

1579: Interpreting the Predictive Uncertainty of Elections

Ray Fair

1578: Generalized Utilitarianism and Harsanyi’s Partial Observer Theorem

Simon Grant, Atsushi Kajii, Ben Polak and Zvi Safra

1577: A Comparison of Five Federal Reserve Chairmen: Was Greenspan the Best?

Ray Fair

1576: Pareto Improving Taxes

J. D. Geanakoplos and H. M. Polemarchakis

1575: Common Learning

Martin Cripps, Jeffrey Ely, George Mailath and Larry Samuelson

1575: Common Learning

Martin Cripps, Jeffrey Ely, George Mailath and Larry Samuelson

1574: Money and Production, and Liquidity Trap

Pradeep Dubey and John Geanakoplos

1573: Extreme Adverse Selection, Competitive Pricing, and Market Breakdown

George Mailath and Georg Nöldeke