作者：Merrigan, P; Normandin, M
摘要：This paper gauges the strength of precautionary saving motives by estimating the coefficient of prudence from the UK Family Expenditure Survey data set (a time series of cross-sections). The instrumental variables estimates reveal that greater uncertainty systematically leads to larger current saving. Most of these impacts are large enough to be statistically consistent with widely accepted beliefs about attitudes towards risk, so that precautionary saving behaviour cannot be refuted. Moreover...
作者：Redding, S
摘要：This paper investigates the relationship between investments in human capital and R & D in a model of endogenous growth. Both forms of investment exhibit pecuniary externalities and are, as a result, strategic complements. Multiple equilibria may occur for intermediate parameter values, and the present analysis may be seen as providing a theoretical rationalisation for the idea that an economy may become trapped in a 'low-skills' equilibrium, characterised by a poorly trained workforce and low...
作者：Muller, WG; deLeon, ACMP
作者单位：University of London; London School Economics & Political Science
摘要：This paper deals with the application of optimal design theory in a typical experiment in economics. It describes general principles for conducting efficient experiments for model discrimination and illustrates the benefits of the techniques by an empirical comparison.
