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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...
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...
Understanding the Roles of Money, or When is the Friedman Rule Optimal, and Why?
(Department of Economics, 2002)
In this paper, we study the optimal steady state monetary policy in overlapping generations (OG) models. In contrast to economies populated by infinitely-lived representative agents (ILRA), the Friedman Rule is frequently not the policy...
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...
Price Experimentation with Strategic Buyers
(Department of Economics, 2006)
A two-period model in which a monopolist endeavors to learn about the permanent demand parameter of a specific repeat buyer is presented. The buyer may strategically reject the seller's first-period offer for one of two ...
Welfare to Temporary Work: Implications for Labor Market Outcomes
(Department of Economics, 2003)
. Although welfare recipients who go to work for temporary help service firms have lower initial wages than those with jobs in other sectors, they experience faster subsequent wage growth. Two years later, they are no less likely to be employed, their wages...
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 ...
Why Are Firms Sometimes Unwilling to Reduce Costs?
(Department of Economics, 2007)
This paper establishes three new results for multiproduct oligopolies: 1) it presents the first explicit expression of Nash equilibria for asymmetric multiproduct oligopolies; 2) it shows that reducing a multiproduct firm's cost in Bertrand...
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 ...
Inequality, Nonhomothetic Preferences, And Trade: A Gravity Approach
(Department of Economics, 2006)
We construct the first direct classification of goods as luxuries or necessities that is compatible with international trade data. We then use it to test an idea that has not been tested directly in the literature: countries' ...
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 ...
The Role of Industry and Occupation in U.S. Unemployment Differentials by Gender, Race and Ethnicity: Recent Trends
(Department of Economics, 2010)
We examine how gender, racial, and ethnic variation in unemployment and Unemployment Insurance (UI) receipt changed over time in the U.S. economy and how these changes are influenced by shifts in the occupational and ...
Recent Changes In The Characteristics Of Unemployed Workers
(Department of Economics, 2009)
We examine how gender, racial, and ethnic variation in unemployment and Unemployment Insurance (UI) receipt changed over time in the U.S. economy and how these changes are influenced by shifts in the occupational and ...
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 ...
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 ...
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...
Some Observations on the German Press
(University of Missouri, 1932)
Sustainable economic growth in Iraq : role of industrialization, deforestation, trade, employment, technology, and agriculture
(University of Missouri, College of Agriculture, Food and Natural Resources, 2023)
In the present study, the sustainable economic growth of Iraq is evaluated by analyzing six key explanatory variables, namely industrialization, deforestation, trade, employment, and agricultural expansion, which is measured by arable land...
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...
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 ...