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On The Empirical Content Of Quantal Response Equilibrium, Philip A. Haile, Ali Hortaçsu, Grigory Kosenok Aug 2003

On The Empirical Content Of Quantal Response Equilibrium, Philip A. Haile, Ali Hortaçsu, Grigory Kosenok

Cowles Foundation Discussion Papers

The quantal response equilibrium (QRE) notion of McKelvey and Palfrey (1995) has recently attracted considerable attention, due in part to its widely documented ability to rationalize observed behavior in games played by experimental subjects. However, even with strong a priori restrictions on unobservables, QRE imposes no falsifiable restrictions: it can rationalize any distribution of behavior in any normal form game. After demonstrating this, we discuss several approaches to testing QRE under additional maintained assumptions.


Frbny Letter From Frank P Sabato To Michelle Sims Re Report Conducted By Examinere For The Federal Reserve Bank Of New York, Homer Hill Iii, Frank P. Sabato Jul 2003

Frbny Letter From Frank P Sabato To Michelle Sims Re Report Conducted By Examinere For The Federal Reserve Bank Of New York, Homer Hill Iii, Frank P. Sabato

Documents

No abstract provided.


Citigroup Written Agreement Between Citigroup And The Federal Reserve Bank Of New York, Michael S. Helfer, William Rutledge Jul 2003

Citigroup Written Agreement Between Citigroup And The Federal Reserve Bank Of New York, Michael S. Helfer, William Rutledge

Documents

No abstract provided.


Formal Agreement Between Citibank And The Office Of The Comptroller Of The Currency, Alan Macdonald, Marjorie Magner, Michael Masin, Deryck Maughan, William Rhodes, Onno Ruding, Petros Sabatacakis, Todd Thomson, Robert B. Willumstad, Doug Roeder Jul 2003

Formal Agreement Between Citibank And The Office Of The Comptroller Of The Currency, Alan Macdonald, Marjorie Magner, Michael Masin, Deryck Maughan, William Rhodes, Onno Ruding, Petros Sabatacakis, Todd Thomson, Robert B. Willumstad, Doug Roeder

Documents

No abstract provided.


Interagency Advisory On The Use Of The Federal Reserve's Primary Credit Program In Effective Liquidity Management, Federal Reserve System: Board Of Governors Jul 2003

Interagency Advisory On The Use Of The Federal Reserve's Primary Credit Program In Effective Liquidity Management, Federal Reserve System: Board Of Governors

Documents

To the Officer in Charge of Supervision and Appropriate Supervisory and Examination Staff at Each Federal Reserve Bank and to Domestic and Foreign Banking Organizations Supervised by the Federal Reserve


Agencies Issue Guidance On Appropriate Use Of Discount Window, Federal Reserve System: Board Of Governors Jul 2003

Agencies Issue Guidance On Appropriate Use Of Discount Window, Federal Reserve System: Board Of Governors

Documents

No abstract provided.


Testimony Of Dr. Susan M. Wachter Before The Subcommittee Of Capital Markets, Insurance, And Government Sponsored Enterprises, Dr. Susan M. Wachter Jul 2003

Testimony Of Dr. Susan M. Wachter Before The Subcommittee Of Capital Markets, Insurance, And Government Sponsored Enterprises, Dr. Susan M. Wachter

Documents

No abstract provided.


Valery Kargin, Viktor Krasovitsky, Bloomberg News Jul 2003

Valery Kargin, Viktor Krasovitsky, Bloomberg News

Documents

No abstract provided.


Young Conservationists And The Future Of Protected Areas Worldwide, Lisbet Kugler Jul 2003

Young Conservationists And The Future Of Protected Areas Worldwide, Lisbet Kugler

Yale School of the Environment Publications Series

A Call to Discussion at the Fifth World Parks Congress,Durban, South Africa, September 2003


A Note On The Equilibrium Properties Of Locational Sorting Models, Patrick Bayer, Christopher Timmins Jul 2003

A Note On The Equilibrium Properties Of Locational Sorting Models, Patrick Bayer, Christopher Timmins

Discussion Papers

No abstract provided.


Could Higher Taxes Increase The Long-Run Demand For Capital?: Theory And Evidence For Chile, Álvaro Bustos, Eduardo Engel, Alexander Galetovic Jul 2003

Could Higher Taxes Increase The Long-Run Demand For Capital?: Theory And Evidence For Chile, Álvaro Bustos, Eduardo Engel, Alexander Galetovic

Discussion Papers

No abstract provided.


What Drives Racibring Some Thing Simple Then You Will Eaal Segregation? New Evidence Using Census Microdata, Patrick Bayer, Robert Mcmillan, Kim Rueben Jul 2003

What Drives Racibring Some Thing Simple Then You Will Eaal Segregation? New Evidence Using Census Microdata, Patrick Bayer, Robert Mcmillan, Kim Rueben

Discussion Papers

No abstract provided.


Estimating Equilibrium Models Of Sorting Across Locations, Patrick Bayer, Christopher Timmins Jul 2003

Estimating Equilibrium Models Of Sorting Across Locations, Patrick Bayer, Christopher Timmins

Discussion Papers

No abstract provided.


The Effectiveness Of Juvenile Correctional Facilities: Public Versus Private Management, Patrick Bayer, David E. Pozen Jul 2003

The Effectiveness Of Juvenile Correctional Facilities: Public Versus Private Management, Patrick Bayer, David E. Pozen

Discussion Papers

No abstract provided.


An Equilibrium Model Of Sorting In An Urban Housing Market: The Causes And Consequences Of Residential Segregation, Patrick Bayer, Robert Mcmillan, Kim Rueben Jul 2003

An Equilibrium Model Of Sorting In An Urban Housing Market: The Causes And Consequences Of Residential Segregation, Patrick Bayer, Robert Mcmillan, Kim Rueben

Discussion Papers

No abstract provided.


Privatizing Highways In Latin America: Is It Possible To Fix What Went Wrong?, Eduardo Engel, Ronald Fischer, Alexander Galetovic Jul 2003

Privatizing Highways In Latin America: Is It Possible To Fix What Went Wrong?, Eduardo Engel, Ronald Fischer, Alexander Galetovic

Discussion Papers

No abstract provided.


Adjustment Is Much Slower Than You Think, Ricardo J. Caballero, Eduardo M.R.A. Engel Jul 2003

Adjustment Is Much Slower Than You Think, Ricardo J. Caballero, Eduardo M.R.A. Engel

Discussion Papers

No abstract provided.


Fertility, Child Work And Schooling Consequences Of Family Planning Programs: Evidence From An Experiment In Rural Bangladesh, Nistha Sinha Jul 2003

Fertility, Child Work And Schooling Consequences Of Family Planning Programs: Evidence From An Experiment In Rural Bangladesh, Nistha Sinha

Discussion Papers

No abstract provided.


Building Criminal Capital Behind Bars: Social Learning In Juvenile Corrections, Patrick Bayer, Randi Pintoff, David E. Pozen Jul 2003

Building Criminal Capital Behind Bars: Social Learning In Juvenile Corrections, Patrick Bayer, Randi Pintoff, David E. Pozen

Discussion Papers

No abstract provided.


Patterns Of Efavirenz Use Among Hiv-Positive Women In Urban Hiv And High-Risk Obstetrics Clinics, Matthew Kronman Jul 2003

Patterns Of Efavirenz Use Among Hiv-Positive Women In Urban Hiv And High-Risk Obstetrics Clinics, Matthew Kronman

Yale Medicine Thesis Digital Library

We investigated patterns of efavirenz use among physicians caring for HIV-positive women in the primary HIV and high-risk obstetrics clinics (HROC) of an academic teaching hospital. Efavirenz, a non-nucleoside reverse transcriptase inhibitor approved for HIV treatment, is a potential teratogen. The FDA recommends that women prescribed efavirenz use two forms of birth control and avoid becoming pregnant. We conducted a retrospective analysis of medical records of reproductive-age HIV-positive women seen between September 1998 and December 2002, recording information documented at initial prescription of efavirenz, pregnancies occurring on efavirenz, other antiretroviral medications taken during pregnancy, and fetal malformations noted at birth. …


Expression Of The Extracellular Nucleotide Diphosphohydrolase, Ntpdase2, Is Down-Regulated In Primary Cholangiopathies, Joahd Toure Jul 2003

Expression Of The Extracellular Nucleotide Diphosphohydrolase, Ntpdase2, Is Down-Regulated In Primary Cholangiopathies, Joahd Toure

Yale Medicine Thesis Digital Library

Portal fibroblasts are newly discovered liver cells that may be of particular importance in biliary fibrosis. Recent data indicate that portal fibroblasts express NTPDase2, an ecto-nucleoside triphosphate diphosphohydrolase. Portal fibroblasts exist within the peri-portal regions of rat livers and express NTPDase2 adjacent to the basolateral side of intrahepatic bile ducts. Because extracellular nucleotides regulate secretion via activation of P2Y purinergic receptors, extracellular nucleotide hydrolysis via NTPDase2 makes NTPDase2 a potential regulator of bile ductular secretion. We propose that NTPDase2 expression may be altered in biliary fibrosis, especially in conditions in which bile duct epithelia are the target of disease. To …


Missing Aggregate Dynamics: On The Slow Convergence Of Lumpy Adjustment Models, Ricardo J. Caballero, Eduardo Engel Jul 2003

Missing Aggregate Dynamics: On The Slow Convergence Of Lumpy Adjustment Models, Ricardo J. Caballero, Eduardo Engel

Cowles Foundation Discussion Papers

The dynamic response of aggregate variables to shocks is one of the central concerns of applied macroeconomics. The main measurement procedure for these dynamics consists of estimating an ARMA or VAR (VARs, for short). In non- or semi-structural approaches, the characterization of dynamics stops there. In other, more structural approaches, researcher try to uncover underlying adjustment cost parameters from the estimated VARs. Yet, in others, such as in RBC models, these estimates are used as the benchmark over which the success of the calibration exercise, and the need for further theorizing, is assessed. The main point of this paper is …


Uniqueness Of Equilibrium In The Multi-Country Ricardo Model, Herbert E. Scarf, Charles A. Wilson Jul 2003

Uniqueness Of Equilibrium In The Multi-Country Ricardo Model, Herbert E. Scarf, Charles A. Wilson

Cowles Foundation Discussion Papers

We present two arguments, one based on index theory, demonstrating that the multi-country Ricardo model has a unique competitive equilibrium if the aggregate demand functions exhibit gross substitutability. The result is somewhat surprising because the assumption of gross substitutability is sufficient for uniqueness in a model of exchange but not, in general, when production is included in the model.


The Ideal Inflation Indexed Bond And Irving Fisher's Impatience Theory Of Interest In An Overlapping Generations World, John Geanakoplos Jul 2003

The Ideal Inflation Indexed Bond And Irving Fisher's Impatience Theory Of Interest In An Overlapping Generations World, John Geanakoplos

Cowles Foundation Discussion Papers

Irving Fisher long advocated inflation indexed bonds. I prove in the context of a multicommodity CAPM world that the best welfare improving bond pays the minimum money needed to achieve the same utility, and not the minimum needed to buy an ideal commodity bundle. Irving Fisher also developed and advocated the impatience theory of interest. But in OLG economies, the rate of interest is determined by population growth, not impatience. I reconcile this contradiction by proving that in stationary OLG economies with land, the interest rate at the unique steady state does depend on impatience. Indeed, the proposition that greater …


The Performance Of Indian Banks During Financial Liberalization, Petya Koeva Jul 2003

The Performance Of Indian Banks During Financial Liberalization, Petya Koeva

Documents

https://www.imf.org/external/pubs/ft/wp/2003/wp03150.pdf


Institutions And The Urban Environment In Developing Countries: Challenges, Trends, And Transitions, Carlos A. Linares Jul 2003

Institutions And The Urban Environment In Developing Countries: Challenges, Trends, And Transitions, Carlos A. Linares

Yale School of the Environment Publications Series

The paper discusses challenges, trends, and transitions in the urban environment field and offers an approach to meeting Millennium Development Goal (MDG) targets in water supply and sanitation in urban areas. It updates the author’s 1994 publication Urban Environmental Challenges: New Directions for Technical Assistance to Cities inDeveloping Countries, published by the World Resources Institute. This paper begins by describing governance, decentralization, and privatization trends and drawing lessons from international development experiences in cities in developing countries. It argues that pervasive governance problems have led to environmental service deficits, particularly amongst the poor, who, at the same time, have demonstrated …


About The Public Fund System For Financial Institutions July 28, 2003 Financial System Council Financial Subcommittee Second Subcommittee Public, Government Of Japan: Financial Function Enhancement Examination Committee Jul 2003

About The Public Fund System For Financial Institutions July 28, 2003 Financial System Council Financial Subcommittee Second Subcommittee Public, Government Of Japan: Financial Function Enhancement Examination Committee

Documents

No abstract provided.


Argentina: 2002 Article Iv Consultation-Staff Report, International Monetary Fund (Imf) Jul 2003

Argentina: 2002 Article Iv Consultation-Staff Report, International Monetary Fund (Imf)

Documents

No abstract provided.


Implementation Completion Report On A Loan In The Amount Of Us$75 Million To Jamaica For A Second Bank Restructuring & Debt Management Program Adjustment Loan, World Bank/World Bank Group Jun 2003

Implementation Completion Report On A Loan In The Amount Of Us$75 Million To Jamaica For A Second Bank Restructuring & Debt Management Program Adjustment Loan, World Bank/World Bank Group

Documents

Second World Bank loan evaluation and last detailed update on FINSAC debt recovery progress


Functions And Responsibilities In Monetary And Financial Affairs, Antony Leung Jun 2003

Functions And Responsibilities In Monetary And Financial Affairs, Antony Leung

Documents

No abstract provided.