2005

最新文章

• A spatial theory of trade AI翻译
  作者：Rossi-Hansberg, E
  作者单位：Princeton University; Princeton University
  摘要：The equilibrium relationship between trade and the spatial distribution of economic activity is fundamental to the analysis of national and regional trade patterns, as well as to the effect of trade frictions. We study this relationship using a trade model with a continuum of regions, transport costs, and agglomeration effects caused by production externalities. We analyze the equilibrium specialization and trade patterns for different levels of transport costs and externality parameters. Unde...
• Grants versus loans for development banks AI翻译
  作者：Bulow, J; Rogoff, K
  作者单位：Stanford University; Harvard University
• Fear and greed in financial markets: A clinical study of day-traders AI翻译
  作者：Lo, AW; Repin, DV; Steenbarger, BN
  作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); State University of New York (SUNY) System; SUNY Upstate Medical University
• George P. Shultz Distinguished fellow - 2004 AI翻译
  作者：[Anonymous]
• William Allen Brock - Distinguished fellow - 2004 AI翻译
  作者：[Anonymous]
• Optimal search profiling with linear deterrence AI翻译
  作者：Manski, CF
  作者单位：Northwestern University; Northwestern University
• Extracting inflation from stock returns to test purchasing power parity AI翻译
  作者：Chowdhry, B; Roll, R; Xia, YH
  作者单位：University of California System; University of California Los Angeles
  摘要：Relative purchasing power parity (PPP) holds for pure price inflations, which affect prices of all goods and services by the same proportion, while leaving relative prices unchanged. Pure price inflations also affect nominal returns of all traded financial assets by exactly the same amount. Recognizing that relative PPP may not hold for the official inflation data constructed from commodity price indices because of relative price changes and other frictions that cause prices to be sticky, we ...
• Annuities and individual welfare AI翻译
  作者：Davidoff, T; Brown, JR; Diamond, PA
  作者单位：University of California System; University of California Berkeley; University of Illinois System; University of Illinois Urbana-Champaign; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
  摘要：Advancing annuity demand theory, we present sufficient conditions for the optimality of full annuitization under market completeness which are substantially less restrictive than those used by Menahem E. Yaari (1965). We examine demand with market incompleteness, finding that positive annuitization remains optimal widely, but complete annuitization does not. How uninsured medical expenses affect demand for illiquid annuities depends critically on the timing of the risk. A new set of calculatio...
• Bidding with securities: Auctions and security design AI翻译
  作者：DeMarzo, PM; Kremer, I; Skrzypacz, A
  作者单位：Stanford University
  摘要：We study security-bid auctions in which bidders compete for an asset by bidding with securities whose payments are contingent on the asset's realized value. In formal security-bid auctions, the seller restricts the security design to an ordered set and uses a standard auction format (e.g., first- or second-price). In informal settings, bidders offer arbitrary securities and the seller chooses the most attractive bid, based on his belie, ex post. We characterize equilibrium and show that steepe...
• Explaining the short careers of high-achieving teachers in schools with low-performing students AI翻译
  作者：Boyd, D; Lankford, H; Loeb, S; Wyckoff, J
  作者单位：State University of New York (SUNY) System; University at Albany, SUNY; Stanford University