Open Access. Powered by Scholars. Published by Universities.®

Digital Commons Network™

Open Access. Powered by Scholars. Published by Universities.®

Yale University

Discipline
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 10441 - 10470 of 33883

Full-Text Articles in Entire DC Network

Buying Locally, George J. Mailath, Andrew Postlewaite, Larry Samuelson Mar 2015

Buying Locally, George J. Mailath, Andrew Postlewaite, Larry Samuelson

Cowles Foundation Discussion Papers

“Buy local” arrangements encourage members of a community or group to patronize one another rather than the external economy. They range from formal mechanisms such as local currencies to informal “I’ll buy from you if you buy from me” arrangements, and are often championed on social or environmental grounds. We show that in a monopolistically competitive economy, buy local arrangements can have salutary effects even for selfish agents immune to social or environmental considerations. Buy local arrangements effectively allow firms to exploit the equilibrium price-cost gap to profitably expand their sales at the going price.


Learning To Disagree In A Game Of Experimentation, Alessandro Bonatti, Johannes Hörner Mar 2015

Learning To Disagree In A Game Of Experimentation, Alessandro Bonatti, Johannes Hörner

Cowles Foundation Discussion Papers

We analyse strategic experimentation in which information arrives through fully revealing, publicly observable “breakdowns.” With hidden actions, there exists a unique equilibrium that involves randomization over stopping times. This randomization induces belief disagreement on the equilibrium path. When actions are observable, the equilibrium is pure, and welfare improves. We analyse the role of policy interventions such as subsidies for experimentation and risk-sharing agreements. We show that the optimal risk-sharing agreement restores the first-best outcome, independent of the monitoring structure.


The Marriage Market, Labor Supply And Education Choice, Pierre-André Chiappori, Monica Costa Dias, Costas Meghir Mar 2015

The Marriage Market, Labor Supply And Education Choice, Pierre-André Chiappori, Monica Costa Dias, Costas Meghir

Cowles Foundation Discussion Papers

We develop an equilibrium lifecycle model of education, marriage and labor supply and consumption in a transferable utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and the labor market. They then match based on the economic value of marriage and on preferences. Equilibrium in the marriage market determines intrahousehold allocation of resources. Following marriage households (married or single) save, supply labor and consume private and public under uncertainty. Marriage thus has the dual role of providing public goods and offering risk sharing. The model is estimated using the British HPS.


Relational Contracts With Subjective Peer Evaluations, Joyee Deb, Jin Li, Arijit Mukherjee Mar 2015

Relational Contracts With Subjective Peer Evaluations, Joyee Deb, Jin Li, Arijit Mukherjee

Cowles Foundation Discussion Papers

We study optimal contracting in a setting where a firm repeatedly interacts with multiple workers, and can compensate them based on publicly available performance signals as well as privately reported peer evaluations. If the evaluation and the effort provision are done by different workers (as in a supervisor/agent hierarchy), we show that, using both the private and public signals, the first best can be achieved even in a static setting. However, if each worker is required to both exert effort and report on his co-worker’s performance (as in a team setting), the worker’s effort incentives cannot be decoupled from his …


Insurance In Extended Family Networks, Orazio P. Attanasio, Costas Meghir, Corina Mommaerts Mar 2015

Insurance In Extended Family Networks, Orazio P. Attanasio, Costas Meghir, Corina Mommaerts

Cowles Foundation Discussion Papers

We investigate partial insurance and group risk sharing in extended family networks. Our approach is based on decomposing income shocks into group aggregate and idiosyncratic components, allowing us to measure the extent to which each component is insured. We apply our framework to extended family networks in the United States by exploiting the unique intergenerational structure of the Panel Study of Income Dynamics. We find that over 60% of shocks to household income are potentially insurable within extended family networks. However, we find little evidence that the extended family provides insurance for such idiosyncratic shocks.


After The Deal: Fannie, Freddie, And The Financial Crisis Aftermath, Steven Davidoff Solomon, David Zaring Mar 2015

After The Deal: Fannie, Freddie, And The Financial Crisis Aftermath, Steven Davidoff Solomon, David Zaring

Documents

This law review article is published in the Berkeley Law Scholarship Repository. To view this article in its entirety please see the related resources section above. Recommended Citation: Steven Davidoff Solomon, After the Deal: Fannie, Freddie, and the Financial Crisis Aftermath, 95 B.U. L. Rev. 371 (2015)


The Rescue Of Fannie Mae And Freddie Mac, W. Scott Frame, Andreas Fuster, Joseph Tracy, James Vickery Mar 2015

The Rescue Of Fannie Mae And Freddie Mac, W. Scott Frame, Andreas Fuster, Joseph Tracy, James Vickery

Documents

Staff Report including the following:- Describes and evaluates the measures taken by the U.S. government to rescue Fannie Mae and Freddie Mac in September 2008. - Outlines the business model of these two firms and their role in the U.S. housing finance system. - The sources of financial distress that the firms experienced and the events that ultimately led the government to take action. - Describes the various resolution options available to policymakers. - Evaluates the success of the choice of conservatorship and other actions taken.


Report Of The Bank Of Slovenia On The Causes Of The Capital Shortfalls Of Banks And The Role Of The Bank Of Slovenia As The Banking Regulator In Relation Thereto, The Recovery Of Banks In 2013 And 2014 [...], Banka Slovenjie/Central Bank Of Slovenije Mar 2015

Report Of The Bank Of Slovenia On The Causes Of The Capital Shortfalls Of Banks And The Role Of The Bank Of Slovenia As The Banking Regulator In Relation Thereto, The Recovery Of Banks In 2013 And 2014 [...], Banka Slovenjie/Central Bank Of Slovenije

Documents

No abstract provided.


Afterword To The Aig Bailout, William K. Sjostrum Jr. Mar 2015

Afterword To The Aig Bailout, William K. Sjostrum Jr.

Documents

No abstract provided.


Media Coverage And The Stock Market Valuation Of Tarp Participating Banks, Tee Yong Jeffrey Ng, Florin P. Vasvari, Regina Wittenberg-Moerman Mar 2015

Media Coverage And The Stock Market Valuation Of Tarp Participating Banks, Tee Yong Jeffrey Ng, Florin P. Vasvari, Regina Wittenberg-Moerman

Documents

No abstract provided.


Internationalization Of The Renminbi, Ming Zhang Mar 2015

Internationalization Of The Renminbi, Ming Zhang

Documents

No abstract provided.


The Effort To Stabilise The Financial System In Japan: An Outline And The Characteristics Of The Programme For Financial Revival, Yoichi Matsubayashi Mar 2015

The Effort To Stabilise The Financial System In Japan: An Outline And The Characteristics Of The Programme For Financial Revival, Yoichi Matsubayashi

Documents

No abstract provided.


The Failure Of Supervisory Stress Testing: Fannie Mae, Freddie Mac, And Ofheo, W. Scott Frame, Kristopher S. Gerardi, Paul Willen Mar 2015

The Failure Of Supervisory Stress Testing: Fannie Mae, Freddie Mac, And Ofheo, W. Scott Frame, Kristopher S. Gerardi, Paul Willen

Documents

No abstract provided.


Mitteilung Über Das Mandat, Republic Of Austria: Financial Market Authority Mar 2015

Mitteilung Über Das Mandat, Republic Of Austria: Financial Market Authority

Documents

No abstract provided.


Austria Halts Payments On Hypo Alpe-Adria Debts, Nicole Lundeen, Gabriele Steinhauser Mar 2015

Austria Halts Payments On Hypo Alpe-Adria Debts, Nicole Lundeen, Gabriele Steinhauser

Documents

No abstract provided.


The Implementation Duality, Georg Nöldeke, Larry Samuelson Mar 2015

The Implementation Duality, Georg Nöldeke, Larry Samuelson

Cowles Foundation Discussion Papers

Conjugate duality relationships are pervasive in matching and implementation problems and provide much of the structure essential for characterizing stable matches and implementable allocations in models with quasilinear (or transferable) utility. In the absence of quasilinearity, a more abstract duality relationship, known as a Galois connection, takes the role of (generalized) conjugate duality. While much weaker, this duality relationship still induces substantial structure. We show that this structure can be used to extend existing results for, and gain new insights into, adverse-selection principal-agent problems and two-sided matching problems without quasilinearity.


Resolution Authority Orders Resolution Measures Pursuant To The Austrian Banking Restructuring And Resolution Act (Basag), Heta Asset Resolution Mar 2015

Resolution Authority Orders Resolution Measures Pursuant To The Austrian Banking Restructuring And Resolution Act (Basag), Heta Asset Resolution

Documents

No abstract provided.


Update 2-Austria Imposes Debt Moratorium On Heta "Bad Bank", Reuters Staff Mar 2015

Update 2-Austria Imposes Debt Moratorium On Heta "Bad Bank", Reuters Staff

Documents

No abstract provided.


The Implementation Duality, Georg Nöldeke, Larry Samuelson Mar 2015

The Implementation Duality, Georg Nöldeke, Larry Samuelson

Cowles Foundation Discussion Papers

Conjugate duality relationships are pervasive in matching and implementation problems and provide much of the structure essential for characterizing stable matches and implementable allocations in models with quasilinear (or transferable) utility. In the absence of quasilinearity, a more abstract duality relationship, known as a Galois connection, takes the role of (generalized) conjugate duality. While weaker, this duality relationship still induces substantial structure. We show that this structure can be used to extend existing results for, and gain new insights into, adverse-selection principal-agent problems and two-sided matching problems without quasilinearity.


Yale Scientific Magazine: Volume 88, Number 2 Mar 2015

Yale Scientific Magazine: Volume 88, Number 2

Yale Scientific Magazine

No abstract provided.


The Implementation Duality, Georg Nöldeke, Larry Samuelson Mar 2015

The Implementation Duality, Georg Nöldeke, Larry Samuelson

Cowles Foundation Discussion Papers

We use the theory of abstract convexity to study adverse-selection principal-agent problems and two-sided matching problems, departing from much of the literature by not requiring quasilinear utility. We formulate and characterize a basic underlying implementation duality. We show how this duality can be used to obtain a sharpening of the taxation principle, to obtain a general existence result for solutions to the principal-agent problem, to show that (just as in the quasilinear case) all increasing decision functions are implementable under a single crossing condition, and to obtain an existence result for stable outcomes featuring positive assortative matching in a matching …


The Marriage Market, Labor Supply And Education Choice, Pierre-André Chiappori, Monica Costa Dias, Costas Meghir Mar 2015

The Marriage Market, Labor Supply And Education Choice, Pierre-André Chiappori, Monica Costa Dias, Costas Meghir

Cowles Foundation Discussion Papers

We develop an equilibrium life cycle model of education, marriage and labor supply and consumption in a transferable utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and the labor market. They then match based on the economic value of marriage and on preferences. Equilibrium in the marriage market determines intrahousehold allocation of resources. Following marriage households (married or single) save, supply labor and consume private and public commodities under uncertainty. Marriage thus has the dual role of providing public goods and offering risk sharing. The model is estimated using the British HPS.


Insurance In Extended Family Networks, Orazio P. Attanasio, Costas Meghir, Corina Mommaerts Mar 2015

Insurance In Extended Family Networks, Orazio P. Attanasio, Costas Meghir, Corina Mommaerts

Cowles Foundation Discussion Papers

We investigate partial insurance and group risk sharing in extended family networks. Our approach is based on decomposing income shocks into group aggregate and idiosyncratic components, allowing us to measure the extent to which each is insured, having accounted for public insurance programs. We apply our framework to extended family networks in the United States by exploiting the unique intergenerational structure of the PSID. We find that over 60% of shocks to household income are potentially insurable within family networks. However, we find little evidence that the extended family provides insurance for such idiosyncratic shocks.


Jsc Reverta: Unaudited Condensed Financial Report For The Year Ended 31 December 2014, Reverta Feb 2015

Jsc Reverta: Unaudited Condensed Financial Report For The Year Ended 31 December 2014, Reverta

Documents

No abstract provided.


Decision 2015/300 Of The European Central Bank Of 10 February 2015 On The Eligibility Of Marketable Debt Instruments Issued Or Fully Guaranteed By The Hellenic Republic, European Central Bank (Ecb) Feb 2015

Decision 2015/300 Of The European Central Bank Of 10 February 2015 On The Eligibility Of Marketable Debt Instruments Issued Or Fully Guaranteed By The Hellenic Republic, European Central Bank (Ecb)

Documents

No abstract provided.


Bundesgesetzblatt Nr. 34/2015, Republic Of Austria: Parliament Of Austria Feb 2015

Bundesgesetzblatt Nr. 34/2015, Republic Of Austria: Parliament Of Austria

Documents

No abstract provided.


Account Of The Monetary Policy Meeting, European Central Bank (Ecb) Feb 2015

Account Of The Monetary Policy Meeting, European Central Bank (Ecb)

Documents

Account of the Monetary Policy meeting of the Governing Council of the European Central Bank. Hel


Account Of The Monetary Policy Meeting Of January 2015, European Central Bank (Ecb), Mario Draghi Feb 2015

Account Of The Monetary Policy Meeting Of January 2015, European Central Bank (Ecb), Mario Draghi

Documents

No abstract provided.


Tarp Investment Program Transaction Reports, United States: Department Of The Treasury Feb 2015

Tarp Investment Program Transaction Reports, United States: Department Of The Treasury

Documents

No abstract provided.


Investigating The "Small World" Of Literary Archival Collections: The Impact Of Eac-Cpf On Archival Descriptive Practices – Part 1: Relationships, Description And The Archival Community, Katherine M. Wisser Feb 2015

Investigating The "Small World" Of Literary Archival Collections: The Impact Of Eac-Cpf On Archival Descriptive Practices – Part 1: Relationships, Description And The Archival Community, Katherine M. Wisser

Journal of Contemporary Archival Studies

This article opens an exploration of the description of relationships between entities made possible by the new standard, Encoded Archival Context - Corporate bodies, Persons and Families (EAC-CPF). Presents the results of a survey conducted in 2013 to gauge the archival descriptive community's perceptions of the significance of contextual information, relationship types, and other aspects of relationship description. Survey results indicate that the archival descriptive community has just begun to think about relationships in a formal way.