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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498: Comparison of Public Choice Systems

Robert Weber

497: Debt Neutrality: A Brief Review of Doctrine and Evidence

Willem Buiter and James Tobin

496: Auctions and Bidding Models: A Survey

Richard Engelbrecht-Wiggans

495: A Model for the Distribution of the Number of Bidders in an Auction

Richard Engelbrecht-Wiggans

494: An Example of a Multi-Object Auction Game

Richard Engelbrecht-Wiggans

493: An Integrated Model of Household Flow-of-Funds Allocations

David Backus and Douglas Purvis

492: An Analysis of the Accuracy of Four Macroeconometric Models

Ray Fair

491: The Role for Active Monetary Policy in a Rational Expectations Model

Laurence Weiss

490: Profitability and Growth in a Small Open Economy

Pentti J.K. Kouri

489: Systems Defense Games: Colonel Blotto, Command and Control

Martin Shubik and Robert Weber

488: Exchange Rates and the International Adjustment Process

Pentti J.K. Kouri and Jorge B. de Macedo

487: A Note on the Saddlepoint Approximation in the First Order Non-Circular Autoregression

Peter Phillips

486: The Transition from Exhaustible to Renewable or Inexhaustible Resources

Tjalling Koopmans

485: The Structure of Neutral Monotonic Social Functions

Julian H. Blau and Donald Brown

484: On 'On the Foundations of the Theory of Monopolistic Competition'

Pradeep Dubey and Martin Shubik

483: A Theory of Money and Financial Institutions. Part 37. The Profit Maximizing Firm: Managers and Stockholders

Pradeep Dubey and Martin Shubik

482: Competitive Valuation of Cooperative Games

Martin Shubik and Robert Weber

481: Myopic Economic Agents

Donald Brown and Lucinda M. Lewis

480: Estimating the Expected Predictive Accuracy of Econometric Models

Ray Fair

479: A Model of the Jury Decision Process

Alvin K. Klevorick and Michael Rothschild

478: The Nucleolus as a Noncooperative Game Solution

Martin Shubik and H. Young

477: Modelling the Choice of Residential Location

Daniel McFadden

476: Game Theory Models and Methods in Political Economy

Martin Shubik

475: Nash Equilibria of Market Games: I. Existence and Convergence

Pradeep Dubey

474: Quantitative Methods for Analyzing Travel Behaviour of Individuals: Some Recent Developments

Daniel McFadden

473: The Computation of Equilibrium Prices: An Exposition

Herbert Scarf

472: The Effects of Money Supply on Economic Welfare

Laurence Weiss

471: Probabilistic Values for Games

Robert Weber

471: Probabilistic Values for Games

Pradeep Dubey and Robert Weber

470: Sealed Bid Auctions with Non-Additive Bid Functions

Richard Engelbrecht-Wiggans

469: The Greedy Heuristic Applied to a Class of Set Partitioning and Subset Selection Problems

Richard Engelbrecht-Wiggans

468: The Long Run Implications of an IS-LM Simulation Model

Gary Smith

467: Information Conditions, Communication and General Equilibrium

Pradeep Dubey and Martin Shubik

466: The Long Run Implications of a Two Sector Model with Immobile Capital

Gary Smith

465: On Modeling the Economic Linkages among Countries

Ray Fair

464: The Long Run Consequences of Monetary and Fiscal Policies When the Governments Budget Is Not Balanced

Gary Smith

463: Deficit Spending and Crowding Out in Shorter and Longer Runs

James Tobin

462: A Theory of Money and Financial Institutions

Martin Shubik

461: Equilibrium and Disequilibrium Interpretations of the IS-LM Model

Gary Smith

460: Strategic Market Games: A Sketch of an Approach to the Theory of Money and Financial Institutions. Together with an Informal Guide to Some Papers

Martin Shubik

459: An Analysis of a Macroeconometric Model with Rational Expectationsin the Bond and Stock Markets

Ray Fair

458: How Dead is Keynes?

James Tobin

457: Modeling Technological Change: Use of Mathematical Programming Models in the Energy Sector

William Nordhaus and Ludo Van der Heyden

456: Monetary Policies and the Economy -- The Transmission Mechanism

James Tobin

455: A Theory of Money and Financial Institutions. Part 22. A Price-Quantity Buy-Sell Market with and without Contingent Bids

Martin Shubik

454: A Theory of Money and Financial Institutions. Part 36. The Money Rate of Interest (A Multiperiod Nonatomic Trading and Production Economy with Outside Money, Inside Money and Optimal Bankruptcy Rules)

Pradeep Dubey and Martin Shubik

453: An Observation on the Structure of Production Sets with Indivisibilities

Herbert Scarf

452: Policy Effects in a Model of the Balance of Payments

Ray Fair

451: A Model of the Balance of Payments

Ray Fair

450: A Shortrun Macroeconomic Model of an Open Economy

Gary Smith

449: What is the Value of Advanced Nuclear Power?

William Nordhaus

448: A Theory of Money and Financial Institutions. Part 35. Bankruptcy and Optimality in a Closed Trading Mass Economy Modelled as a Noncooperative Game

Pradeep Dubey and Martin Shubik

447: Noncooperative Exchange with a Continuum of Traders

Pradeep Dubey and Lloyd Shapley

446: The Sensitivity of Fiscal-Policy Effects to Assumptions about the Behavior of the Federal Reserve

Ray Fair

445: Logrolling and Budget Allocation Games

Martin Shubik and Ludo Van der Heyden

444: An Extension of the Brown-Robinson Equivalence Theorem

Donald Brown and M. Khan

443: Strategies for the Control of Carbon Dioxide

William Nordhaus

442: Can the Government Affect Real Output?: A Critique of Models with Rational Expectations

Ray Fair

441: Theory of Money and Financial Institutions. Part 34. A Multiperiod Trading Economy with Fiat Money, Bank Money and an Optimal Bankruptcy Rule

Martin Shubik

440: Probabilistic Generalizations of the Shapley Value

Pradeep Dubey

439: A Theory of Money and Financial Institutions. Part 33. On the Value of Market Information

Martin Shubik

438: Wages, the Terms of Trade, and the Exchange Rate Regime

Douglas Purvis

437: Price Information and the Economics of Consumerism: A Model of Stochastic Equilibrium

John Sutton

436: A Theory of Extramarital Affairs

Ray Fair

435: Economic Growth and Climate: The Carbon Dioxide Problem

William Nordhaus

434: A Note on the Computation of the Tobit Estimator

Ray Fair

433: The Small-Disturbance-Asymptotic Moments of the Instrumental Variables and Ordinary Least Squares Estimators for a Dynamic Equation with Correlated Errors

Jon K. Peck

432: A Model of Insurance Markets with Asymmetric Information

Charles Wilson

431: A Dynamic Economy with Shares, Fiat, Bank and Accounting Money

Joseph J.M. Evers and Martin Shubik

430: A Model of the World Economy

Ray Fair

429: A Closed Economic System with Production and Exchange Modelled as a Game of Strategy

Pradeep Dubey and Martin Shubik

428: The Linear Exchange Model and Induced Welfare Optima

Rolf R. Mantel

427: Asset Markets and the Cost of Capital

James Tobin and William C. Brainard

426: A Short-Run Two-Commodity Macroeconomic Model

Gary Smith and Willaim Starnes

424: A Theory of Money and Financial Institutions. Part 30 (revised). The Optimal Bankruptcy Rule in a Trading Economy Using Fiat Money

Martin Shubik and Charles Wilson

423: On Disequilibrium Economic Dynamics. Part IV. The Theory of Long-Run Phillips Curve

Katsuhito Iwai

422: A Theory of Money and Financial Institutions. Part 28. The Noncooperative Equilibria of a Closed Trading Economy with Market Supply and Bidding Strategies

Pradeep Dubey and Martin Shubik

421: Concepts of Optimality and Their Uses

Tjalling Koopmans

420: The Use of Optimal Control Techniques to Measure Economic Performance

Ray Fair

419: On a General Approach to Optimality in Game Theory

Eduardas Vilkas

418: The Effects of Economic Events on Votes for President

Ray Fair

417: A Theory of Money and Financial Institutions. Part 27. Beyond General Equilibrium

Martin Shubik

416: A Theory of Money and Financial Institutions. Part 26. On the Number of Types of Markets with Trade in Money

Martin Shubik

415: Inflation Theory and Policy

William Nordhaus

414: A Theory of Money and Financial Institutions. Part 25. A Closed Economy with Exogenous Uncertainty, Different Levels of Information, Money, Futures and Spot Markets

Pradeep Dubey and Martin Shubik

413: A General Equilibrium Model of World Trade. Part II. The Empirical Specification

Victor Ginsburgh and Jean Waelbroeck

412: A General Equilibrium Model of World Trade. Part I. Full Format Computation of Economic Equilibria

Victor Ginsburgh and Jean Waelbroeck

411: On Disequilibrium Economic Dynamics. Part III. A Keynesian Theory of Money Wage Adjustment

Katsuhito Iwai

410: A Theory of Money and Financial Institutions. Part 24. Trade and Prices in a Closed Economy with Exogenous Uncertainty, Different Levels of Information, Money and No Futures Markets

Pradeep Dubey and Martin Shubik

409: Implications of Microeconomic Theory for Community Excess Demand Functions

Rolf R. Mantel

408: Examples of Production Relations Based on Microdata

Tjalling Koopmans

407: The Influence of Interest Rates on Resource Prices

Geoffrey Heal

406: The Values of a Nonstandard Competitive Allocation

Donald Brown and Peter A. Loeb

405: The Demand for Energy: An International Perspective

William Nordhaus

404: The Estimation of a Dynamic Equation Following a Preliminary Test for Autocorrelation

Jon K. Peck

403: Price Taking or Price Making Behavior: An Alternative to Full Cost Price Functions

Victor Ginsburgh and Israel Zang

402: A Critical Analysis of Ridge Regression

Frank Campbell and Gary Smith

401: Invariant Competitive Equilibrium in an Infinity-Horizon Economy with Negotiable Shares

Joseph J.M. Evers

400: A Control Variable Investigation of the Properties of Autoregressive Instrumental Variables Estimators for Dynamic Systems

David Hendry and Frank Srba

399: The Limiting Distribution of Inconsistent Instrumental Variables Estimators in a Class of Stationary Stochastic Systems

David Hendry