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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1432: On the Empirical Content of Quantal Response Equilibrium

Philip Haile, Ali Hortacsu and Grigory Kosenok

1432: On the Empirical Content of Quantal Response Equilibrium

Philip Haile, Ali Hortacsu and Grigory Kosenok

1431: Uniqueness of Equilibrium in the Multi-Country Ricardo Model

Herbert Scarf and Charles A. Wilson

1430: Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

Ricardo Caballero and Eduardo Engel

1429: The Ideal Inflation Indexed Bond and Irving Fisher's Impatience Theory of Interest in an Overlapping Generations World

John Geanakoplos

1428: Cross-section Regression with Common Shocks

Donald Andrews

1427: Real Determinacy with Nominal Assets

Pradeep Dubey and John Geanakoplos

1427: Real Determinacy with Nominal Assets

Pradeep Dubey and John Geanakoplos

1426: The Computation of Counterfactual Equilibria in Homothetic Walrasian Economies

Donald Brown and Ravi Kannan

1426: Indeterminacy, Nonparametric Calibration and Counterfactual Equilibria

Donald Brown and Ravi Kannan

1425: Fundamental R&D Spillovers and the Internationalization of a FirmÌs Research Activities

Bernard Franck and Robert Owen

1424: The Harmonic Fisher Equation and the Inflationary Bias of Real Uncertainty

Ioannis Karatzas, Martin Shubik, William D. Sudderth and John Geanakoplos

1423: Multidimensional Private Value Auctions

Hanming Fang and Stephen Morris

1422: Morale Hazard

Hanming Fang and Giuseppe Moscarini

1421: Robust Mechanism Design

Dirk Bergemann and Stephen Morris

1421: Robust Mechanism Design

Dirk Bergemann and Stephen Morris

1420: Strategic Freedom, Constraint, and Symmetry in One-period Markets with Cash and Credit Payment

Martin Shubik and Eric Smith

1419: Structure, Clearinghouses and Symmetry

Martin Shubik and Eric Smith

1418: Alternative Approximations of the Bias and MSE of the IV Estimator under Weak Identification with an Application to Bias Correction

John Chao and Norman Swanson

1417: Consistent Estimation with a Large Number of Weak Instruments

John Chao and Norman Swanson

1416: On Houseswapping, the Strict Core, Segmentation, and Linear Programming

Thomas Quint and Jun Wake

1415: Two New Proofs of Afriat's Theorem

Ana Fostel, Herbert Scarf and Michael Todd

1414: On Local and Network Games

Thomas Quint and Martin Shubik

1413: Market Bubbles and Wasteful Avoidance: Tax and Regulatory Constraints on Short Sales

Michael Powers, David M. Schizer and Martin Shubik

1412: Dynamic Price Competition

Dirk Bergemann and Juuso Välimäki

1411: Information Acquisition in Committees

Dino Gerardi and Leeat Yariv

1411: Committee Design in the Presence of Communication

Dino Gerardi and Leeat Yariv

1410: Indeterminacy of Citizen-Candidate Equilibrium

John Roemer

1409: Political Equilibrium With Private or/and Public Campaign Finance: A Comparison Of Institutions

John Roemer

1408: Eclectic Distributional Ethics

John Roemer

1407: Consistent HAC Estimation and Robust Regression Testing Using Sharp Origin Kernels with No Truncation

Peter Phillips, Yixiao Sun and Sainan Jin

1406: Beauty Contests, Bubbles and Iterated Expectations in Asset Markets

Franklin Allen, Stephen Morris and Hyun Song Shin

1405: Communication and Monetary Policy

Jeffrey D. Amado, Stephen Morris and Hyun Song Shin

1404: End-of-Sample Cointegration Breakdown Tests

Donald Andrews and Jae-Young Kim

1403: Bonds or Loans? The Effect of Macroeconomic Fundamentals

Galina Hale

1402: Heterogeneity and Uniqueness in Interaction Games

Stephen Morris and Hyun Song Shin

1401: Coordination, Communication and Common Knowledge: A Retrospective on Electronic Mail Game

Stephen Morris

1400: Catalytic Finance: When Does It Work?

Stephen Morris and Hyun Song Shin

1399: Rationalizing and Curve-Fitting Demand Data with Quasilinear Utilities

Donald Brown and Caterina Calsamiglia

1399: The Strong Law of Demand

Donald Brown and Caterina Calsamiglia

1398: The Elusive Empirical Shadow of Growth Convergence

Peter Phillips and Donggyu Sul

1397: Laws and Limits of Econometrics

Peter Phillips

1396: Who Refers to Whom: A Study of Research References and the Relationship between Research Reports and Final Publication

Samuel McCarthy, Martin Shubik and Jianfeng Yu

1395: Tests of Independence in Separable Econometric Models: Theory and Application

Donald J. Brown, Rahul Deb and Marten H. Wegkamp

1395: Tests of Independence in Separable Econometric Models: Theory and Application

Donald Brown, Rahul Deb and Marten H. Wegkamp

1395: Tests of Independence in Separable Econometric Models

Donald Brown and Marten H. Wegkamp

1394: Generalized Potentials and Robust Sets of Equilibria

Stephen Morris and Takashi Ui

1393: Vision and Influence in Econometrics: John Denis Sargan

Peter Phillips

1392: Jackknifing Bond Option Prices

Peter Phillips and Jun Yu

1391: Fractional Brownian Motion as a Differentiable Generalized Gaussian Process

Victoria Zinde-Walsh and Peter Phillips

1390: GMM Estimation of Autoregressive Roots Near Unity with Panel Data

Hyungsik Moon and Peter Phillips

1389: Monetary Equilibrium with Missing Markets

Pradeep Dubey and John Geanakoplos

1388: Testing for a New Economy in the 1990s

Ray Fair

1387: The Economic Consequences of a War with Iraq

William Nordhaus

1386: One Simple Test of Samuelson's Dictum for the Stock Market

Jeeman Jung and Robert Shiller

1385: From Efficient Market Theory to Behavioral Finance

Robert Shiller

1384: Adaptive Local Polynomial Whittle Estimation of Long-range Dependence

Donald Andrews and Yixiao Sun

1383: Fairness, Reciprocity, and Wage Rigidity

Truman F. Bewley

1382: Risk Aversion and Stock Prices

Ray Fair

1381: College Football Rankings and Market Efficiency

Ray Fair and John F. Oster

1380: Demography and the Long-run Predictability of the Stock Market

John Geanakoplos, Michael Magill and Martine Quinzii

1380: Demography and the Long-run Predictability of the Stock Market

John Geanakoplos, Michael Magill and Martine Quinzii

1379: The Value of Benchmarking

Dirk Bergemann and Ulrich Hege

1378: Higher-order Improvements of the Parametric Bootstrap for Long-memory Gaussian Processes

Donald Andrews and Offer Lieberman

1377: Best Response Equivalence

Stephen Morris and Takashi Ui

1376: Econometric Methods for Endogenously Sampled Time Series: The Case of Commodity Price Speculation in the Steel Market

George Hall and John Rust

1375: More Efficient Kernel Estimation in Nonparametric Regression with Autocorrelated Errors

Zhijie Xiao, Oliver Linton, Raymond J. Carroll and Enno Mammen

1374: Error Bounds and Asymptotic Expansions for Toeplitz Product Functionals of Unbounded Spectra

Offer Lieberman and Peter Phillips

1373: The KPSS Test with Seasonal Dummies

Sainan Jin and Peter Phillips

1372: Limit Theorems for Estimating the Parameters of Differentiated Product Demand Systems

Steven Berry, Oliver Linton and Ariel Pakes

1371: Unmediated Communication in Games with Complete and Incomplete Information

Dino Gerardi

1370: The Block-block Bootstrap: Improved Asymptotic Refinements

Donald Andrews

1369: End-of-Sample Instability Tests

Donald Andrews

1368: The Mildest Recession: Outputs, Profits, and Stock Prices as the U.S. Emerges from the 2001 Recession

William Nordhaus

1367: Exact Local Whittle Estimation of Fractional Integration

Katsumi Shimotsu and Peter Phillips

1366: Nonlinear Log-Periodogram Regression for Perturbed Fractional Processes

Yixiao Sun and Peter Phillips

1365: Dynamics of the Federal Funds Target Rate: A Nonstationary Discrete Choice Approach

Ling Hu and Peter Phillips

1364: Nonstationary Discrete Choice

Ling Hu and Peter Phillips

1363: Efficient Regression in Time Series Partial Linear Models

Peter Phillips, Binbin Guo and Zhijie Xiao

1362: Dynamic Panel Estimation and Homogeneity Testing Under Cross Section Dependence

Peter Phillips and Donggyu Sul

1361: Valid Edgeworth Expansions for the Whittle Maximum Likelihood Estimator for Stationary Long-memory Gaussian Time Series

Donald Andrews and Offer Lieberman

1360: From Nash to Walras via Shapley-Shubik

Pradeep Dubey and John Geanakoplos

1359: Partially Linear Models with Unit Roots

Ted Juhl and Zhijie Xiao

1358: Competition In or For the Field: Which Is Better?

Eduardo Engel, Ronald Fischer and Alexander Galetovic

1357: Macroeconomic Strategy in Wartime

James Tobin

1356: Consistent Testing for Stochastic Dominance: A Subsampling Approach

Oliver Linton, Esfandiar Maasoumi and Yoon-Jae Whang

1355: The Health of Nations: The Contribution of Improved Health to Living Standards

William Nordhaus

1354: Highway Franchising and Real Estate Values

Eduardo Engel, Ronald Fischer and Alexander Galetovic

1353: How to Auction an Essential Facility When Underhand Integration Is Possible

Eduardo Engel, Ronald Fischer and Alexander Galetovic

1352: I'll See It When I Believe It - A Simple Model of Cognitive Consistency

Leeat Yariv

1351: Valid Asymptotic Expansions for the Maximum Likelihood Estimator of the Parameter of a Stationary, Gaussian, Strongly Dependent Process

Offer Lieberman, Judith Rousseau and David M. Zucker

1350: An Optimal Fair Job Assignment Problem

Zaifu Yang

1349: Asymptotic Theory for Multivariate GARCH Processes

F. Comte and Offer Lieberman

1348: Penalised Maximum Likelihood Estimation for Fractional Guassian Processes

Offer Lieberman

1347: On Fair Allocations and Indivisibilities

Ning Sun and Zaifu Yang

1346: Competitive Pooling: Rothschild-Stiglitz Reconsidered

Pradeep Dubey and John Geanakoplos

1346: Competitive Pooling: Rothschild-Stiglitz Reconsidered

Pradeep Dubey and John Geanakoplos

1345: Bootstrapping Macroeconometric Models

Ray Fair

1344: Believe and Let Believe: Axiomatic Foundations for Belief Dependent Utility Functionals

Leeat Yariv

1343: Money and the Monetization of Credit

Martin Shubik