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Working Papers


 543  Yingyao Hu and Matthew Shum, "Nonparametric Identification of Dynamic Models with Unobserved State Variables", Apr. 2008 [PDF Version][abstract]
 542  Christopher D. Carroll, Jiri Slacalek and Martin Sommer, "International Evidence On Sticky Consumption Growth", Mar. 2008 [PDF Version][abstract]
 541  Yingyao Hu and Matthew Shum, "Estimating First-Price Auctions with an Unknown Number of Bidders: A Misclassification Approach", Dec. 2007 [PDF Version][abstract]
 540  Yingyao Hu and Arthur Lewbel, "Identifying the Returns to Lying When the Truth is Unobserved", Apr. 2007; Revised Nov. 2007 [PDF Version][abstract]
 539  Robert Moffitt, "Estimating Marginal Treatment Effects in Heterogeneous Populations", Dec, 2006; Revised, Oct., 2007 [PDF Version][abstract]
 538  Robert M. de Jong and Tiemen Woutersen, "Dynamic time series binary choice", May 2007. [PDF Version][abstract]
 537  Jiawei Chen, Ulrich Doraszelski and Joseph E. Harrington, Jr., "Avoiding Market Dominance: Product Compatibility in Markets with Network Effects", February 2007. [PDF Version][abstract]
 536  Emmanuel De Veirman, "Which Nonlinearity in the Phillips Curve? The Absence of Accelerating Deflation in Japan", January 2007. [PDF Version][abstract]
 535  Christopher D. Carroll, Misuzu Otsuka and Jirka Slacalek, "How Large Is the Housing Wealth Effect? A New Approach", October 2006. [PDF Version][abstract]
 534  Robert Moffitt, "Welfare Work Requirements with Paternalistic Government Preferences", Economic Journal, November 2006[abstract]
 533  Christopher S. Ruebeck,Joseph E. Harrington, Jr. and Robert Moffitt, "Handedness and Earnings", Laterality, 12(2), 2007 [abstract]
 532  Joseph E. Harrington, Jr, "Modelling the Birth and Death of Cartels with an Application to Evaluating Antitrust Policy", June 2006. [PDF Version][abstract]
 531  Joseph E. Harrington, Jr., "How Do Cartels Operate?", March 2006. [PDF Version][abstract]
 530  Christopher D. Carroll and Miles S. Kimball, "Precautionary Saving and Precautionary Wealth", January 2006. [PDF Version][abstract]
 529  Joseph E. Harrington, Jr and Myong-Hun Chang, "Innovators, Imitators, and the Evolving Architecture of Social Networks", September 2005. [PDF Version][abstract]
 528  Joseph E. Harrington, Jr and Joe Chen, "The Impact of the Corporate Leniency Program on Cartel Formation and the Cartel Price Path", April 2005. [PDF Version][abstract]
 527  Joseph E. Harrington, Jr., "Optimal Corporate Leniency Programs", October 2004, revised July 2005. [PDF Version][abstract]
 526  Joseph E. Harrington, Jr., "Detecting Cartels", November 2004, revised July 2005. [PDF Version][abstract]
 525  Tiemen Woutersen, "Estimating a Semi-Parametric Duration Model without Specifying Heterogeneity" (with Jerry A. Hausman), August 2005. [PDF Version][abstract]
 524  Edi Karni, "Foundations of Bayesian Theory" , August 2005. [PDF Version][abstract]
 523  Edi Karni, "Subjective Expected Utility Theory without States of the World" , August 2005. [PDF Version][abstract]
 522  Thomas Lubik, "Do World Shocks Drive Domestic Business Cycles? Some Evidence from Structural Estimation" (with Wing Teo) ", July 2005. [PDF Version][abstract]
 521  Thomas Lubik, "A Bayesian Look at New Open Economy Macroeconomics" (with Frank Schorfheide), May 2005. [PDF Version][abstract]
 520  Christopher Carroll, "The Method of Endogenous Gridpoints for Solving Dynamic Stochastic Optimization Problems", May 2005. [PDF Version][abstract]
 519  Edi Karni, "A New Approach to Modeling Decision-Making under Uncertainty and Defining Subjective Probabilities", April 2005. [PDF Version][abstract]
 518  Thomas Lubik and Michael Krause, "A Note on Instability and Indeterminacy in Search and Matching Models", November 2004. [PDF Version][abstract]
 517  Christopher D. Carroll, "Theoretical Foundations of Buffer Stock Saving", October 2004. [PDF Version][abstract]
 516  Ryoji Hiraguchi, "Some Foundations for Multiplicative Habits Models", September 2004. [PDF Version][abstract]
 515  Myong-Hun Chang and Joseph E. Harrington, Jr., "Agent-Based Models of Organizations", September 2004, revised March 2005. [PDF Version]
 514  Joseph E. Harrington, Jr. and Joe Chen, "Cartel Pricing Dynamics with Cost Variability and Endogenous Buyer Detection", April 2002, Revised: September 2004. [PDF Version][abstract]
 513  Thomas Lubik and Michael Krause, "On-the-Job Search and the Cyclical Dynamics of the Labor Market", September 2004. [PDF Version][abstract]
 512  Bartholomew Moore, Louis J. Maccini and Huntley Schaller, "The Interest Rate, Learning, and Inventory Investment", December 2002, Revised: April 2004. [PDF Version][abstract]
 511  Daniel Leigh, "Monetary Policy and the Dangers of Deflation: Lessons from Japan", August 2004. [PDF Version][abstract]
 509  Joseph E. Harrington Jr, and Andrzej Skrzypacz, "Collusion under Monitoring of Sales", March 2005. [PDF Version][abstract]
 506  Marc Hofstetter, "Disinflations in Latin America and the Caribbean: A Free Lunch?", March 2004 [PDF Version][abstract]
 505  Thomas Lubik and Frank Schorfheide, "Do Central Banks Respond to Exchange Rate Movements? A Structural Investigation", November 2003 [PDF Version][abstract]
 504  Thomas Lubik and Michael Krause, "The (Ir)relevance of Real Wage Rigidity in the New Keynesian Model with Search Frictions", November 2003 [PDF Version][abstract]
 503  Matt Shum, S. Esteban and E. Miyagawa, "Nonlinear Pricing with Self-Control Preferences", November 2003. [PDF Version][abstract]
 502  Matt Shum and G. Crawford, "Monopoly Quality Degradation in Cable Television", November 2003. [PDF Version][abstract]
 501  Matt Shum, Phil Haile and Han Hong, "Nonparametric Tests for Common Values in First-Price Auctions", November 2003. [PDF Version][abstract]
 500  Thomas Lubik, Massimiliano Marzo, "An Inventory of Simple Monetary Policy Rules in a New Keynesian Macroeconomic Model", September 2003. [PDF Version][abstract]
 497  Jimmy Chan and Wing Suen, "Media as Watchdogs: The Role of News Media in Electoral Competition", June 2003. [PDF Version][abstract]
 496  Robert Moffitt, "The Role of Non-Financial Factors in Exit and Entry in the TANF Program", American Behavioral Scientist, January 2004.[abstract]
 493  Thomas Lubik, "Industrial Structure and Monetary Policy in a Small Open Economy", January 2003. [PDF Version][abstract]
 492  Edi Karni and Zvi Safra, "Moral Sentiments and Social Choice: Fairness Considerations in University Admissions", January 2003. [PDF Version][abstract]
 491  Laurence Ball, N. Gregory Mankiw and Ricardo Reis, January 2003 "Monetary Policy for Inattentive Economies", January 2003. [PDF Version][abstract]
 490  Thomas Lubik, "Investment Spending, Equilibrium Indeterminacy, and the Interactions of Monetary and Fiscal Policy", January 2003. [PDF Version][abstract]
 489  Myong-Hun Chang and Joseph E. Harrington, Jr. "Discovery and Diffusion of Knowledge in an Endogenous Social Network", December 2002. [PDF Version][abstract]
 488  Joseph E. Harrington, Jr. "Post-Cartel Pricing during Litigation", December 2002, revised June 2003. [PDF Version][abstract]
 487  Joseph E. Harrington, Jr. "Cartel Pricing Dynamics in the Presence of an Antitrust Authority", December 2002, revised May 2003. [PDF Version][abstract]
 486  Robert Moffitt, "The Negative Income Tax and the Evolution of U.S. Welfare Policy", Journal of Economic Perspectives, Summer 2003.
 485  Martin Sommer, "Supply Shocks and the Persistence of Inflation", December 2002. [PDF Version] [abstract]
 484  M. Ali Khan and Yeneng Sun, "Exact Arbitrage and Portfolio Analysis in Large Asset Markets", October 2002. [PDF Version][abstract]
 483  M. Ali Khan and Yeneng Sun, "Exact Arbitrage, Well-Diversified Potfolios and Asset Pricing in Large Markets", October 2002. [PDF Version][abstract]
 482  M. Ali Khan and Yeneng Sun, "Non-Cooperative Games with Many Players", October 2002. [PDF Version]
 481  Laurence Ball, "Short-run Money Demand", August 2002. [PDF Version] [abstract]
 480  Thomas A. Lubik and Frank Schorfheide, "Testing for Indeterminacy: An Application to U.S. Monetary Policy", July 2002. [PDF Version] [abstract]
 479  Jimmy Chan and Erik Eyster, "Admission Impossible? Self Interest and Affrmative Action", July 2002. [PDF Version] [abstract]
 478  Laurence Ball and N. Gregory Mankiw, "Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design", May 2001. [PDF Version] [abstract]
 477  Christopher D. Carroll, "Macroeconomic Expectations of Households and Professional Forecasters*", July 2002. Revised December 2002. [PDF Version] [abstract]
 476  Akinori Tomohara, "Externalities of Non-Cooperative Tax Policy in the Globally Integrated Market", May 2002. [PDF Version] [abstract]
 475  Laurence Ball and N. Gregory Mankiw, "The NAIRU in Theory and Practice", April 2002. [PDF Version]
 474  Peyton Young, "Learning, Hypothesis Testing, and Nash Equilibrium" (with Dean Foster), August 2002. [PDF Version] [abstract]
 473  Marzio Galeotti, Louis J. Maccini and Fabio Schiantarelli, "Inventories, Employment and Hours", January 2002, Revised May 2004. [PDF Version] [abstract]
 472  Robert Tchaidze, "Greenspan and the Greenbook", March 2002. [PDF Version] [abstract]
 469  Jushan Bai and Serena Ng, "A Panic Attack on Unit Roots and Cointegration", December 2001. [PDF Version] [abstract]
 468  Serena Ng, "Can Sticky Prices Account for the Variations and Persistence in Real Exchange Rates?", October 2001. [PDF Version] [abstract]
 467  Jushan Bai and Serena Ng, "A New Look at Panel Testing of Stationarity and the PPP Hypothesis", October 2001. [PDF Version] [abstract]
 466  Serena Ng and Pierre Perron, "PPP May not Hold After all: A Further Investigation", February 2001. [PDF Version] [abstract]
 465  Laurence Ball and Robert R. Tchaidze, "The Fed and the New Economy", December 2001. [PDF Version] [abstract]
 464  Robert Moffitt, "Economic Effects of Means-Tested Transfers in the U.S.", Tax Policy and the Economy, 2002 [abstract]
 463  Robert Moffitt, "The Temporary Assistance for Needy Families Program", In Means-Tested Transfer Programs in the U.S., ed. R. Moffitt, University of Chicago Press and NBER, 2003. [abstract]
 462  Christopher D. Carroll, "The Epidemiology of Macroeconomic Expectations", December 2001. [PDF Version] [abstract]
 461  Han Hong and Matthew Shum, "A Semiparametric Estimator for Dynamic Optimization Models", May 2000, revised November 2001. [PDF Version] [abstract]
 460  Joseph E. Harrington, "Optimal Cartel Pricing in the Presence of an Antitrust Authority", May 2001, revised July 2002. [PDF Version] [abstract]
 459  Han Hong, Bruce Preston and Matthew Shum, "Empirical Likelihood-Based Selection Criteria for Moment Condition Models", November 2001. [PDF Version] [abstract]
 458  Martin Sommer, "Habits, Sentiment and Predicted Income in the Dynamics of Aggregate Consumption", November 2001. [PDF Version] [abstract]
 457  Robert R. Tchaidze, "Estimating Taylor Rules in a Real Time Setting", August 2001. [PDF Version] [abstract]
 456  Thomas A. Lubik and Frank Schorfheide, "Computing Sunspots in Linear Rational Expectations Models", October 2001, revised June 2002. [PDF Version] [abstract]
 455  Christopher D. Carroll and Miles S.Kimball, "Liquidity Constraints and Precautionary Saving", August 2001. [PDF Version] [abstract]
 454  Susanna Esteban and Matthew Shum, "Durable-Goods Oligopoly with Secondary Markets: Theory and an Empirical Application to the Automobile Market", August 2001. [PDF Version] [abstract]
 453  Han Hong and Matthew Shum, "Econometric Models of Asymmetric Ascending Auctions", August 2001. [PDF Version] [abstract]
 450  Laurence Ball and Robert Moffitt, "Productivity Growth and the Phillips Curve", In The Roaring Nineties: Can Full Employment Be Sustained?, eds. A. Krueger and R. Solow, Russell Sage Foundation, 2002
 449  Carl F. Christ, "Sutton on Marshall's Tendencies", June 2001. [PDF Version] Forthcoming in Economics and Philosophy.
 448  Joseph E. Harrington, Jr. and Myong-Hun Chang, "Firm Adaptation, Consumer Sorting, and Market Dominance", June 2001, revised February 2002 (Journal of Economic Dynamics and Control, forthcoming). [PDF Version] [abstract]
 447  Han Hong and Matthew Shum, "Increasing Competition and the Winner's Curse: Evidence from Procurement", April 2001 [PDF Version] [abstract]
 446  Lawrence Huiyan Zhang, "Sacrifice Ratios with Long-Lived Effects", April 2001 [PDF Version] [abstract]
 445  Christopher D. Carroll, "Precautionary Saving and the Marginal Propensity To Consume Out of Permanent Income", March 2001 [PDF Version] [abstract]
 444  Todd W. Allen and Christopher D. Carroll, "Individual Learning About Consumption", March 2001 [PDF Version] [abstract]
 442  Myong-Hun Chang and Joseph E. Harrington, "Organization of Innovation in a Multi-Unit Firm: Coordinating Adaptive Search on Multiple Rugged Landscapes", November 2000 [PDF Version] [abstract]
 441  Jimmy Chan, "On the Non-Existence of Reputation Effects in Two-Person Infinitely-Repeated Games", April 2000 [PDF Version] [abstract]
 440  Jimmy Chan and Erik Eyster, "Does Banning Affirmative Action Harm College Student Quality", December 1999 [PDF Version] [abstract]
 437  H. Peyton Young, "The Diffusion of Innovations in Social Networks", May 2000 [PDF Version] [abstract]
 436  Han Hong and Matthew Shum, "Rates of Information Aggregation in Common Value Auctions", March 2002 [PDF Version], earlier version "Limit Distributions of Equilibrium Bids in Common Value Auctions", October 2000 [PDF Version] [abstract]
 435  Laurence Ball, "Near-Rationality and Inflation in Two Monetary Regimes", October 2000 [PDF Version] [abstract]
 434  Robert A. Moffitt, "Welfare Benefits and Female Headship in U.S. Time Series", In Out-of-Wedlock: Causes and Consequences of Nonmarital Fertility, eds. L. Wu and B. Wolfe. Russell Sage Foundation, 2001. [abstract]
 433  Thomas A. Lubik, "International Comovement Revisited: The Role of Non-Traded Goods and Price Stickiness", March 2000 [abstract]
 431  Aico van Vuuren, Gerard J. van den Berg and Geert Ridder, "Measuring the Equilibrium Effects of Unemployment Benefits Dispersion", June 2000 [abstract]
 430  Christopher D.Carroll, "Portfolios of the Rich", July 2000 [PDF Version] [abstract]
 429  Christopher D.Carroll, "'Risky Habits' and the Marginal Propensity to Consume Out of Permanent Income, or, How Much Would a Permanent Tax Cut Boost Japanese Consumption?", July 2000 [PDF Version] [abstract]
 426  Humphreys, Brad R., Louis J. Maccini, and Scott Schuh, "Input and Output Inventories", January 2000 (revised version of WP 391) [PDF Version] [abstract]
 425  Cockx, Bart and Geert Ridder, "Social Employment Of Welfare Recipients In Belgium: An Evaluation", March 2000. [abstract]
 424  Konig, Pierre, Gerard J. van der Berg and Geert Ridder, "Semi-Nonparametric Estimation of an Equilibrium Search Model", January 2000. [abstract]
 422  Hirano, Keisuke, Cuido W. Imbens and Geert Ridder, "Efficient Estimation of Average Treatment Effects Using the Estimated Propensity Score", February 16, 2000. [abstract]
 421  Carroll, Christopher D., "Solving Consumption Models with Multiplicative Habits", January 18, 2000.[PDF Version] [abstract]
 420  Ebens, Heiko, "Realized Stock Volatility" March 1999, this version July 1999. [PDF Version] [abstract]
 419  Harrington, Joseph E. Jr., "Progressive Ambition, Electoral Selection, and the Creation of Ideologues," Economics of Governance, 1 (2000), 13-23 [abstract]
 418  Chang, Myong-Hun and Joseph E. Harrington Jr., "Decentralized Business Strategies in a Multi-Unit Firm," Annals of Operations Research 109 (2002), 77-98. [abstract]
 417  Harrington, Joseph E. Jr., "A Simple Game-Theoretic Explanation for the Relationship Between Group Size and Helping," Journal of Mathematical Psychology, 45 (2001), 389-392. [abstract]
 416  Carroll, Christopher D., Karen E. Dynan, and Spencer D. Krane, "Unemployment Risk and Precautionary Wealth: Evidence from Households' Balance Sheets," April 1999 [PDF Version] [abstract]
 415  Ridder, Geert and Bart Cockx, "Social Employment of Welfare Recipients in Belgium: An Evaluation", March 1999 [abstract]
 414  Moffitt, Robert A. and Mark Wilhelm, "Taxation and the Labor Supply - Decisions of the Affluent", Does Atlas Shrug? Economic Consequences of Taxing the Rich, ed. J. Slemrod. Russell Sage Foundation and Harvard University Press, 2000 [abstract]
 413  Koning, Ruud H. and Geert Ridder, "Discrete Choice and Stochastic Utility Maximization", March 3, 1999 [abstract]
 412  Bijwaard, Govert and Geert Ridder, "Correcting for Selective Compliance in a Re-Employment Bonus Experiment", November 18, 1998 [abstract]
 411  Chang, Myong-Hun and Joseph E. Harrington Jr., "Organizational Structure and Perpetual Innovation: A Computational Model of a Retail Chain", Management Science, 46 (2000), 1427-1440 [abstract]
 409  Khan, M. Ali, Rabee Tourky, and Rajiv Vohra, "The Supremum Argument in the New Approach to the Existence of Equilibrium in Vector Lattices", August 1998 [abstract]
 406  Fratantoni, Michael C, "Homeownership, Committed Expenditure Risk, and the Stockholding Puzzle", October 22, 1998 [abstract]
 405  Khan, M. Ali and Yeneng Sun, "Assymptotic Arbitrage and Asset Pricing Models on General Index Sets and on the Lebesgue Continuum", August 1998 [abstract]
 404  Khan, M. Ali, "The Murdukovich Normal Cone and the Foundations of Welfare Economics", October 1998 [abstract]
 401  Carroll, Christopher D., Byung-Kun Rhee, and Changyong Rhee, "Does Cultural Origin Affect Saving Behaviour? Evidence From Immigrants", April 1998 [abstract]
 400  Chander, Parkash, "International Treaties on Global Pollution: A Dynamic Time-Path Analysis", March 1998 [abstract]
 399  Chander, Parkash, "A Stronger Measure of Risk Aversion and a General Characterization of Optimal Income Tax Enforcement", January 1998 [abstract]
 398  Harrington, Joseph E., Jr., "The Equilibrium Level of Rigidity in a Hierarchy", Games and Economic Behavior, 28 (1999), 189-202 [abstract]
 397  Harrington, Joseph E., Jr., "Electoral Selection, and the Creation of Ideologues", American Economic Review, 88 (1998), 63-82 [abstract]
 395  Hamilton, Bruce W., "The True Cost of Living: 1974 - 1991", January 1998 [PDF Version] [abstract]
 394  Khan, M. Ali and Yeneng Sun, "Non-Cooperative Games on Hyperfinite Loeb Spaces", January 1998 [abstract]
 393  Khan, M. Ali, Kali P. Rath, and Yeneng Sun, "Pure-Strategy Nash Equilibrium Points in Large Non-Anonymous Games", January 1998 [abstract]
 392  Rauh, Michael T., "A Model of Temporary Search Market Equilibrium", October 1997 [abstract]
 391  Humphreys, Brad R., Louis J. Maccini, and Scott Schuh, "Input and Output Inventories", September 1997 [PDF Version] [abstract]
 390  Carroll, Christopher D., "Death to the Log-Linearized Consumption euler Equation! (And Very Poor Health to the Second-Order Approximation)", September 1997 [PDF Version] [abstract]
 388  Carroll, Christopher D., "Why Do the Rich Save So Much?" July 1997. [PDF Version] [abstract]
 387  Carroll, Christopher D., Jody Overland, and David N. Weil, "Comparison Utility in a Growth Model," June 1997. [abstract]
 386 
Carroll, Christopher D. And Wendy E. Dunn, "Unemployment Expectations, Jumping (S,s) Triggers, and Household Balance Sheets," May 1997. [PDF Version][abstract]
 385 
Rajan, Ashvin V., "A Note on Incomplete Markets," August 1996. [abstract]
 383  Khan, M. Ali and Yeneng Sun, "On the Decomposition and Characterization of Risk With a Continuum of Random Variables," February 1997. [abstract]
 382  Khan, M. Ali and Yeneng Sun, "Non-Cooperative Games with Many Players," September 1996. [abstract]
 381  Khan, M. Ali, Kali P. Rath, and Yeneng Sun, "On the Existence of Pure Strategy Equilibria in Games with a Continuum of Players," January 1994, revised February 1997. [abstract]
 380  Blomberg, S. Brock and Joseph E. Harrington, Jr., "A Theory of Rigid Extremists and Flexible Moderates With An Empirical Application To The U.S. Congress," American Economic Review, 90 (2000), 605-620 [abstract]
 379  Fitzgerald, John, Peter Gottschalk, and Robert Moffitt, "An Analysis of Sample Attrition in Panel Data:  The Michigan Panel Study of income Dynamics," Journal of Human Resources, Spring 1998. [abstract]
 378  Hamilton, Bruce and Peter Kahn, "Baltimore's Camden Yards Ballparks," November 1996. [abstract] [PDF Version]
 377  Khan, M. Ali and Yeneng Sun, "The Capital-Asset-Pricing Model and Arbitrage Pricing Theory:  A Unification," July 1996. [abstract]
 374  Khan, M. Ali and Yeneng Sun, "Non-Atomic Games on Loeb Spaces," April 1996, revised August 1996. [abstract]
 373  Moffitt, Robert, David Ribar, and Mark Wilhelm, "The Decline of Welfare Benefits in the U.S.:  The Role of Wage Inequality," Journal of Public Economics, June 1998. [abstract]
 371  Carroll, Christopher D., "Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis," July 1990, revised August 1996. [abstract]
 367  Rajan, Ashvin V., "A Remark on the Equilibrium Set of Pure Exchange Economies," April 1996. [abstract
 365  Zilcha, Itzhak, "Altruism, Economic Growth and Income Distribution," April 1996. [abstract]
 364  Carrington, William J. and Kenneth R. Troske, "Sex Segregation in U.S. Manufacturing," March 1996. [abstract]
 363  Rajan, Ashvin Varada, "Generic Properties of the Core and Equilibria of Pure Exchange Economies," March 1996. [abstract
 362  Hamilton, Bruce W. and Mary Burke, "The Coase Conjecture in Continuous Time:  Imperfect Durability, Endogenous Durability, and Aftermarkets," March 1996. [abstract] [PDF Version]
 361  Hamilton, Bruce W. and Molly Macauley, "Competition and Car Longevity," March 1996. [abstract]
 360  de Lima, Pedro J.F., "Nonlinearities and Nonstationarities in Stock Returns," January 1996. [postscript] [abstract]