Contractual inefficiencies within supply chains increase an input price above its marginal cost, therefore they are considered detrimental to consumer surplus. We argue that such inefficiencies may be beneficial to consumers in qualitydifferentiated markets. Indeed, enhancing contractual efficiency in high-quality supply chains may adversely affect the market structure by driving low-quality ve…

This article provides new evidence on heterogeneity in the impact of health shocks by using register-based data on the entire population of Swedish workers. We formulate a difference-in-difference design, where we compare the change in labour earnings across matched workers with a high and low level of education who experience the same type of health shocks. Our results suggest major heterogene…

Has inflation targeting (IT) conferred benefits in terms of economic growth on countries that followed this particular monetary policy strategy during the crisis period 2007�13? We answer this question in the affirmative. Countries with an IT monetary regime weathered the crisis much better than did countries with other monetary regimes, particularly countries with fixed exchange rates.

A disturbing phenomenon in modern welfare states is the positive correlation in the probability of receiving disability benefits across generations. Understanding the intergenerational transmission mechanism is crucial, especially when the proportion of the working-age population receiving public benefits or support is increasing in most OECD countries. Using data from Norway, a country where a…

I develop a game-theoretic model in which the state first allocates limited resources across defensive and offensive security measures, simultaneously choosing whether to attempt forceful elimination of the group. The group subsequently chooses whether to use terrorism or attempt to take territory via guerrilla tactics. The results suggest that states most capable of fighting groups with territ…

Tahun Terbit

2014

Tahun Terbit

2014

A multivariate positive definite estimator of the integrated covariance matrix of noisy and asynchronously observed asset returns is proposed. We adopt a Bayesian Dynamic Linear Model where microstructure noise is interpreted as measurement error, and asynchronous trading as missing observations in an otherwise synchronous series. Missing observations are treated as any other parameter, as typ…

In this article, we compare the local asymptotic and finite sample power of two recently proposed recursive right-tailed Dickey�Fullertype tests for an explosive rational bubble in asset prices. It is shown that the power of the two tests can differ substantially depending on the location of the explosive regime, and whether such a regime ends in collapse. Since this information is typica…

Tahun Terbit

1991

ISBN/ISSN

979-421-106-0

Deskripsi Fisik

xiii, 339hlm.: ill; 22 cm

Judul Seri

Seri pustaka teknologi pendidikan no.8

No. Panggil

374 DAV m