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We prove—in the standard independent private-values model—that the outcome, in terms of expected probabilities of trade and expected transfers, of any Bayesian mechanism, can also be obtained with a d...
This paper examines the relationship between fertility and human capital investment, and it’s implications for economic growth, focusing on the effects of declining mortality. Unlike the exist...
Fiscal and Monetary Stabilization Policies in a Model of Cyclical Growth.
In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new database of models designed for such investigations. We foc...
Recent empirical work has found that firms do more innovation when they are exposed to more low-cost import competition (Bloom, Draca and Van Reenen, 2012). Why is it that they innovate after somethin...
We investigate a puzzling phenomenon in which firms make investment decisions that purposefully do not maximize expected profits. Using an extension to the newsvendor model, we focus on a relatively c...
A model is developed that rationalizes contracts that give depositors the right to obtain funds on demand even when depositors intend to use these funds for consumption in the future. This is explaine...
Of all the OPEC nations, Nigeria competed most directly with the British, as both countries produced oil of similar grade and sold that oil predominantly to the European market+ During the two-year ...
Egypt's Pattern of Trade and Development: A Model of Import Substitution Growth。
In the analysis of bilateral trade flows, reported trade of zero or missing observations are quite common and this is a problem when estimating log-linear gravity equations. This has caused many resea...
In the present work we propose an original analytical model of coopetitive game. We try to apply this analytical model of coopetition - based on game theory and conceived at a macro level - to the G...
Since the return to civil rule in Nigeria in 1999, the country has organised two general elections and numerous re - run elections at different levels.
One of the most popular copulas for modeling dependence structures is t-copula.Recently the grouped t-copula was generalized to allow each group to have one mem-ber only,so that a priori grouping is n...

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