The Cowles Foundation for Research in Economics at Yale University has as its purpose the conduct and encouragement of research in economics. The Cowles Foundation seeks to foster the development and application of rigorous logical, mathematical, and statistical methods of analysis. Among its activities, the Cowles Foundation provides financial support for research, visiting faculty, postdoctoral fellowships, workshops, and graduate students. Cowles regularly sponsors conferences and publishes a working paper series, a reprint series, and monographs.

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Submissions from 2000

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Confidence Intervals, Donald W.K. Andrews and Moshe Buchinsky

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Bargaining and Markets: Complexity and the Walrasian Outcome, Hamid Sabourian

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Default in a General Equilibrium Model with Incomplete Markets, Pradeep Dubey, John Geanakoplos, and Martin Shubik

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Information Acquisition and Efficient Mechanism Design, Dirk Bergemann and Juuso Välimäki

Submissions from 1999

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Coordination Risk and the Price of Debt, Stephen Morris and Hyun Song Shin

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Coordination Risk and the Price of Debt, Stephen Morris and Hyun Song Shin

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Discrete Fourier Transforms of Fractional Processes, Peter C.B. Phillips

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Maximum Likelihood Estimation in Panels with Incidental Trends, Hyungsik Roger Moon and Peter C.B. Phillips

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Nonlinear Econometric Models with Cointegrated and Deterministically Trending Regressors, Yoosoon Chang, Joon Y. Park, and Peter C.B. Phillips

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Political Correctness, Stephen Morris

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Unit Root Log Periodogram Regression, Peter C.B. Phillips

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Repeated Games with Almost-Public Monitoring, George J. Mailath and Stephen Morris

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Stationary Multi Choice Bandit Problems, Dirk Bergemann and Juuso Välimäki

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Strategic Buyers and Privately Observed Prices, Dirk Bergemann and Juuso Välimäki

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Survey of Multifractality in Finance, Benoit Mandelbrot

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World Income Components: Measuring and Exploiting Risk-Sharing Opportunities, Stefano G. Athanasoulis and Robert J. Shiller

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Contractual Intermediaries, Garey Ramey and Joel Watson

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Consistent Model and Moment Selection Criteria for GMM Estimation with Application to Dynamic Panel Data Models, Donald W.K. Andrews and Biao Lu

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On Minsky's Agenda for Reform, James Tobin

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Higher-order Improvements of a Computationally Attractive k-step Bootstrap for Extremum Estimators, Donald W.K. Andrews

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Higher-order Improvements of a Computationally Attractive k-Step Bootstrap for Extremum Estimators, Donald W.K. Andrews

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Testing When a Parameter Is on the Boundary of the Maintained Hypothesis, Donald W.K. Andrews

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Vertical Integration, Networks, and Markets, Rachel E. Kranton and Deborah F. Minehart

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Vertical Integration, Networks, and Markets], Rachel E. Kranton and Deborah F. Minehart

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An Empirical Model of Inventory Investment by Durable Commodity Intermediaries, George J. Hall and John Rust

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Descriptive Econometrics for Nonstationary Time Series with Empirical Illustrations, Peter C.B. Phillips

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Entry and Innovation in Vertically Differentiated Markets, Dirk Bergemann and Juuso Välimäki

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Estimation of Autoregressive Roots Near Unity Using Panel Data, Hyungsik Roger Moon and Peter C.B. Phillips

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Linear Regression Limit Theory for Nonstationary Panel Data, Peter C.B. Phillips and Hyungsik Roger Moon

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Nonstationary Binary Choice, Joon Y. Park and Peter C.B. Phillips

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Nonstationary Panel Data Analysis: An Overview of Some Recent Developments, Peter C.B. Phillips and Hyungsik Roger Moon

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Toward a Theory of Reinsurance and Retrocession, Michael R. Powers and Martin Shubik

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Conditioning Institutions and Renegotiation, Garey Ramey and Joel Watson

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Starting Small and Commitment, Joel Watson

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Starting Small in an Unfamiliar Environment, James Rauch and Joel Watson

Contract-Theoretic Approaches to Wages and Displacement, Wouter J. den Haan, Garey Ramey, and Joel Watson

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Experimentation in Markets, Dirk Bergemann and Juuso Välimäki

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Liquidity Flows and Fragility of Business Enterprises, Wouter J. den Haan, Garey Ramey, and Joel Watson

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Empirical Limits for Time Series Econometric Models, Werner Ploberger and Peter C.B. Phillips

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Measuring Bubble Expectations and Investor Confidence, Robert J. Shiller

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Rationalizable Trade, Stephen Morris and Costis Skiadas

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The Hierarchical Approach to Modeling Knowledge and Common Knowledge, Ronald Fagin, John Geanakoplos, Joseph Y. Halpern, and Moshe Y. Vardi

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Pareto Improving Price Regulation When the Asset Market Is Incomplete, Jean-Jacques Herings and Heracles M. Polemarchakis

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Work Motivation, Truman F. Bewley

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Decomposable Choice Under Uncertainty, Simon Grant, Atsushi Kajii, and Ben Polak

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Preference for Information and Dynamic Consistency, Simon Grant, Atsushi Kajii, and Ben Polak

Submissions from 1998

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A Theory of the Onset of Currency Attacks, Stephen Morris and Hyun Song Shin

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Cheap Talk and Co-ordination with Payoff Uncertainty, Sandeep Baliga and Stephen Morris

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Dynamic Common Agency, Dirk Bergemann and Juuso Välimäki

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Estimating Yield Curves by Kernel Smoothing Methods, Oliver B. Linton, E. Mammen, Jens Perch Nielsen, and C. Tanggaard

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

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Jeffreys Prior Analysis of the Simultaneous Equations Model in the Case with n + 1 Endogenous Variables, John C. Chao and Peter C.B. Phillips

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New Unit Root Asymptotics in the Presence of Deterministric Trends, Peter C.B. Phillips

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Price Competition for an Informed Buyer, Giuseppe Moscarini and Marco Ottaviani

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Requiem for Kyoto: An Economic Analysis of the Kyoto Protocol, William D. Nordhaus and Joseph G. Boyer

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Rissanen's Theorem and Econometric Time Series, Werner Ploberger and Peter C.B. Phillips

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The Health of Nations: Irving Fisher and the Contribution of Improved Longevity to Living Standard, William D. Nordhaus

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Finance Applications of Game Theory, Franklin Allen and Stephen Morris

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A Primer on Unit Root Testing, Peter C.B. Phillips and Zhijie Xiao

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Higher Order Approximations for Wald Statistics in Cointegrating Regressions, Zhijie Xiao and Peter C.B. Phillips

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How to Estimate Autoregressive Roots Near Units, Peter C.B. Phillips, Hyungsik Roger Moon, and Zhijie Xiao

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Nonlinear Regressions with Integrated Time Series, Joon Y. Park and Peter C.B. Phillips

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Social Security Money's Worth, John Geanakoplos, Olivia S. Mitchell, and Stephen P. Zeldes

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Would a Privatized Social Security System Really Pay a Higher Rate of Return, John Geanakoplos, Olivia S. Mitchell, and Stephen P. Zeldes

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A Monetary Policy: Recent Theory and Practice, James Tobin

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Financial Globalization: Can National Currencies Survive?, James Tobin

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Nonparametric Censored Regression, Arthur Lewbel and Oliver B. Linton

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Social Security and Institutions for Intergenerational, Intragenerational and International Risk Sharing, Robert J. Shiller

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A Strategic Market Game with Active Bankruptcy, John Geanakoplos, Ioannis Karatzas, Martin Shubik, and William D. Sudderth

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Asymptotics for Nonlinear Transformations of Integrated Time Series, Joon Y. Park and Peter C.B. Phillips

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Econometric Analysis of Fisher’s Equation, Peter C.B. Phillips

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

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Nonstationary Density Estimation and Kernel Autoregression, Peter C.B. Phillips and Joon Y. Park

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Designing Indexed Units of Account, Robert J. Shiller

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Moral Hazard in Home Equity Conversion, Robert J. Shiller and Allan N. Weiss

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On the Skiadas ‘Conditional Preference Approach’ to Choice Under Uncertainty, Simon Grant, Atsushi Kajii, and Ben Polak

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Wald Revisited: The Optimal Level of Experimentation, Giuseppe Moscarini and Lones Smith

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Estimation of Nonparametric Functions in Simultaneous Equations Models, with an Application to Consumer Demand, Donald J. Brown and Rosa L. Matzkin

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Some Simple Games for Teaching and Research. Part 1: Cooperative Games, Martin Shubik

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The Equivalence of the Dekel-Fudenberg Iterative Procedure and Weakly Perfect Rationalizability, Jean-Jacques Herings and Vincent J. Vannetelbosch

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Human Behavior and the Efficiency of the Financial System, Robert J. Shiller

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Indexed Units of Account: Theory and Assessment of Historical Experience, Robert J. Shiller

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Uniqueness, Stability, and Comparative Statics in Rationalizable Walrasian Markets, Donald J. Brown and Chris Shannon

Submissions from 1997

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Evaluating the Information Content and Money Making Ability of Forecasts from Exchange Rate Equations, Ray C. Fair

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Non-Convex Costs and Capital Utilization: A Study of Production Scheduling at Automobile Assembly Plants, George J. Hall

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Why Not Cut Pay?, Truman F. Bewley

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A Multifractal Model of Asset Returns, Benoit Mandelbrot, Adlai Fisher, and Laurent Calvet

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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 C.B. Phillips

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Band Spectral Regression with Trending Data, Dean Corbae, Sam Ouliaris, and Peter C.B. Phillips

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Large Deviations and the Distribution of Price Changes, Laurent Calvet, Adlai Fisher, and Benoit Mandelbrot

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Multifractality of Deutschemark/US Dollar Exchange Rates, Adlai Fisher, Laurent Calvet, and Benoit Mandelbrot

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Regressions for Partially Identified, Cointegrated Simultaneous Equations, In Choi and Peter C.B. Phillips

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The Existence and Asymptotic Properties of a Backfitting Projection Algorithm under Weak Conditions, Oliver B. Linton, E. Mammen, and Jens Perch Nielsen

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A Model of a Predatory State, Boaz Moselle and Ben Polak

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A Stochastic Infinite-horizon Economy with Secured Lending, or Unsecured Lending and Bankruptcy, Ioannis Karatzas, Martin Shubik, and William D. Sudderth

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Simple Counterexample to the Bootstrap, Donald W.K. Andrews

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The Experiment in Applied Econometrics, James Tobin

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Model Selection in Partially Nonstationary Vector Autoregressive Processes with Reduced Rank Structure, John C. Chao and Peter C.B. Phillips

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Estimation When a Parameter Is on a Boundary: Theory and Applications, Donald W.K. Andrews

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The Significance of the Market Portfolio, Stefano G. Athanasoulis and Robert J. Shiller

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Beyond the CPI: An Augmented Cost of Living Index (ACOLI), William D. Nordhaus

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Second Order Approximation in a Linear Regression with Heteroskedasticity for Unknown Form, Oliver B. Linton

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Can We Grow Faster?, James Tobin

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Supply Constraints on Employment and Output: NAIRU versus Natural Rate, James Tobin

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Asset Markets and Investment Decisions, A. De Waegenaere, Heracles M. Polemarchakis, and L. Ventura

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Some Higher Order Theory for a Consistent Nonparametric Model Specification Test, Yanqin Fan and Oliver B. Linton

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Consistent Moment Selection Procedures for Generalized Method of Moments Estimation, Donald W.K. Andrews

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Expanding the Scope of Individual Risk Management: Moral Hazard and Other Behavioral Considerations, Robert J. Shiller

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Stochastic Algorithms for Dynamic Models: Markov Perfect Equilibrium, and the ‘Curse’ of Dimensionality, Ariel Pakes and Paul McGuire

Submissions from 1996

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Promises Promises, John Geanakoplos

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The Generalized War of Attrition, Jeremy I. Bulow and Paul D. Klemperer

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Bayesian Posterior Distributions in Limited Information Analysis of the Simultaneous Equations Model Using the Jeffreys’ Prior, John C. Chao and Peter C.B. Phillips

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Conditional Independence Restrictions: Testing and Estimation, Oliver B. Linton and Pedro Gozalo

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Hyperfinite Asset Pricing Theory, M. Ali Khan and Yeneng Sun

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Market Diffusion with Two-Sided Learning, Dirk Bergemann and Juuso Välimäki

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On the Number of Bootstrap Repetitions for Bootstrap Standard Errors, Confidence Internals, and Tests, Donald W.K. Andrews and Moshe Buchinsky

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Prices, Asset Markets and Indeterminacy, Heracles M. Polemarchakis and P. Siconolfi

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Spurious Regression Unmasked, Peter C.B. Phillips

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Efficiency Gains from Quasi-Differencing under Nonstationarity, Peter C.B. Phillips and Chin Chin Lee

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Exchange and Optimality, S. Ghosal and Heracles M. Polemarchakis

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Price Variations in a Stock Market with Many Agents, Per Bak, Maya Paczuski, and Martin Shubik

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Estimated Inflation Costs Had European Unemployment Been Reduced in the 1980s by Macro Prices, Ray C. Fair

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Nash and Walras Equilibrium Via Brouwer, John Geanakoplos

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Nash and Walras Equilibrium via Brouwer, John Geanakoplos

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Nash and Walras Equilibrium via Brouwer, John Geanakoplos

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The Limiting Behavior of Kernel Estimates of the Lyapunov Exponent for Stochastic Time Series, Yoon-Jae Whang and Oliver B. Linton

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The Hangman's Paradox and Newcomb's Paradox as Psychological Games, John Geanakoplos

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A Scorecard for Indexed Government Debt, John Y. Campbell and Robert J. Shiller

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Hedging with Derivatives in Incomplete Markets, Charalambos D. Aliprantis, Donald J. Brown, and J. Werner

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Matrices with Identical Sets of Neighbors, Imre Bárány and Herbert E. Scarf

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Tests of Seasonal and Non-Seasonal Serial Correlation, Donald W.K. Andrews, Xuemei Liu, and Werner Ploberger

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Three Brief Proofs of Arrow's Impossibility Theorem, John Geanakoplos

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A Stopping Rule for the Computation of Generalized Method of Moments Estimators, Donald W.K. Andrews

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Market Experimentation and Pricing, Dirk Bergemann and Juuso Välimäki

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Semiparametric Estimation of a Sample Selection Model, Donald W.K. Andrews and Marcia A. Schafgans

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Testing the Standard View of the Long-Run Unemployment-Inflation Relationship, Ray C. Fair

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Three Brief Proofs of Arrow's Impossibility Theorem, John Geanakoplos

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Three Brief Proofs of Arrow's Impossibility Theorem, John Geanakoplos

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Two Brief Proofs of Arrow's Impossibility Theorem, John Geanakoplos

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An Asymptotic Expansion in the Garch(1,1) Model, Oliver B. Linton

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Explaining the Labor Force Participation of Women 20-24, Ray C. Fair and Diane J. Macunovich

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What is the Value of Scientific Knowledge? An Application to Global Warming Using the PRICE Model, William D. Nordhaus and David Popp

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Why Do People Dislike Inflation?, Robert J. Shiller

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Learning and Strategic Pricing, Dirk Bergemann and Juuso Välimäki

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Preference for Information, Simon Grant, Atsushi Kajii, and Ben Polak

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Time and Money, Martin Shubik

Submissions from 1995

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A Conditional Kolmogorov Test, Donald W.K. Andrews

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Evaluating the Probability of Failure of a Banking Firm, Moshe Buchinsky and Oved Yosha

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Labor Income Indices Designed for Use in Contracts Promoting Income Risk Management, Robert J. Shiller and Ryan Schneider

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Testable Restrictions on the Equilibrium Manifold, Donald J. Brown and Rosa L. Matzkin

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Information Externalities, Share-Price Based Incentives and Managerial Behaviour, Simon Grant, Stephen King, and Ben Polak

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Testing Additivity in Generalized Nonparametric Regression Models, Pedro Gozalo and Oliver B. Linton

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Adaptive Testing in ARCH Models, Oliver B. Linton and Douglas G. Steigerwald

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Automated Forecasts of Asia-Pacific Economic Activity, Peter C.B. Phillips

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Impulse Response and Forecast Error Variance Asymptotics in Nonstationary VAR's, Peter C.B. Phillips

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Unit Root Tests, Peter C.B. Phillips

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A Strategic Market Game with Secured Lending, Ioannis Karatzas, Martin Shubik, and William D. Sudderth

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Banks versus Bonds: A Simple Theory of Comparative Financial Institutions, Sandeep Baliga and Ben Polak

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How Should We Measure Sustainable Income?, William D. Nordhaus

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Mortgage Default Risk and Real Estate Prices: The Use of Index-Based Futures and Options in Real Estate, Robert J. Shiller, Karl E. Case, and Allan N. Weiss

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World Income Components: Measuring and Exploiting International Risk Sharing Opportunities, Robert J. Shiller and Stefano G. Athanasoulis

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Quantile Regression Model with Unknown Censoring Point, Moshe Buchinsky and Jinyong Hahn

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An Overview of the General Theory, James Tobin

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A Bound on the Number of Nash Equilibria in a Coordination Game, Thomas Quint and Martin Shubik

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Conversation, Information, and Herd Behavior, Robert J. Shiller

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Dumb Bugs and Bright Noncooperative Players: Games, Context and Behavior, Thomas Quint, Martin Shubik, and Dickey Yan

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Evaluating Alternative Monetary Policy Rules, Ray C. Fair and E. Philip Howrey

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Unemployment and Liquidity Constraints, Vassilis A. Hajivassiliou and Yannis M. Ioannides

Submissions from 1994

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A Model of Migration, Thomas Quint and Martin Shubik

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On the Number of Nash Equilibria in a Bimatrix Game, Thomas Quint and Martin Shubik

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The Topological Structure of Maximal Lattice Free Convex Bodies: The General Case, Imre Bárány, Herbert E. Scarf, and David F. Shallcross

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Edgeworth Approximation for MINPIN Estimators in Semiparametric Regression Models, Oliver B. Linton

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Error Bands for Impulse Responses, Christopher A. Sims and Tao Zha

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The Effect of Economic Events on Votes for President: 1992 Update, Ray C. Fair

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Do Real Output and Real Wage Measures Capture Reality? The History of Lighting Suggests Not, William D. Nordhaus

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Fully Modified IV, GIVE and GMM Estimation with Possibly Non-stationary Regressions and Instruments, Yuichi Kitamura and Peter C.B. Phillips

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Model Determination and Macroeconomic Activity, Peter C.B. Phillips

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Nonstationary Time Series and Cointegration: Recent Books and Themes for the Future, Peter C.B. Phillips

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Robust Tests of Forward Exchange Market Efficiency with Empirical Evidence from the 1920’s, Peter C.B. Phillips, James W. McFarland, and Patrick C. McMahon

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Testing for Serial Correlation against an ARMA(1,1) Process, Donald W.K. Andrews and Werner Ploberger

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Insurance Market Games: Scale Effects and Public Policy, Michael R. Powers, Martin Shubik, and Shuntian Yao

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Local Nonlinear Least Squares Estimation: Using Parametric Information Nonparametrically, Pedro Gozalo and Oliver B. Linton

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Home Equity Insurance, Robert J. Shiller and Allan N. Weiss

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Financing Trade and the Price Level: Problems with the Description of Markets, Expectations, Money and Credit, Martin Shubik

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Health Care Reform as Seen by a General Economist, James Tobin

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Is Monetary Policy Becoming Less Effective?, Ray C. Fair

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Ponzi Finance, Government Solvency and the Redundancy or Usefulness of Public Debt, Willem H. Buiter and Kenneth M. Kletzer

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Applied Nonparametric Methods, Wolfgang Härdle and Oliver B. Linton

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A Limit Theorem for a Smooth Class of Semiparametric Estimators, Ariel Pakes and Steven Olley

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Marching to Different Drummers: Coordination and Independence in Monetary and Fiscal Policies, William D. Nordhaus

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The Allocation of Resources in the Presence of Indivisibilities, Herbert E. Scarf

Submissions from 1993

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Second Order Approximation in the Partially Linear Regression Model, Oliver B. Linton

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Robust Nonstationary Regression, Peter C.B. Phillips

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Macroeconomic Shocks in an Aggregative Disequilibrium Model, Vassilis A. Hajivassiliou

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The Natural Rate as New Classical Macroeconomics, James Tobin

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A Simulation Estimation Analysis of the External Debt Crises of Developing Countries, Vassilis A. Hajivassiliou

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Empirical Process Methods in Econometrics, Donald W.K. Andrews

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The Theory of Money and Financial Institutions, Martin Shubik

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Common Knowledge, John Geanakoplos

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Forward Exchange Market Unbiasedness: The Case of the Australian Dollar Since 1984, Peter C.B. Phillips and James W. McFarland

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Nonlinear Econometric Models with Deterministically Trending Variables, Donald W.K. Andrews and John McDermott

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On the Sources and Significance of Interindustry Differences in Technological Opportunities, Alvin K. Klevorick, Richard C. Levin, Richard R. Nelson, and Sidney G. Winter

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Admissibility of the Likelihood Ratio Test When a Nuisance Parameter Is Present Only under the Alternative, Donald W.K. Andrews and Werner Ploberger

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Classical Estimation Methods for LDV Models Using Simulation, Vassilis A. Hajivassiliou and Paul A. Ruud

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Simulating Normal Rectangle Probabilities and Their Derivatives: The Effects of Vectorization, Vassilis A. Hajivassiliou

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Aggregate Income Risks and Hedging Mechanisms, Robert J. Shiller

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The Money Rate of Interest and the Influence of Assets in a Multistage Economy with Gold or Paper Money: Part I, Martin Shubik and Shuntian Yao

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The Money Rate of Interest and the Influence of Assets in a Multistage Economy with Gold or Paper Money: Part II, Martin Shubik and Shuntian Yao

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Fully Modified Least Squares and Vector Autoregression, Peter C.B. Phillips

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Hypothesis Testing with a Restricted Parameter Space, Donald W.K. Andrews

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Measuring the Impact of Global Warming in Agriculture, Robert Mendelsohn, William D. Nordhaus, and Daigee Shaw

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Adaptive Estimation in ARCH Models, Oliver B. Linton

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An Old Keynesian Counterattacks, James Tobin

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A Strategic Market Game with Seigniorage Costs of Fiat Money, Martin Shubik and Dimitrios P. Tsomocos

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Behavioral Heterogeneity and Cournot Oligopoly Equilibrium, Jean-Michel Grandmont

Submissions from 1992

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An Alternative Theory of Firm and Industry Dynamics, Richard Ericson and Ariel Pakes

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Hyper-Consistent Estimation of a Unit Root in Time Series Regression, Peter C.B. Phillips

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Measuring Asset Values for Cash Settlement in Derivative Markets: Hedonic Repeated Measures Indices and Perpetual Futures, Robert J. Shiller

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Some Dynamics of a Strategic Market Game with a Large Number of Agents, John M. Miller and Martin Shubik

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Some Exact Distribution Theory for Maximum Likelihood Estimators of Cointegrating Coefficients in Error Correction Models, Peter C.B. Phillips

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The Complex of Maximal Lattice Free Simplices, Imre Bárány, Roger Howe, and Herbert E. Scarf

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The Large Sample Correspondence Between Classical Hypothesis Tests and Bayesian Posterior Odds Tests, Donald W.K. Andrews

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Construction of Stationary Markov Equilibria in a Strategic Market Game, Ioannis Karatzas, Martin Shubik, and William D. Sudderth

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Time Series Modeling with a Bayesian Frame of Reference: Concepts, Illustrations and Asymptotics, Peter C.B. Phillips and Werner Ploberger

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Is Gold an Efficient Store of Value?, Pradeep Dubey, John Geanakoplos, and Martin Shubik

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Poverty in Relation to Macroeconomic Trends, Cycles, and Policies, James Tobin

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Tjalling Charles Koopmans (August 28, 1910–February 26, 1985), Herbert E. Scarf

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Approximately Median-Unbiased Estimation of Autoregressive Models with Applications to U.S. Macroeconomic and Financial Time Series, Donald W.K. Andrews and Hong-Yuan Chen

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Bayes Methods for Trending Multiple Time Series with an Empirical Application to the US Economy, Peter C.B. Phillips

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Bayes Models and Forecasts of Australian Macroeconomic Time Series, Peter C.B. Phillips

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Bayesian Model Selection and Prediction with Empirical Applications, Peter C.B. Phillips

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On the Periodic Structure of the Business Cycle, Eric Ghysels

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A Nine Variable Probabilistic Macroeconomic Forecasting Model, Christopher A. Sims

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Expectations Driven Nonlinear Business Cycles, Jean-Michel Grandmont

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Rolling the ‘Dice’: An Optimal Transition Path for Controlling Greenhouse Gases, William D. Nordhaus

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An Introduction to Econometric Random Variables, Donald W.K. Andrews

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A Note on the Dual Approach to the Existence and Characterization of Optimal Consumption Decisions under Uncertainty and Liquidity Constraints, Vassilis A. Hajivassiliou and Yannis M. Ioannides

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Christmas, Spring and the Dawning of Economic Recovery, Eric Ghysels

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Posterior Odds Testing for a Unit Root with Data-Based Model Selection, Peter C.B. Phillips and Werner Ploberger

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Simulation of Multivariate Normal Orthant Probabilities: Theoretical and Computational Results, Vassilis A. Hajivassiliou, Daniel McFadden, and Paul A. Ruud

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Optimal Changepoint Tests for Normal Linear Regression, Donald W.K. Andrews, Inpyo Lee, and Werner Ploberger

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Optimal Tests When a Nuisance Parameter is Present Only under the Alternative, Donald W.K. Andrews and Werner Ploberger

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Expanding the Scope of Expectations Data Collection: The U.S. and Japanese Stock Markets, Robert J. Shiller, Fumiko Kon-Ya, and Yoshiro Tsutsui

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Interpreting the Macroeconomic Time Series Facts: The Effects of Moentary Policy, Christopher A. Sims

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Money, James Tobin

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Estimates of the Bias of Lagged Dependent Variable Coefficient Estimates in Macroeconomic Equations, Ray C. Fair

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The Cowles Commission Approach, Real Business Cycle Theories, and New Keynesian Economics, Ray C. Fair

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The ‘Dice’ Model: Background and Structure of a Dynamic Integrated Climate-Economy Model of the Economics of Global Warming, William D. Nordhaus

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The Impact Climate on Agriculture: A Ricardian Approach, Robert Mendelsohn, William D. Nordhaus, and Daigee Shaw

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Empirical Implications of Arbitrage-Free Asset Markets, S. Maheswaran and Christopher A. Sims

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Index-Based Futures and Options Markets in Real Estate, Karl E. Case, Robert J. Shiller, and Allan N. Weiss

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Simulation Estimation Methods for Limited Dependent Variable Models, Vassilis A. Hajivassiliou

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Transactions Loans, Intertemporal Loans, Variable Velocity, the Rates of Interest and Commodity Money: Part 1. Transactions Loans, Martin Shubik and Shuntian Yao

Submissions from 1991

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A Bayesian Analysis of Trend Determination in Economic Time Series, Eric Zivot and Peter C.B. Phillips

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A Reexamination of the Consumption Function Using Frequency Domain Regressors, Dean Corbae, Sam Ouliaris, and Peter C.B. Phillips

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Classification of Two-Person Ordinal Bimatrix Games, Imre Bárány, Jon Lee, and Martin Shubik

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Commentary on Irving Fisher, James Tobin

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English Translation, Yale University Press, James Tobin

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International Currency Regimes, Capital Mobility, and Macroeconomic Policy, James Tobin

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On the Internationalization of Portfolios, William C. Brainard and James Tobin

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Price Flexibility and Output Stability: An Old Keynesian View, James Tobin

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The Long-Run Australian Consumption Function Reexamined: An Empirical Exercise in Bayesian Influence, Peter C.B. Phillips

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The Tail Behavior of Maximum Likelihood Estimates of Cointegrating Coefficients in Error Correction Models, Peter C.B. Phillips

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Unidentified Components in Reduced Rank Regression Estimation of ECM's, Peter C.B. Phillips

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Unit Roots, Peter C.B. Phillips

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Vector Autoregression and Causality: A Theoretical Overview and Simulation Study, Hiro Y. Toda and Peter C.B. Phillips

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An Implementation of the Generalized Basis Reduction Algorithm for Integer Programming, William Cook, Thomas Rutherford, Herbert E. Scarf, and David F. Shallcross

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Bayesian Routes and Unit Roots: de rebus prioribus semper est disputandum, Peter C.B. Phillips

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Comment on ‘To Criticize the Critics’, by Peter C.B. Phillips, Christopher A. Sims

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Dynamic Structural Models: Problems and Prospects. Mixed Continuous Discrete Controls and Market Interactions, Ariel Pakes

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How Fast Do Old Men Slow Down?, Ray C. Fair

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The Ecology of Markets, William D. Nordhaus

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Transformations of the Commodity Space, Behavioral Heterogeneity and the Aggregation Problem, Jean-Michel Grandmont

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Repeated Games: Cooperation and Rationality, David G. Pearce

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Stabilizing the Soviet Economy, William D. Nordhaus

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A Bound of the Proportion of Pure Strategy Equilibria in Generic Games, Faruk Gul, David G. Pearce, and Ennio Stacchetti

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An ‘Average’ Lyapunov Convexity Theorem and Some Core Equivalence Results, Lin Zhou

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Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root: How Sure Are We That Economic Time Series Have a Unit Root?, Denis Kwiatkowski, Peter C.B. Phillips, and Peter Schmidt

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The Spurious Effect of Unit Roots on Exogeneity Tests in Vector Autoregressions: An Analytical Study, Hiro Y. Toda and Peter C.B. Phillips

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Time Series Modelling with a Bayesian Frame of Reference: I. Concepts and Illustrations, Peter C.B. Phillips and Werner Ploberger

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Vector Autoregression and Causality, Hiro Y. Toda and Peter C.B. Phillips

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Exactly Unbiased Estimation of First Order Autoregressive/Unit Root Models, Donald W.K. Andrews

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-Person Game and Endogenous Coalition Formation, Lin Zhou

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Dual Distribution in Franchising, Nancy Gallini and Nancy A. Lutz

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Strictly Fair Allocations in Large Exchange Economies, Lin Zhou

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Actual and Warranted Relations Between Asset Prices, Andrea E. Beltratti and Robert J. Shiller

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Arithmetic Repeat Sales Price Estimators, Robert J. Shiller

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Economic Equilibrium and Soviet Economic Reform, Herbert E. Scarf

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Shortest Integer Vectors, Herbert E. Scarf and David F. Shallcross

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Tests of Specification for Parametric and Semiparametric Models, Yoon-Jae Whang and Donald W.K. Andrews

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The Invisible Hand in Modern Macroeconomics, James Tobin

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The Method of Simulated Scores for the Estimation of LDV Models with an Application to External Debt Crisis, Vassilis A. Hajivassiliou and Daniel McFadden

Submissions from 1990

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A Strategic Market Game with a Mutual Bank with Fractional Reserves and Redemption in Gold (A Continuum of Traders), Martin Shubik and Dimitrios P. Tsomocos

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Default and Bankruptcy in a Multistage Exchange Economy, Martin Shubik

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A Strategic Market Game of a Finite Economy with a Mutual Bank, Martin Shubik and Jingang Zhao

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On the Convex Hull of the Integer Points, Antal Balog and Imre Bárány

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Estimation of Multinomial Models Using Weak Monotonicity Assumptions, Rosa L. Matzkin

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Least Concavity and the Distribution-Free Estimation of Non-Parametric Concave Functions, Rosa L. Matzkin

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The Price for the Widow's Cruse: Or the Value of an Infinitely Productive Asset, Martin Shubik

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Inefficiency of Strategy-Proof Allocation Mechanisms in Pure Exchange Economies, Lin Zhou

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Smooth Unbiased Multivariate Probability Simulators for Maximum Likelihood Estimation of Limited Dependent Variable Models, Vassilis A. Hajivassiliou and Axel Borsch-Supan

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Stock Prices and Bond Yields: Can Their Co-Movements Be Explained in Terms of Present Value Models?, Robert J. Shiller and Andrea E. Beltratti

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The Hybrid Solutions of an n-Person Game, Jingang Zhao

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A Functional Central Limit Theorem for Strong Mixing Stochastic Processes, Donald W.K. Andrews and David Pollard

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International Diversification of Social and Private Risk: The US and Japan, Stephen S. Golub

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Popular Attitudes Towards Free Markets: The Soviet Union and the United States Compared, Robert J. Shiller, Maxim Boycko, and Vladimir Korobov

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A Shortcut to LAD Estimator Asymptotics, Peter C.B. Phillips

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Operational Algebra and Regression t-Tests, Peter C.B. Phillips

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Testing Covariance Stationarity under Moment Condition Failure with an Application to Common Stock Returns, Peter C.B. Phillips and Mico Loretan

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To Criticize the Critics: An Objective Bayesian Analysis of Stochastic Trends, Peter C.B. Phillips

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The Frobenius Problem and Maximal Lattice Free Bodies, Herbert E. Scarf and David F. Shallcross

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The Generalized Basis Reduction Algorithm, Herbert E. Scarf and László Lovász

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Further Evidence on the Great Crash, the Oil Price Shock, and the Unit Root Hypothesis, Eric Zivot and Donald W.K. Andrews

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Voting by Committees, Salvador Barberà, Hugo Sonnenschein, and Lin Zhou

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Tests for Parameter Instability and Structural Change with Unknown Change Point, Donald W.K. Andrews

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An Improved Heteroskedasticity and Autocorrelation Consistent Covariance Matrix Estimator, Donald W.K. Andrews and Christopher J. Monahan

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Financial Integration, Liquidity and Exchange Rates, Vittorio Grilli and Nouriel Roubini

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Generic Uniform Convergence, Donald W.K. Andrews

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A Colored Version of Tverberg's Theorem, Imre Bárány and D. G. Larman

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Aggregation and Imperfect Competition: On the Existence of Equilibrium, Andrew S. Caplin and Barry Nalebuff

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Aggregation and Social Choice: A Mean Voter Theorem, Andrew S. Caplin and Barry Nalebuff

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Growth and Distribution: A Neoclassical Kaldor-Robinson Exercise, James Tobin

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Testing Game-Theoretic Models of Price-Fixing Behaviour, Vassilis A. Hajivassiliou

Submissions from 1989

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On the Theory of Macroeconomic Policy, James Tobin

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Mathematical Programming and Economic Theory, Herbert E. Scarf

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Alternative Approaches to the Political Business Cycle, William D. Nordhaus

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Asymptotic and Finite Sample Distribution Theory for IV Estimators and Tests in Partially Identified Structural Equations, In Choi and Peter C.B. Phillips

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Asymptotics for Linear Processes, Peter C.B. Phillips and Victor Solo

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Estimating Long Run Economic Equilibria, Peter C.B. Phillips and Mico Loretan

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Observability and Optimality, John Geanakoplos and Heracles M. Polemarchakis

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Solving Systems of Simultaneous Equations in Economics, John Geanakoplos and Wayne Shafer

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Testing for a Unit Root in the Presence of Deterministic Trends, Peter C.B. Phillips and Peter Schmidt

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Additive Interactive Regression Models: Circumvention of the Curse of Dimensionality, Donald W.K. Andrews and Yoon-Jae Whang

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Inflationary Expectations and Price Setting Behavior, Ray C. Fair

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Risk Analysis in Economics: An Application to University Finances, William D. Nordhaus

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Full Information Estimation and Stochastic Simulation of Models with Rational Expectations, Ray C. Fair and John B. Taylor

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Warranties, Durability, and Maintenance: Two Sided Moral Hazard in a Continuous-Time Model, Philip H. Dybvig and Nancy A. Lutz

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An Introduction to General Equilibrium with Incomplete Asset Markets, John Geanakoplos

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A Nonparametric Maximum Rank Correlation Estimator, Rosa L. Matzkin

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Existence of Walras Equilibrium without a Price Player of Generalized Game, John Geanakoplos and Pradeep Dubey

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Neighbors of the Origin for Four by Three Matrices, David F. Shallcross

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On Integer Points in Polyhedra: A Lower Bound, Imre Bárány, Roger Howe, and László Lovász

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The Reconciliation of Micro and Macro Economics, Martin Shubik

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An Empirical Process Central Limit Theorem for Dependent Non-Identically Distributed Random Variables, Donald W.K. Andrews

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Asymptotic Optimality of Generalized CL, Cross-Validation, and Generalized Cross-Validation in Regression with Heteroskedastic Errors, Donald W.K. Andrews

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Asymptotics for Semiparametric Econometric Models: I. Estimation, Donald W.K. Andrews

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Asymptotics for Semiparametric Econometric Models: III. Testing and Examples, Donald W.K. Andrews

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Do the Secondary Markets Believe in Life After Debt?, Vassilis A. Hajivassiliou

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Game Theory without Partitions, and Applications to Speculation and Consensus, John Geanakoplos

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Renegotiation and Symmetry in Repeated Games, Dilip Abreu, David G. Pearce, and Ennio Stacchetti

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The Capital Asset Pricing Model as a General Equilibrium with Incomplete Markets, John Geanakoplos and Martin Shubik

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Gold, Liquidity and Secured Loans in a Multi-Stage Economy. Part II. Many Durables, Land and Gold, Martin Shubik and Shuntian Yao

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Market Innovation and Entrepreneurship: A Knightian View, Truman F. Bewley

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Time Series Regression with a Unit Root and Infinite Variance Errors, Peter C.B. Phillips

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Asymptotics for Semiparametric Econometric Models: II. Stochastic Equicontinuity and Nonparametric Kernel Estimation, Donald W.K. Andrews

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Testing for a Unit Root by Generalized Least Squares Methods in the Time and Frequency Domains, In Choi and Peter C.B. Phillips

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The Transactions Cost of Money (A Strategic Game Analysis), Martin Shubik and Shuntian Yao

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Liquidity and Bankruptcy with Incomplete Markets: Pure Exchange, Pradeep Dubey and John Geanakoplos

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The Production Smoothing Model Is Alive and Well, Ray C. Fair

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Repeated Trade and the Velocity of Money, Pradeep Dubey, Siddhartha Sahi, and Martin Shubik

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The Durbin-Watson Ratio under Infinite Variance Errors, Peter C.B. Phillips and Mico Loretan

Submissions from 1988

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Nonparametric Tests of Maximizing Behavior Subject to Nonlinear Sets, Rosa L. Matzkin

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Reflections on Econometric Methodology, Peter C.B. Phillips

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The Interaction of Implicit and Explicit Contracts in Repeated Agenc, David G. Pearce and Ennio Stacchetti

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The Behavior of Home Buyers in Boom and Post-Boom Markets, Robert J. Shiller and Karl E. Case

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The Interaction of Implicit and Explicit Contracts in Repeated Agency, Martin Shubik

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A Little Magic with the Cauchy Distribution, Peter C.B. Phillips

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A New Proof of Knight's Theorem on the Cauchy Distribution, Peter C.B. Phillips

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The Macroeconomics of Government Finance, Michael Haliassos and James Tobin

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Nonparametric and Distribution-Free Estimation of the Binary Choice and the Threshold-Crossing Models, Rosa L. Matzkin

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The Power of Commitment, Chien-fu Chou and John Geanakoplos

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The Shapes of Polyhedra, Ravi Kannan, László Lovász, and Herbert E. Scarf

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Correlated Equilibrium with Generalized Information Structures, Adam Brandenburger, Eddie Dekel, and John Geanakoplos

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Capital Structure and Dividend Irrelevance with Asymmetric Information, Philip H. Dybvig and Jaime F. Zender

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Default and Efficiency in a General Equilibrium Model with Incomplete Markets, Pradeep Dubey, John Geanakoplos, and Martin Shubik

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Estimation and Inference in Models of Cointegration: A Simulation Study, Bruce E. Hansen and Peter C.B. Phillips

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Heteroskedasticity and Autocorrelation Consistent Covariance Matrix Estimation, Donald W.K. Andrews

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Heteroskedasticity and Autocorrelation Consistent Covariance Matrix Estimation, Donald W.K. Andrews

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The Stabilization of the U.S. Economy: Evidence from the Stock Market, Matthew D. Shapiro

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Error Correction and Long Run Equilibrium in Continuous Time, Peter C.B. Phillips

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Spanning, Valuation and Options, Donald J. Brown and Stephen A. Ross

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Spectral Regression for Cointegrated Time Series, Peter C.B. Phillips

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Testing for a Unit Root in the Presence of a Maintained Trend, Sam Ouliaris, Joon Y. Park, and Peter C.B. Phillips

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Asymptotic Normality of Series Estimators for Nonparametric and Semiparametric Regression Models, Donald W.K. Andrews

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Information and Timing in Repeated Partnerships, Dilip Abreu, Paul R. Milgrom, and David G. Pearce

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Sources of Business Cycle Fluctuations, Matthew D. Shapiro and Mark W. Watson

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Gold, Liquidity and Secured Loans in a Multistage Economy. Part I: Gold as Money, Martin Shubik and Shuntian Yao

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Knightian Decision Theory and Econometric Inference, Truman F. Bewley

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Statistical Inference in Instrumental Variables Regression with I(1) Processes, Peter C.B. Phillips and Bruce E. Hansen

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Warranties as Signals under Consumer Moral Hazard, Nancy A. Lutz

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A Centered Projective Algorithm for Linear Programming, Michael J. Todd and Yinyu Ye

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Appropriating the Returns from Industrial R&D, Richard C. Levin, Alvin K. Klevorick, Richard R. Nelson, and Sidney G. Winter

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Common Knowledge of Summary Statistics, Adam Brandenburger and John Geanakoplos

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Distributions, Peter C.B. Phillips

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Generic Inefficiency of Stock Market Equilibrium When Markets Are Incomplete, John Geanakoplos, Michael Magill, Martine Quinzii, and Jacques Dréze

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Increases in Risk Aversion and Portfolio Choice in a Complete Market, Philip H. Dybvig

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Nonnegative Wealth, Absence of Arbitrage, and Feasible Consumption Plans, Philip H. Dybvig and Chi-fu Huang

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Optimal Inference in Cointegrated Systems, Peter C.B. Phillips

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Stock Prices, Earnings and Expected Dividends, John Y. Campbell and Robert J. Shiller

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The Informational Content of Ex Ante Forecasts, Ray C. Fair and Robert J. Shiller

Submissions from 1987

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Renegotiation-Proof Equilibria: Collective Rationality and Intertemporal Cooperation, David G. Pearce

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VAR Models as Structural Approximations, Ray C. Fair

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A Note on an Optimal Garnishing Rule, Martin Shubik and Pradeep Dubey

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Investor Behavior in the October 1987 Stock Market Crash: Survey Evidence, Robert J. Shiller

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Multiple Regression with Integrated Time Series, Peter C.B. Phillips

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Prices of Single Family Homes Since 1970: New Indexes for Four Cities, Karl E. Case and Robert J. Shiller

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Inventories, Investment, Inflation and Taxes, James Tobin

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The Noncooperative Equilibria of a Trading Economy with Complete Markets and Consistent Prices, Siddhartha Sahi and Shuntian Yao

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An Aggregative Disequilibrium Model of the U.S. Labour Market, Vassilis A. Hajivassiliou

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Bimodal t-Ratios, Peter C.B. Phillips and Vassilis A. Hajivassiliou

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Partially Identified Econometric Models, Peter C.B. Phillips

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Testing Strictly Concave Rationality, Rosa L. Matzkin and Marcel K. Richter

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The Term Structure of Interest Rates (with U.S. Government Term Structure Data), Robert J. Shiller and J. Huston McCulloch

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Weak Convergence of Sample Covariance Matrices to Stochastic Integrals via Martingale Approximations, Peter C.B. Phillips

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Asymptotic Properties of Residual Based Tests for Cointegration, Peter C.B. Phillips and Sam Ouliaris

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Effects of the Changing U.S. Age Distribution on Macroeconomic Equations, Ray C. Fair and Kathryn M. Dominguez

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Joint Distribution Theory for Some Statistics Based on LIML and TSLS, Grant H. Hillier

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Silver and Gold and Liquidity, Martin Shubik

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Valuation and Optimality in Exchange Economies with a Countable Number of Agents, Charalambos D. Aliprantis, Donald J. Brown, and Owen Burkinshaw

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Implementational Issues and Computational Performance Solving Applied General Equilibrium Models with SLCP, Thomas Rutherford

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Knightian Decision Theory, Part II: Intertemporal Problems, Truman F. Bewley

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Equilibria in Exchange Economies with a Countable Number of Agents, Charalambos D. Aliprantis, Donald J. Brown, and Owen Burkinshaw

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Distributional Analysis of Portfolio Choice, Philip H. Dybvig

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Econometric Modeling as Information Aggregation, Ray C. Fair and Robert J. Shiller

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Inference in Econometric Models with Structural Change, Donald W.K. Andrews and Ray C. Fair

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Measuring Market Power in U.S. Industry, Matthew D. Shapiro

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Semiparametric Estimation of Monotonic and Concave Utility Functions: The Discrete Choice Case, Rosa L. Matzkin

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The Effect of Economic Events on Votes for President: 1984 Update, Ray C. Fair

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Game Theory. Models of Strategic Behavior and Nuclear Deterrence, Martin Shubik

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Inefficient Dynamic Portfolio Strategies or How to Throw Away a Million Dollars in the Stock Market, Philip H. Dybvig

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Sequential Games of Resource Extraction: Existence of Nash Equilibria, Rabah Amir

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Are Cyclical Fluctuations in Productivity Due More to Supply Shocks or Demand Shocks?, Matthew D. Shapiro

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Spherical Matrix Distributions and Cauchy Quotients, Peter C.B. Phillips

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Supply Shocks in Macroeconomics, Matthew D. Shapiro

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The Future of Social Security: One Economist's Assessment, James Tobin

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Conditional and Unconditional Statistical Independence, Peter C.B. Phillips

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Financial Intermediaries, James Tobin

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Optimal Choice of Monetary Policy Instruments in a Macroeconometric Model, Ray C. Fair

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Sources of Output and Price Variability in a Macroeconometric Model, Ray C. Fair

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Statistical Inference in Regressions with Integrated Processes: Part 2, Joon Y. Park and Peter C.B. Phillips

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Ultimate Sources of Aggregate Variability, Robert J. Shiller

Submissions from 1986

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Statistical Inference in Regressions with Integrated Processes: Part 1, Joon Y. Park and Peter C.B. Phillips

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A Strategic Market Game with Complete Markets, Rabah Amir, Siddhartha Sahi, and Martin Shubik

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Interest Rate and Exchange Rate Determination, Ray C. Fair

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International Evidence on the Demand for Money, Ray C. Fair

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The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors, John Y. Campbell and Robert J. Shiller

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A Game Theoretic Approach to the Theory of Money and Financial Institutions, Martin Shubik

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Forecasting the Depression: Harvard versus Yale, Ray C. Fair, Matthew D. Shapiro, and Kathryn M. Dominguez

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Knightian Decision Theory: Part 1, Truman F. Bewley

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Enough Commodity Money and the Selection of a Unique Competitive Equilibrium, Martin Shubik

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Testing for Cointegration Using Principal Component Methods, Peter C.B. Phillips and Sam Ouliaris

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The Unique Minimal Cash Flow Competitive Equilibrium, Martin Shubik

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Asymptotic Equivalence of OLS and GLS in Regressions with Integrated Regressors, Peter C.B. Phillips and Joon Y. Park

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On the Formulation of Wald Tests of Nonlinear Restrictions, Peter C.B. Phillips and Joon Y. Park

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Limiting Distributions of the Number of Pure Strategy Nash Equilibria in n-Person Games, Imelda Yeung Powers

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Power in Econometric Applications, Donald W.K. Andrews

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Temporal Dependence in Limited Dependent Variable Models: Theoretical and Monte-Carlo Results, Vassilis A. Hajivassiliou

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Quasirents, Influence and Organization Form, Paul R. Milgrom

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Testing for a Unit Root in Time Series Regression, Peter C.B. Phillips and Pierre Perron

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Weak Convergence to the Matrix Stochastic Integral BdB, Peter C.B. Phillips

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Resources, Technology, and Development: Will the Table Be Bare When Poor Countries Get There?, William D. Nordhaus

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Survey Evidence on Diffusion of Interest Among Institutional Investors, Robert J. Shiller and John Pound

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Consistency in Nonlinear Econometric Models: A Generic Uniform Law of Large Numbers, Donald W.K. Andrews

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Defense Economics and Economic Warfare Revisited, J. Hoult Verkerke and Martin Shubik

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Issues Arising in Management and Control of Naval Forces, Paul Bracken and Martin Shubik

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Toward a Theory of Discounted Repeated Games with Imperfect Monitoring, Dilip Abreu, David G. Pearce, and Ennio Stacchetti

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Trends versus Random Walks in Time Series Analysis, Steven N. Durlauf and Peter C.B. Phillips

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Two Misspecification Tests for the Simple Switching Regressions Disequilibrium Model, Vassilis A. Hajivassiliou

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Best Median Unbiased Estimation in Linear Regression with Bounded Asymmetric Loss Functions, Ray C. Fair

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Cointegration and Tests of Present Value Models, John Y. Campbell and Robert J. Shiller

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Edgeworth Equilibria in Production Economies, Charalambos D. Aliprantis, Donald J. Brown, and Owen Burkinshaw

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The Share Economy: A Symposium, William D. Nordhaus and Andrew John

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Towards a Unified Asymptotic Theory for Autoregression, Peter C.B. Phillips

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Towards a Unified Asymptotic Theory for Autoregression, Peter C.B. Phillips

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Regression Theory for Near-Integrated Time Series, Peter C.B. Phillips

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Regression Theory for Near-Integrated Time Series, Peter C.B. Phillips

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The Monetary-Fiscal Mix: Long-Run Implications, James Tobin

Submissions from 1985

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Auction Theory, Paul R. Milgrom

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Comparative Statics and Local Indeterminacy in OLG Economies: An Application of the Multiplicative Ergodic Theorem, John Geanakoplos and Donald J. Brown

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On Finitely Repeated Games and Pseudo-Nash Equilibria, Chien-fu Chou and John Geanakoplos

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The Uses, Value and Limitation of Game Theoretic Methods in Defense Analysis, Martin Shubik

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Walrasian Indeterminacy and Keynesian Macroeconomics, John Geanakoplos and Heracles M. Polemarchakis

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Asymptotic Results for Generalized Wald Tests, Donald W.K. Andrews

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A Theory of Hierarchies Based on Limited Managerial Attention, John Geanakoplos and Paul R. Milgrom

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Forecasting Efficiency: Concepts and Applications, William D. Nordhaus

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Fractional Matrix Calculus and the Distribution of Multivariate Tests, Peter C.B. Phillips

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Multiple Time Series Regression with Integrated Processes, Peter C.B. Phillips and Steven N. Durlauf

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Neoclassical Theory in America: J. B. Clark and Fisher, James Tobin

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Random Cell Chi-Square Diagnostic Tests for Econometric Models: I. Introduction and Applications, Donald W.K. Andrews

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Random Cell Chi-Square Diagnostic Tests for Econometric Models: II. Theory, Donald W.K. Andrews

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The Many Properties of Money: A Strategic Market Game Analysis, Martin Shubik

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The Term Structure of Euromarket Interest Rates: An Empirical Investigation, John Y. Campbell and Richard H. Clarida

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Asymptotic Expansions in Nonstationary Vector Autoregressions, Peter C.B. Phillips

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Existence, Regularity, and Constrained Suboptimality of Competitive Allocations When the Asset Market Is Incomplete, John Geanakoplos and Heracles M. Polemarchakis

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Sections and Extensions of Concave Functions, Roger Howe

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On the Performance of Least Squares in Linear Regression with Undefined Error Means, Donald W.K. Andrews

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A Characterization of Globally Optimal Paths in the Non-Classical Growth Model, Rabah Amir

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Edgeworth Equilibria, Charalambos D. Aliprantis, Donald J. Brown, and Owen Burkinshaw

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Enough Gold in a Society without and with Money-Lenders, Martin Shubik

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Understanding Spurious Regressions in Econometrics, Peter C.B. Phillips