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Now showing items 61-80 of 712
Information Aggregation in Auctions with an Unknown Number of Bidders
(Department of Economics, 2005)
Information aggregation, a key concern for uniform-price, common-value auctions with many bidders, has been characterized in models where bidders know exactly how many rivals they face. A model allowing for uncertainty ...
Monetary Policy, Fiscal Policy, and the Inflation Tax: Equivalence Results
(Department of Economics, 2001)
This paper clarifies and extends previous work on the equivalence between monetary regimes and fiscal regimes involving social security systems. We consider equivalence across regimes, showing that monetary regimes are equivalent to one or both...
Nonlinearity, Nonstationarity, and Thick Tails: How They Interact to Generate Persistency in Memory
(Department of Economics, 2008)
characteristics of the transformed time series, such as jumps in the sample path, excessive volatility, and leptokurtosis, suggest the possibility that these three ingredients are involved in the data generating processes of many actual economic and financial time...
Rational Participation Revolutionizes Auction Theory
(Department of Economics, 2005)
Potential bidders respond to a seller's choice of auction mechanism for a common-value or affiliated-values asset by endogenous decisions whether to incur a participation cost (and observe a private signal), or forego ...
Who is Afraid of the Friedman Rule?
(Department of Economics, 2004)
In this paper, we explore the connection between optimal monetary policy and heterogeneity among agents. We study a standard monetary economy with two types of agents in which the stationary distribution of money holdings is non-degenerate. Sans...
Endogenous Credit Cycles
(Department of Economics, 2010)
We study models of credit with limited commitment, which implies endogenous borrowing constraints. We show that there are multiple stationary equilibria, as well as nonstationary equilibria, including some that display ...
Inflationary Finance in a Simple Voting Model
(Department of Economics, 2001)
This paper is an attempt at answering the somewhat counterfactual question: if monetary policy was to be decided in the arena of public voting (that is not by independent central banks), then what kind of monetary policies (specifically, inflation...
Noninformative Priors and Frequentist Risks of Bayesian Estimators of Vector-Autoregressive Models
(Department of Economics, 2002)
In this study, we examine posterior properties and frequentist risks of Bayesian estimators based on several non-informative priors in Vector Autoregressive (VAR) models. We prove existence of the posterior distributions ...
Access Price and Vertical Control Policies for a Vertically Integrated Upstream Monopolist when Sabotage is Costly
(Department of Economics, 2009)
Input price and novel vertical control regulations are derived for a vertically integrated upstream monopolist when the monopolist can engage in non-price discrimination against a downstream rival. The paper extends the literature on sabotage...
Price Uncertainty and Consumer Welfare in an Intertemporal Setting
(Department of Economics, 2000)
In this paper we examine how increases in intertemporal price uncertainty affect the welfare of a consumer. In the preference structure of the consumer the coefficient of relative risk aversion and the elasticity of intertemporal substitution (EIS...
New Estimates of Public Employment and Training Program Net Impacts: A Nonexperimental Evaluation of the Workforce Investment Act Program
(Department of Economics, 2009)
This paper presents nonexperimental net impact estimates for the Adult and Dislocated Worker programs under the Workforce Investment Act (WIA), the primary federal job training program in the U.S. The key measure of interest is the difference...
A Measure of Media Bias
(Department of Economics, 2005)
In this paper we estimate ADA (Americans for Democratic Action) scores for major media outlets such as the New York Times, USA Today, Fox News' Special Report, and all three network television news shows. Our estimates allow us to answer...
Population Movements in the Presence of Agglomeration and Congestion Effects: Local Policy and the Social Optimum
(Department of Economics, 2009)
We investigate the efficiency properties of population mobility when localities compete in an environment with local amenities and local externalities. Our model is dynamic, incorporating land and labor markets in a context ...
Neckties in the Tropics: A Model of International Trade and Cultural Diversity
(Department of Economics, 2005)
Some cultural goods, like clothes and films, are consumed socially and are thus characterized by the same consumption network externalities as languages. At the same time, producers of new cultural goods in any one country ...
Comparison of agroforestry species for woody biomass production
(2011)
The use of woody biomass is increasing in North America as the economics of fossil fuels change and concerns about climate change grow. Salix spp. and Populus spp. have been considered to be best for biomass production in temperate regions because...
Some Observations on the German Press
(University of Missouri, 1932)
Adjustable speed drive bearing fault detection via support vector machine incorporating feature selection using genetic algorithm
(University of Missouri--Columbia, 2007)
This dissertation presents a novel method to detect bearing defects in Adjustable Speed Drives (ASD's), which are increasingly used in many commercial and industrial applications. The harmonics in pulse-width-modulation ...
Determinants of Beef and Pork Brand Equity
(2003-11)
A set of consumer-level characteristic demand models were estimated to determine the level of brand equity for pork and beef meat cuts. Results indicate that brand premiums and discounts vary by private, national, and store ...
A Nonlinear IV Likelihood-Based Rank Test for Multivariate Time Series and Long Panels
(Berkeley Electronic Press, 2010)
A test for the rank of a vector error correction model (VECM) or panel VECM based on the well-known trace test is proposed. The proposed test employs instrumental variables (IV's)generated by a class of nonlinear functions ...
Commercial horticulture : turf weed control (2003)
(University of Missouri--Columbia. Extension Division, 2003)