Cowles Foundation Discussion Papers

From Cowles Foundation for Research in Economics, Yale University
Yale University, Box 208281, New Haven, CT 06520-8281 USA.
Contact information at EDIRC.
Bibliographic data for series maintained by Brittany Ladd ().

Access Statistics for this working paper series.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

1204: A Theory of the Onset of Currency Attacks

Stephen Morris and Hyun Song Shin

1203: Cheap Talk and Co-ordination with Payoff Uncertainty

Sandeep Baliga and Stephen Morris

1202: Fiat Money and the Efficient Financing of the Float, Production and Consumption. Part I: The Float

Martin Shubik

1201: Requiem for Kyoto: An Economic Analysis of the Kyoto Protocol

William Nordhaus and Joseph G. Boyer

1200: The Health of Nations: Irving Fisher and the Contribution of Improved Longevity to Living Standards

William Nordhaus

1199: Price Competition for an Informed Buyer

Giuseppe Moscarini and Marco Ottaviani

1198: Jeffreys Prior Analysis of the Simultaneous Equations Model in the Case with n+1 Endogenous Variables

John Chao and Peter Phillips

1197: Rissanen's Theorem and Econometric Time Series

Werner Ploberger and Peter Phillips

1196: New Unit Root Asymptotics in the Presence of Deterministic Trends

Peter Phillips

1195: Finance Applications of Game Theory

Franklin Allen and Stephen Morris

1194: Would a Privatized Social Security System Really Pay a Higher Rate of Return?

John Geanakoplos, Olivia Mitchell and Stephen Zeldes

1193: Social Security Money's Worth

John Geanakoplos, Olivia Mitchell and Stephen Zeldes

1192: Higher Order Approximations for Wald Statistics in Cointegrating Regressions

Zhijie Xiao and Peter Phillips

1191: How to Estimate Autoregressive Roots Near Unity

Peter Phillips, Hyungsik Moon and Zhijie Xiao

1190: Nonlinear Regressions with Integrated Time Series

Joon Park and Peter Phillips

1189: A Primer on Unit Root Testing

Peter Phillips and Zhijie Xiao

1188: Financial Globalization: Can National Currencies Survive?

James Tobin

1187: Monetary Policy: Recent Theory and Practice

James Tobin

1186: Nonparametric Censored Regression

Arthur Lewbel and Oliver Linton

1185: Social Security and Institutions for Intergenerational, Intragenerational and International Risk Sharing

Robert Shiller

1184: Game Theory, Complexity and Simplicity. Part III: Critique and Prospective

Martin Shubik

1183: A Strategic Market Game with Active Bankruptcy

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

1182: Asymptotics for Nonlinear Transformations of Integrated Time Series

Peter Phillips and Joon Park

1181: Nonstationary Density Estimation and Kernel Autoregression

Peter Phillips and Joon Park

1180: Econometric Analysis of Fisher's Equation

Peter Phillips

1179: Designing Indexed Units of Account

Robert Shiller

1178: On the Skiadas 'Conditional Preference Approach' to Choice Under Uncertainty

Simon Grant, Atsushi Kajii and Ben Polak

1177: Moral Hazard in Home Equity Conversion

Robert Shiller and Allan N. Weiss

1176: Wald Revisited: The Optimal Level of Experimentation

Giuseppe Moscarini and Lones Smith

1175: Estimation of Nonparametric Functions in Simultaneous Equations Models, with an Application to Consumer Demand

Donald Brown and Rosa Matzkin

1174: Some Simple Games for Teaching and Research. Part 1: Cooperative Games

Martin Shubik

1173: The Equivalence of the Dekel-Fudenberg Iterative Procedure and Weakly Perfect Rationalizability

P. Jean-Jacques Herings and Vincent Vannetelbosch

1172: Human Behavior and the Efficiency of the Financial System

Robert Shiller

1171: Indexed Units of Account: Theory and Assessment of Historical Experience

Robert Shiller

1170: Uniqueness, Stability, and Comparative Statics in Rationalizable Walrasian Markets

Donald Brown and Chris Shannon

1169: Non-Convex Costs and Capital Utilization: A Study of Production Scheduling at Automobile Assembly Plants

George Hall

1168: Evaluating the Information Content and Money Making Ability of Forecasts from Exchange Rate Equations

Ray Fair

1167: Why Not Cut Pay?

Truman F. Bewley

1166: Multifractality of Deutschemark/US Dollar Exchange Rates

Adlai Fisher, Laurent Calvet and Benoît Mandelbrot

1165: Large Deviations and the Distribution of Price Changes

Laurent Calvet, Adlai Fisher and Benoît Mandelbrot

1164: A Multifractal Model of Asset Returns

Benoît Mandelbrot, Adlai Fisher and Laurent Calvet

1163: Band Spectral Regression with Trending Data

P. Dean Corbae, Sam Ouliaris and Peter Phillips

1162: Regressions for Partially Identified, Cointegrated Simultaneous Equations

In Choi and Peter Phillips

1161: An ADF Coefficient Test for a Unit Root in ARMA Models of Unknown Order with Empirical Applications to the U.S. Economy

Zhijie Xiao and Peter Phillips

1160: The Existence and Asymptotic Properties of a Backfitting Projection Algorithm Under Weak Conditions

Oliver Linton, Enno Mammen and J. Nielsen

1159: The Experiment in Applied Econometrics

James Tobin

1158: A Model of a Predatory State

Boaz Moselle and Ben Polak

1157: A Simple Counterexample to the Bootstrap

Donald Andrews

1156: A Stochastic Infinite-Horizon Economy with Secured Lending, or Unsecured Lending and Bankruptcy

Ioannis Karatzas, Martin Shubik and William D. Sudderth

1155: Model Selection in Partially Nonstationary Vector Autoregressive Processes with Reduced Rank Structure

John Chao and Peter Phillips

1154: The Significance of the Market Portfolio

Stefano G. Athanasoulis and Robert Shiller

1153: Estimation When a Parameter Is on a Boundary: Theory and Applications

Donald Andrews

1152: Beyond the CPI: An Augmented Cost of Living Index (ACOLI)

William Nordhaus

1151: Second Order Approximation in a Linear Regression with Heteroskedasticity for Unknown Form

Oliver Linton

1150: Supply Constraints on Employment and Output: NAIRU Versus Natural Rate

James Tobin

1149: Can We Grow Faster?

James Tobin

1148: Some Higher Order Theory for a Consistent Nonparametric Model Specification Test

Yanqin Fan and Oliver Linton

1147: Asset Markets and Investment Decisions

Anja De Waegenaere, Heracles M. Polemarchakis and Luigi Ventura

1146: Consistent Moment Selection Procedures for Generalized Method of Moments Estimation

Donald Andrews

1145: Expanding the Scope of Individual Risk Management: Moral Hazard and Other Behavioral Considerations

Robert Shiller

1144: Stochastic Algorithms for Dynamic Models: Markov Perfect Equilibrium, and the 'Curse' of Dimensionality

Ariel Pakes and Paul McGuire

1143: Promises Promises

John Geanakoplos

1142: The Generalized War of Attrition

Jeremy I. Bulow and Paul Klemperer

1141: On the Number of Bootstrap Repetitions for Bootstrap Standard Errors, Confidence Intervals, and Tests

Donald Andrews and Moshe Buchinsky

1140: Conditional Independence Restrictions: Testing and Estimation

Oliver Linton and Pedro Gozalo

1139: Hyperfinite Asset Pricing Theory

M. Khan and Yeneng Sun

1138: Market Diffusion with Two-Sided Learning

Dirk Bergemann and Juuso Välimäki

1137: Bayesian Posterior Distributions in Limited Information Analysis of the Simultaneous Equations Model Using the Jeffreys Prior

John Chao and Peter Phillips

1136: Prices, Asset Markets and Indeterminacy

Heracles M. Polemarchakis and P. Siconolfi

1135: Spurious Regression Unmasked

Peter Phillips

1134: Efficiency Gains from Quasi-Differencing Under Nonstationarity

Peter Phillips and Chin Chin Lee

1133: Exchange and Optimality

S. Ghosal and Heracles M. Polemarchakis

1132: Price Variations in a Stock Market with Many Agents

P. Bak, M. Paczuski and Martin Shubik

1131: Nash and Walras Equilibrium

John Geanakoplos

1130: The Asymptotic Distribution of Nonparametric Estimates of the Lyapunov Exponent for Stochastic Time Series

Yoon-Jae Whang and Oliver Linton

1129: Estimated Inflation Costs Had European Unemployment Been Reduced in the 1980s by Macro Prices

Ray Fair

1128: The Hangman's Paradox and Newcomb's Paradox as Psychological Games

John Geanakoplos

1127: Matrices with Identical Sets of Neighbors

Imre Barany and Herbert Scarf

1126: Incomplete Derivative Markets and Portfolio Insurance

Charalambos Aliprantis, Donald Brown and Jan Werner

1125: A Scorecard for Indexed Government Debt

John Campbell and Robert Shiller

1124: Tests of Seasonal and Non-Seasonal Serial Correlation

Donald Andrews, Xuemei Liu and Werner Ploberger

1123: Three Brief Proofs of Arrow's Impossibility Theorem

John Geanakoplos

1122: Market Experimentation and Pricing

Dirk Bergemann and Juuso Välimäki

1121: Testing the Standard View of the Long-Run Unemployment-Inflation Relationship

Ray Fair

1120: A Stopping Rule for the Computation of Generalized Method of Moments Estimators

Donald Andrews

1119: Semiparametric Estimation of a Sample Selection Model

Donald Andrews and Marcia A. Schafgans

1118: An Asymptotic Expansion in the Garch(1,1) Model

Oliver Linton

1117: What is the Value of Scientific Knowledge? An Application to Global Warming Using the PRICE Model

William Nordhaus and David Popp

1116: Explaining the Labor Force Participation of Women 20-24

Ray Fair and Diane Macunovich

1115: Why Do People Dislike Inflation?

Robert Shiller

1114: Preference for Information

Simon Grant, Atsushi Kajii and Ben Polak

1113: Learning and Strategic Pricing

Dirk Bergemann and Juuso Välimäki

1112: Time and Money

Martin Shubik

1111: A Conditional Kolmogorov Test

Donald Andrews

1110: Labor Income Indices Designed for Use in Contracts Promoting Income Risk Management

Robert Shiller and Ryan Schneider

1109: Testable Restrictions on the Equilibrium Manifold

Donald Brown and Rosa Matzkin

1108: Evaluating the Probability of Failure of a Banking Firm

Moshe Buchinsky and Oved Yosha

1107: Information Externalities, Share-Price Based Incentives and Managerial Behaviour

Simon Grant, Stephen King and Ben Polak

1106: Testing Additivity in Generalized Nonparametric Regression Models

Oliver Linton and Pedro Gozalo

1105: Adaptive Testing in ARCH Models

Oliver Linton and Douglas Steigerwald