PIER Working Paper Archive

From Penn Institute for Economic Research, Department of Economics, University of Pennsylvania
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15-009: Optimism and Pessimism with Expected Utility, Fifth Version

David Dillenberger, Andrew Postlewaite and Kareen Rozen

15-008: When and How the Punishment Must Fit the Crime

George Mailath, Volker Nocke and Lucy White

15-007: Stochastic Games with Hidden States

Yuichi Yamamoto

15-006: Plausible Cooperation, Fourth Version

Oliver Compte and Andrew Postlewaite

15-005: Memory Utility

Itzhak Gilboa, Andrew Postlewaite and Larry Samuelson

15-004: On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods, Second Version

Rong Hai, Dirk Krueger and Andrew Postlewaite

15-003: Equilibrium Price Dispersion Across and Within Stores

Guido Menzio and Nicholas Trachter

15-002: Financing Innovation with Unobserved Progress

Zehao Hu

15-001: Network Formation and Systemic Risk, Second Version

Selman Erol and Rakesh Vohra

14-045: Using Invalid Instruments on Purpose: Focused Moment Selection and Averaging for GMM, Second Version

Francis DiTraglia

14-044: Transition to Clean Technology

Daron Acemoglu, Ufuk Akcigit, Douglas Hanley and William Kerr

14-043: Fewer but Better: Sudden Stops, Firm Entry, and Financial Selection

Sînâ Ateş and Felipe Saffie

14-042: What Can the Duration of Discovered Cartels Tell Us About the Duration of Cartels?

Joseph Harrington and Yanhao Wei

14-041: Network Effects of Air Travel Demand, Second Version

Yanhao Wei

14-040: Preferences vs. Opportunities: Racial/Ethnic Intermarriage in the United States

Seul-Ki Shin

14-039: How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?

Hans Holter, Dirk Krueger and Serhiy Stepanchuk

14-038: Assessing Point Forecast Accuracy by Stochastic Error Distance

Francis Diebold and Minchul Shin

14-037: Using Invalid Instruments on Purpose: Focused Moment Selection and Averaging for GMM

Francis DiTraglia

14-036: High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk

Fabian Kindermann and Dirk Krueger

14-035: Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries

S. Boragan Aruoba, Pablo Cuba-Borda and Frank Schorfheide

14-034: Dynamic Prediction Pools: An Investigation of Financial Frictions and Forecasting Performance

Marco Del Negro, Raiden Hasegawa and Frank Schorfheide

14-033: Stochastic Games in Continuous Time: Persistent Actions in Long-Run Relationships, Second Version

Aislinn Bohren

14-032: Designing Experiments to Measure Spillover Effects

Sarah Baird, Aislinn Bohren, Craig McIntosh and Berk Özler

14-031: Mass attrition: An analysis of drop out from a Principles of Microeconomics MOOC

Rebecca Stein and Gloria Allione

14-030: One-Sided Matching with Limited Complementarities

Thanh Nguyen, Ahmad Peivandi and Rakesh Vohra

14-029: Network Formation and Systemic Risk

Selman Erol and Rakesh Vohra

14-028: Near Feasible Stable Matchings with Complementarities

Thanh Nguyen and Rakesh Vohra

14-027: The Network Effects of Air-Travel Demand

Yanhao Wei

14-026: A Model of Modeling

Itzhak Gilboa, Andrew Postlewaite, Larry Samuelson and David Schmeidler

14-025: How Central Banks End Crises

Gary Gorton and Guillermo Ordoñez

14-024: Political Booms, Financial Crises

Helios Herrera, Guillermo Ordoñez and Christoph Trebesch

14-023: Analyzing the Effects of Insuring Health Risks: On the Trade-off between Short Run Insurance Benefits vs. Long Run Incentive Costs

Harold Cole, Soojin Kim and Dirk Krueger

14-022: Banks as Secret Keepers

Tri Vi Dang, Gary Gorton, Bengt Holmstrom and Guillermo Ordonez

14-021: Cooperation in Large Societies, Second Version

Francesc Dilme

14-020: Pension design with a large informal labor market: Evidence from Chile

Clément Joubert

14-019: Dynamic Quality Signaling with Hidden Actions

Francesc Dilmé

14-018: Uniform Inference in Nonlinear Models with Mixed Identification Strength

Xu Cheng

14-017: Bond Market Exposures to Macroeconomic and Monetary Policy Risks

Dongho Song

14-016: Product Upgrades and Posted Prices

Mustafa Dogan

14-015: How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?

Hans Holter, Dirk Krueger and Serhiy Stepanchuk

14-014: Dynamic Education Signaling with Dropout Risk, Third Version

Francesc Dilme and Fei Li

14-013: Unemployment Benefit Extensions Caused Jobless Recoveries!?

Kurt Mitman and Stanislav Rabinovich

14-012: On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods, Second Version

Rong Hai, Andrew Postlewaite and Dirk Krueger

14-010: Wealth Gradients in Early Childhood Cognitive Development in Five Latin American Countries

Norbert Schady, Jere Behrman, M. Caridad Araujo, Rodrigo Azuero, Raquel Bernal, David Bravo, Florencia López-Bóo, Karen Macours, Daniela Marshall, Christina Paxson and Renos Vakis

14-009: Large and Small Sellers: A Theory of Equilibrium Price Dispersion with Sequential Search

Guido Menzio and Nicholas Trachter

14-008: Crises and Productivity in Good Booms and in Bad Booms

Gary Gorton and Guillermo Ordonez

14-007: Informational Herding with Model Misspecification

Aislinn Bohren

14-006: Designing Experiments to Measure Spillover Effects

Sarah Baird, Aislinn Bohren, Craig McIntosh and Berk Özler

14-005: Cautious Expected Utility and the Certainty Effect

Simone Cerreia-Vioglio, David Dillenberger and Pietro Ortoleva

14-004: Young, Restless and Creative: Openness to Disruption and Creative Innovations

Daron Acemoglu, Ufuk Akcigit and Murat Celik